Intellia Therapeutics (NASDAQ:NTLA) Price Target Cut to $26.00 by Analysts at Barclays

Intellia Therapeutics (NASDAQ:NTLA) had its price target reduced by Barclays from $55.00 to $26.00 in a report published on Friday morning,Benzinga reports. They currently have an overweight rating on the stock.

Several other brokerages also recently commented on NTLA. Morgan Stanley downgraded Intellia Therapeutics from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $56.00 to $11.00 in a research report on Monday, January 27th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $90.00 price target on shares of Intellia Therapeutics in a research report on Tuesday, November 19th. Citigroup lifted their price target on Intellia Therapeutics from $12.00 to $14.00 and gave the stock a “neutral” rating in a research report on Friday. JPMorgan Chase & Co. restated a “neutral” rating and set a $13.00 price objective (down from $45.00) on shares of Intellia Therapeutics in a research report on Friday. Finally, The Goldman Sachs Group restated a “sell” rating and set a $9.00 price objective on shares of Intellia Therapeutics in a research report on Friday. Two research analysts have rated the stock with a sell rating, six have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $42.12.

Intellia Therapeutics Stock Down 7.1 %

Shares of NASDAQ NTLA opened at $10.09 on Friday. The business’s 50 day moving average is $10.90 and its two-hundred day moving average is $15.72. The company has a market cap of $1.03 billion, a P/E ratio of -1.85 and a beta of 1.80. Intellia Therapeutics has a 12 month low of $8.96 and a 12 month high of $34.87.

Insider Buying and Selling at Intellia Therapeutics

In other Intellia Therapeutics news, CEO John M. Leonard sold 26,807 shares of the company’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $12.18, for a total value of $326,509.26. Following the sale, the chief executive officer now directly owns 941,115 shares in the company, valued at $11,462,780.70. This represents a 2.77 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders have sold 29,000 shares of company stock worth $352,551 over the last three months. Company insiders own 3.20% of the company’s stock.

Hedge Funds Weigh In On Intellia Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of NTLA. Mirae Asset Global Investments Co. Ltd. boosted its stake in Intellia Therapeutics by 27.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,674 shares of the company’s stock worth $77,000 after purchasing an additional 794 shares in the last quarter. SteelPeak Wealth LLC acquired a new position in Intellia Therapeutics in the third quarter worth $393,000. Harbor Capital Advisors Inc. boosted its stake in Intellia Therapeutics by 71.0% in the third quarter. Harbor Capital Advisors Inc. now owns 79,205 shares of the company’s stock worth $1,628,000 after purchasing an additional 32,893 shares in the last quarter. ARK Investment Management LLC boosted its stake in Intellia Therapeutics by 5.7% in the third quarter. ARK Investment Management LLC now owns 12,255,440 shares of the company’s stock worth $251,849,000 after purchasing an additional 659,651 shares in the last quarter. Finally, Lewis Asset Management LLC boosted its stake in Intellia Therapeutics by 42.5% in the third quarter. Lewis Asset Management LLC now owns 66,308 shares of the company’s stock worth $1,363,000 after purchasing an additional 19,775 shares in the last quarter. Institutional investors and hedge funds own 88.77% of the company’s stock.

Intellia Therapeutics Company Profile

Intellia Therapeutics, Inc, a genome editing company, focuses on the development of curative therapeutics. The company's in vivo programs include NTLA-2001, which is in Phase 1 clinical trial for the treatment of transthyretin amyloidosis; NTLA-2002 for the treatment of hereditary angioedema; and NTLA-3001 for alpha-1 antitrypsin deficiency associated lung disease.