The Goldman Sachs Group Reiterates Sell Rating for Intellia Therapeutics (NASDAQ:NTLA)

Intellia Therapeutics (NASDAQ:NTLA)‘s stock had its “sell” rating reiterated by equities research analysts at The Goldman Sachs Group in a note issued to investors on Friday, Marketbeat Ratings reports. They presently have a $9.00 price target on the stock. The Goldman Sachs Group’s price objective points to a potential downside of 10.80% from the company’s previous close.

A number of other analysts also recently issued reports on the company. Wedbush reaffirmed a “neutral” rating and issued a $10.00 target price (down from $14.00) on shares of Intellia Therapeutics in a research note on Friday, January 10th. William Blair reaffirmed a “neutral” rating and issued a $14.00 target price on shares of Intellia Therapeutics in a research note on Monday, November 18th. Morgan Stanley downgraded Intellia Therapeutics from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $56.00 to $11.00 in a research note on Monday, January 27th. Wells Fargo & Company cut their target price on Intellia Therapeutics from $70.00 to $60.00 and set an “overweight” rating for the company in a research note on Friday, January 10th. Finally, StockNews.com raised Intellia Therapeutics to a “sell” rating in a research note on Friday, November 8th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $42.12.

Intellia Therapeutics Stock Performance

NASDAQ NTLA opened at $10.09 on Friday. Intellia Therapeutics has a one year low of $8.96 and a one year high of $34.87. The company has a market cap of $1.03 billion, a P/E ratio of -1.85 and a beta of 1.80. The business has a fifty day moving average price of $10.85 and a 200 day moving average price of $15.64.

Insider Activity at Intellia Therapeutics

In related news, CEO John M. Leonard sold 26,807 shares of the firm’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $12.18, for a total transaction of $326,509.26. Following the completion of the transaction, the chief executive officer now directly owns 941,115 shares in the company, valued at $11,462,780.70. This trade represents a 2.77 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders sold 29,000 shares of company stock worth $352,551 in the last three months. 3.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Intellia Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of NTLA. GF Fund Management CO. LTD. purchased a new position in Intellia Therapeutics during the 4th quarter valued at about $25,000. Sterling Capital Management LLC boosted its holdings in Intellia Therapeutics by 866.2% during the 4th quarter. Sterling Capital Management LLC now owns 3,198 shares of the company’s stock valued at $37,000 after acquiring an additional 2,867 shares during the period. Whipplewood Advisors LLC purchased a new position in Intellia Therapeutics during the 4th quarter valued at about $40,000. Resona Asset Management Co. Ltd. purchased a new position in Intellia Therapeutics during the 4th quarter valued at about $43,000. Finally, Jones Financial Companies Lllp boosted its stake in shares of Intellia Therapeutics by 140.9% in the 4th quarter. Jones Financial Companies Lllp now owns 3,898 shares of the company’s stock valued at $45,000 after buying an additional 2,280 shares during the period. 88.77% of the stock is currently owned by hedge funds and other institutional investors.

About Intellia Therapeutics

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.