Brokerages Set Intellia Therapeutics, Inc. (NASDAQ:NTLA) Target Price at $55.36

Shares of Intellia Therapeutics, Inc. (NASDAQ:NTLA) have earned an average rating of “Moderate Buy” from the eighteen research firms that are currently covering the firm, Marketbeat.com reports. Six analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $54.94.

NTLA has been the topic of a number of analyst reports. JPMorgan Chase & Co. lowered their price objective on Intellia Therapeutics from $61.00 to $55.00 and set an “overweight” rating on the stock in a research report on Monday, August 12th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $90.00 price objective on shares of Intellia Therapeutics in a research note on Tuesday. Robert W. Baird decreased their target price on shares of Intellia Therapeutics from $24.00 to $18.00 and set a “neutral” rating on the stock in a research report on Friday, October 25th. William Blair restated a “neutral” rating and set a $14.00 price target on shares of Intellia Therapeutics in a report on Monday, November 18th. Finally, Stifel Nicolaus decreased their price objective on shares of Intellia Therapeutics from $80.00 to $64.00 and set a “buy” rating for the company in a research note on Wednesday, September 11th.

Intellia Therapeutics Price Performance

NASDAQ:NTLA opened at $14.30 on Friday. The company has a market capitalization of $1.46 billion, a PE ratio of -2.63 and a beta of 1.81. Intellia Therapeutics has a 1-year low of $12.82 and a 1-year high of $34.87. The firm’s 50-day moving average price is $18.12 and its 200-day moving average price is $21.79.

Intellia Therapeutics (NASDAQ:NTLA) last released its quarterly earnings data on Thursday, November 7th. The company reported ($1.34) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.37) by $0.03. The business had revenue of $9.10 million during the quarter, compared to the consensus estimate of $8.28 million. The business’s revenue was down 24.1% compared to the same quarter last year. During the same period last year, the company posted ($1.38) earnings per share. Equities analysts anticipate that Intellia Therapeutics will post -5.13 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CAO Michael P. Dube sold 2,012 shares of Intellia Therapeutics stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $19.01, for a total value of $38,248.12. Following the completion of the transaction, the chief accounting officer now owns 47,012 shares in the company, valued at $893,698.12. The trade was a 4.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 3.20% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of NTLA. State Street Corp increased its holdings in shares of Intellia Therapeutics by 17.9% in the third quarter. State Street Corp now owns 5,143,534 shares of the company’s stock valued at $105,700,000 after purchasing an additional 780,754 shares during the period. Vanguard Group Inc. lifted its stake in shares of Intellia Therapeutics by 8.9% in the first quarter. Vanguard Group Inc. now owns 9,093,712 shares of the company’s stock valued at $250,168,000 after purchasing an additional 746,263 shares during the period. ARK Investment Management LLC boosted its position in Intellia Therapeutics by 5.7% during 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. Federated Hermes Inc. grew its stake in Intellia Therapeutics by 19.2% in the 2nd quarter. Federated Hermes Inc. now owns 2,300,889 shares of the company’s stock valued at $51,494,000 after acquiring an additional 371,189 shares during the last quarter. Finally, Two Sigma Advisers LP increased its stake in shares of Intellia Therapeutics by 33.5% during the 3rd quarter. Two Sigma Advisers LP now owns 1,027,617 shares of the company’s stock worth $21,118,000 after purchasing an additional 257,700 shares in the last quarter. Institutional investors and hedge funds own 88.77% of the company’s stock.

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.