Intellia Therapeutics (NASDAQ:NTLA) Price Target Cut to $68.00 by Analysts at Chardan Capital

Intellia Therapeutics (NASDAQ:NTLA) had its target price reduced by Chardan Capital from $91.00 to $68.00 in a report issued on Friday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other equities research analysts have also recently weighed in on NTLA. Canaccord Genuity Group reissued a “buy” rating and issued a $90.00 price target on shares of Intellia Therapeutics in a research report on Tuesday, November 19th. Wells Fargo & Company lowered their target price on shares of Intellia Therapeutics from $70.00 to $60.00 and set an “overweight” rating on the stock in a research report on Friday, January 10th. Oppenheimer lowered their price target on shares of Intellia Therapeutics from $60.00 to $40.00 and set an “outperform” rating on the stock in a research report on Monday, January 13th. William Blair reissued a “neutral” rating and set a $14.00 price objective on shares of Intellia Therapeutics in a research note on Monday, November 18th. Finally, Barclays reduced their price objective on shares of Intellia Therapeutics from $76.00 to $55.00 and set an “overweight” rating on the stock in a research note on Friday, November 8th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $42.12.

Intellia Therapeutics Stock Performance

Intellia Therapeutics stock opened at $10.09 on Friday. The firm has a 50 day moving average price of $10.90 and a 200 day moving average price of $15.72. The company has a market capitalization of $1.03 billion, a PE ratio of -1.85 and a beta of 1.80. Intellia Therapeutics has a fifty-two week low of $8.96 and a fifty-two week high of $34.87.

Insider Activity

In other Intellia Therapeutics news, CEO John M. Leonard sold 26,807 shares of the stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $12.18, for a total value 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 approximately $11,462,780.70. This trade represents a 2.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last three months, insiders sold 29,000 shares of company stock worth $352,551. 3.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Intellia Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in the stock. ARK Investment Management LLC grew its stake in Intellia Therapeutics by 2.3% in the fourth quarter. ARK Investment Management LLC now owns 12,536,386 shares of the company’s stock valued at $146,174,000 after acquiring an additional 280,946 shares during the period. Vanguard Group Inc. increased its position in Intellia Therapeutics by 5.8% in the fourth quarter. Vanguard Group Inc. now owns 10,190,053 shares of the company’s stock worth $118,816,000 after buying an additional 562,249 shares during the last quarter. State Street Corp increased its position in Intellia Therapeutics by 17.9% in the third quarter. State Street Corp now owns 5,143,534 shares of the company’s stock worth $105,700,000 after buying an additional 780,754 shares during the last quarter. Regeneron Pharmaceuticals Inc. purchased a new position in shares of Intellia Therapeutics in the fourth quarter valued at $43,177,000. Finally, Geode Capital Management LLC grew its position in Intellia Therapeutics by 2.0% during the fourth quarter. Geode Capital Management LLC now owns 2,389,240 shares of the company’s stock worth $27,865,000 after buying an additional 45,930 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.