Wells Fargo & Company Lowers Intellia Therapeutics (NASDAQ:NTLA) Price Target to $50.00

Intellia Therapeutics (NASDAQ:NTLA) had its price objective dropped by analysts at Wells Fargo & Company from $60.00 to $50.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective indicates a potential upside of 401.81% from the company’s previous close.

Several other equities research analysts also recently issued reports on NTLA. Barclays cut their price objective on shares of Intellia Therapeutics from $76.00 to $55.00 and set an “overweight” rating for the company in a research report on Friday, November 8th. Morgan Stanley downgraded Intellia Therapeutics from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $56.00 to $11.00 in a research note on Monday, January 27th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $13.00 price objective (down previously from $45.00) on shares of Intellia Therapeutics in a research report on Friday. Oppenheimer dropped their price objective on Intellia Therapeutics from $60.00 to $40.00 and set an “outperform” rating for the company in a report on Monday, January 13th. Finally, The Goldman Sachs Group reaffirmed a “sell” rating and set a $9.00 price target on shares of Intellia Therapeutics in a report on Friday. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $44.12.

Intellia Therapeutics Stock Down 8.3 %

Shares of NASDAQ NTLA traded down $0.90 during mid-day trading on Friday, reaching $9.96. 2,086,680 shares of the company were exchanged, compared to its average volume of 3,230,662. The stock has a market capitalization of $1.01 billion, a P/E ratio of -1.83 and a beta of 1.80. The company’s 50-day simple moving average is $10.90 and its 200-day simple moving average is $15.72. Intellia Therapeutics has a twelve month low of $8.96 and a twelve month high of $34.87.

Insider Transactions at Intellia Therapeutics

In other 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 transaction of $326,509.26. Following the transaction, the chief executive officer now directly owns 941,115 shares of the company’s stock, valued at $11,462,780.70. This represents a 2.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders have sold a total of 29,000 shares of company stock valued at $352,551 in the last ninety days. 3.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Regeneron Pharmaceuticals Inc. purchased a new stake in Intellia Therapeutics in the fourth quarter worth about $43,177,000. Voloridge Investment Management LLC lifted its stake in Intellia Therapeutics by 226.8% in the 4th quarter. Voloridge Investment Management LLC now owns 1,526,994 shares of the company’s stock worth $17,805,000 after purchasing an additional 1,059,751 shares in the last quarter. Contrarius Group Holdings Ltd purchased a new position in Intellia Therapeutics during the 4th quarter valued at approximately $11,798,000. Two Sigma Advisers LP grew its stake in shares of Intellia Therapeutics by 94.5% in the 4th quarter. Two Sigma Advisers LP now owns 1,998,317 shares of the company’s stock worth $23,300,000 after buying an additional 970,700 shares in the last quarter. Finally, Two Sigma Investments LP grew its position in Intellia Therapeutics by 88.1% in the fourth quarter. Two Sigma Investments LP now owns 1,843,743 shares of the company’s stock worth $21,498,000 after acquiring an additional 863,363 shares in the last quarter. 88.77% of the stock is 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.