Truist Financial Cuts Intellia Therapeutics (NASDAQ:NTLA) Price Target to $50.00

Intellia Therapeutics (NASDAQ:NTLA) had its price target cut by Truist Financial from $90.00 to $50.00 in a research report released on Tuesday,Benzinga reports. They currently have a buy rating on the stock.

Other analysts have also issued research reports about the company. Wells Fargo & Company lowered their price target on Intellia Therapeutics from $60.00 to $50.00 and set an “overweight” rating for the company in a report on Friday, February 28th. BMO Capital Markets cut their price target on Intellia Therapeutics from $70.00 to $50.00 and set an “outperform” rating on the stock in a research note on Friday, January 10th. The Goldman Sachs Group reaffirmed a “sell” rating and issued a $9.00 price objective on shares of Intellia Therapeutics in a research note on Friday, February 28th. Canaccord Genuity Group reissued a “buy” rating and set a $90.00 target price on shares of Intellia Therapeutics in a research report on Tuesday, November 19th. Finally, Oppenheimer cut their price target on Intellia Therapeutics from $60.00 to $40.00 and set an “outperform” rating on the stock in a report on Monday, January 13th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $37.56.

Intellia Therapeutics Price Performance

Shares of NTLA opened at $9.90 on Tuesday. The stock has a market capitalization of $1.02 billion, a price-to-earnings ratio of -1.82 and a beta of 1.97. The business’s 50 day simple moving average is $10.64 and its 200-day simple moving average is $15.28. Intellia Therapeutics has a 1 year low of $8.30 and a 1 year high of $32.00.

Insider Buying and Selling at Intellia Therapeutics

In other news, CEO John M. Leonard sold 26,807 shares of Intellia Therapeutics stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $12.18, for a total value of $326,509.26. Following the sale, the chief executive officer now owns 941,115 shares in the company, valued at $11,462,780.70. This trade represents a 2.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last ninety days, insiders sold 29,000 shares of company stock valued at $352,551. 3.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NTLA. GF Fund Management CO. LTD. acquired a new position in Intellia Therapeutics during the fourth quarter worth $25,000. Sterling Capital Management LLC lifted its position in shares of Intellia Therapeutics by 866.2% during the 4th quarter. Sterling Capital Management LLC now owns 3,198 shares of the company’s stock worth $37,000 after purchasing an additional 2,867 shares during the last quarter. Whipplewood Advisors LLC acquired a new position in shares of Intellia Therapeutics during the fourth quarter worth $40,000. Resona Asset Management Co. Ltd. acquired a new position in shares of Intellia Therapeutics during the 4th quarter worth about $43,000. Finally, Jones Financial Companies Lllp boosted its holdings 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 in the last quarter. Hedge funds and other institutional investors 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.