Intellia Therapeutics (NASDAQ:NTLA) Given New $70.00 Price Target at Wells Fargo & Company

Intellia Therapeutics (NASDAQ:NTLA) had its price objective lowered by Wells Fargo & Company from $80.00 to $70.00 in a report released on Monday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

A number of other equities research analysts have also issued reports on the stock. Robert W. Baird cut their price target on shares of Intellia Therapeutics from $24.00 to $18.00 and set a “neutral” rating on the stock in a report on Friday, October 25th. Barclays reduced their target price on Intellia Therapeutics from $76.00 to $55.00 and set an “overweight” rating for the company in a report on Friday, November 8th. Chardan Capital upped their price target on Intellia Therapeutics from $88.00 to $91.00 and gave the company a “buy” rating in a research report on Monday. Wedbush reissued a “neutral” rating and issued a $14.00 price objective on shares of Intellia Therapeutics in a research note on Monday. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Intellia Therapeutics from $61.00 to $55.00 and set an “overweight” rating on the stock in a research report on Monday, August 12th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $53.88.

Intellia Therapeutics Trading Up 1.4 %

Shares of Intellia Therapeutics stock opened at $14.17 on Monday. Intellia Therapeutics has a 52 week low of $13.54 and a 52 week high of $34.87. The company’s 50-day moving average price is $18.64 and its two-hundred day moving average price is $22.04.

Intellia Therapeutics (NASDAQ:NTLA) last released its earnings results on Thursday, November 7th. The company reported ($1.34) EPS for the quarter, beating the consensus estimate of ($1.37) by $0.03. The business had revenue of $9.10 million for the quarter, compared to analyst estimates of $8.28 million. The firm’s revenue for the quarter was down 24.1% on a year-over-year basis. During the same period in the prior year, the company earned ($1.38) earnings per share. As a group, analysts expect that Intellia Therapeutics will post -5.13 earnings per share for the current fiscal year.

Insider Activity at Intellia Therapeutics

In other Intellia Therapeutics news, CAO Michael P. Dube sold 2,012 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $19.01, for a total transaction of $38,248.12. Following the completion of the sale, the chief accounting officer now directly owns 47,012 shares in the company, valued at $893,698.12. This represents a 4.10 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 3.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Intellia Therapeutics

A number of institutional investors have recently made changes to their positions in NTLA. Blue Trust Inc. grew its holdings in Intellia Therapeutics by 1,664.3% in the 2nd quarter. Blue Trust Inc. now owns 1,482 shares of the company’s stock valued at $33,000 after buying an additional 1,398 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in Intellia Therapeutics by 763.5% during the second quarter. EverSource Wealth Advisors LLC now owns 1,753 shares of the company’s stock worth $39,000 after acquiring an additional 1,550 shares during the period. Eastern Bank acquired a new position in Intellia Therapeutics during the 3rd quarter valued at $41,000. Values First Advisors Inc. acquired a new stake in Intellia Therapeutics in the 3rd quarter worth $54,000. Finally, First Horizon Advisors Inc. raised its position in shares of Intellia Therapeutics by 22.1% during the second quarter. First Horizon Advisors Inc. now owns 2,604 shares of the company’s stock valued at $58,000 after buying an additional 472 shares during the last quarter. 88.77% of the stock is currently owned by institutional investors.

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.