Intellia Therapeutics (NASDAQ:NTLA) Price Target Lowered to $12.00 at The Goldman Sachs Group

Intellia Therapeutics (NASDAQ:NTLA) had its price objective reduced by The Goldman Sachs Group from $19.00 to $12.00 in a research note published on Tuesday,Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the stock.

A number of other equities analysts have also recently issued reports on the stock. Royal Bank of Canada reiterated an “outperform” rating and set a $54.00 price objective on shares of Intellia Therapeutics in a research report on Thursday, September 19th. Oppenheimer dropped their price target on Intellia Therapeutics from $60.00 to $40.00 and set an “outperform” rating for the company in a research note on Monday. Robert W. Baird cut their price objective on Intellia Therapeutics from $24.00 to $18.00 and set a “neutral” rating on the stock in a report on Friday, October 25th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $90.00 target price on shares of Intellia Therapeutics in a report on Tuesday, November 19th. Finally, Chardan Capital boosted their price target on Intellia Therapeutics from $88.00 to $91.00 and gave the stock a “buy” rating in a report on Monday, November 18th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Intellia Therapeutics has a consensus rating of “Moderate Buy” and an average target price of $51.06.

Intellia Therapeutics Stock Performance

Shares of NTLA stock opened at $9.73 on Tuesday. Intellia Therapeutics has a fifty-two week low of $9.59 and a fifty-two week high of $34.87. The stock’s fifty day moving average price is $13.56 and its two-hundred day moving average price is $18.75. The company has a market cap of $990.99 million, a PE ratio of -1.79 and a beta of 1.83.

Intellia Therapeutics (NASDAQ:NTLA) last released its earnings results on Thursday, November 7th. The company reported ($1.34) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($1.38) EPS. On average, equities analysts predict that Intellia Therapeutics will post -5.12 EPS for the current fiscal year.

Insider Activity at Intellia Therapeutics

In other Intellia Therapeutics news, CEO John M. Leonard sold 26,807 shares of the business’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $12.18, for a total value of $326,509.26. Following the transaction, the chief executive officer now directly owns 941,115 shares of the company’s stock, valued at approximately $11,462,780.70. The trade was a 2.77 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold a total of 28,735 shares of company stock worth $349,909 in the last 90 days. Corporate insiders own 3.20% of the company’s stock.

Institutional Trading of Intellia Therapeutics

Hedge funds have recently modified their holdings of the stock. State Street Corp grew its holdings 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 purchasing an additional 780,754 shares during the period. ARK Investment Management LLC boosted its position in shares of Intellia Therapeutics by 5.7% during the 3rd 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. Two Sigma Advisers LP grew its stake in shares of Intellia Therapeutics by 33.5% in the 3rd quarter. Two Sigma Advisers LP now owns 1,027,617 shares of the company’s stock valued at $21,118,000 after buying an additional 257,700 shares during the period. Sphera Funds Management LTD. increased its position in Intellia Therapeutics by 108.8% in the 3rd quarter. Sphera Funds Management LTD. now owns 291,080 shares of the company’s stock valued at $5,982,000 after buying an additional 151,661 shares in the last quarter. Finally, Patient Square Capital LP acquired a new position in Intellia Therapeutics during the 3rd quarter worth approximately $2,642,000. Institutional investors 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.