Intellia Therapeutics (NASDAQ:NTLA) Given New $54.00 Price Target at Canaccord Genuity Group

Intellia Therapeutics (NASDAQ:NTLA) had its price target lowered by Canaccord Genuity Group from $74.00 to $54.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other research firms have also issued reports on NTLA. Wolfe Research raised Intellia Therapeutics from a “peer perform” rating to an “outperform” rating and set a $21.00 price objective for the company in a research note on Monday, April 21st. 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. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $13.00 price objective (down from $45.00) on shares of Intellia Therapeutics in a research note on Friday, February 28th. Barclays lowered their price objective on Intellia Therapeutics from $55.00 to $26.00 and set an “overweight” rating for the company in a research note on Friday, February 28th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $30.00 price objective on shares of Intellia Therapeutics in a research note on Thursday, May 29th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Intellia Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $34.95.

Intellia Therapeutics Trading Up 7.4%

Shares of Intellia Therapeutics stock opened at $7.69 on Tuesday. The stock has a 50 day moving average of $7.90 and a 200 day moving average of $10.17. Intellia Therapeutics has a 12 month low of $5.90 and a 12 month high of $28.18. The firm has a market cap of $796.55 million, a PE ratio of -1.41 and a beta of 2.33.

Intellia Therapeutics (NASDAQ:NTLA) last announced its quarterly earnings results on Thursday, May 8th. The company reported ($1.10) EPS for the quarter, beating analysts’ consensus estimates of ($1.26) by $0.16. The firm had revenue of $16.63 million for the quarter, compared to the consensus estimate of $11.39 million. During the same period in the previous year, the company posted ($1.12) earnings per share. Intellia Therapeutics’s quarterly revenue was down 42.6% on a year-over-year basis. As a group, equities research analysts forecast that Intellia Therapeutics will post -5.07 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of NTLA. GF Fund Management CO. LTD. purchased a new position in Intellia Therapeutics during the 4th quarter worth $25,000. Northwestern Mutual Wealth Management Co. increased its holdings in Intellia Therapeutics by 56.4% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 4,590 shares of the company’s stock worth $33,000 after purchasing an additional 1,655 shares during the period. Sterling Capital Management LLC increased its holdings in 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 period. Harbour Investments Inc. increased its holdings in Intellia Therapeutics by 76.7% during the 1st quarter. Harbour Investments Inc. now owns 5,214 shares of the company’s stock worth $37,000 after purchasing an additional 2,264 shares during the period. Finally, Whipplewood Advisors LLC purchased a new position in Intellia Therapeutics during the 4th quarter worth $40,000. 88.77% of the stock is currently owned by hedge funds and other 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.