Intellia Therapeutics (NASDAQ:NTLA) Given New $30.00 Price Target at Bank of America

Intellia Therapeutics (NASDAQ:NTLA) had its price objective reduced by Bank of America from $36.00 to $30.00 in a research note released on Monday,Benzinga reports. They currently have a buy rating on the stock.

A number of other brokerages also recently weighed in on NTLA. Wells Fargo & Company reiterated an “overweight” rating and set a $45.00 price target (down previously from $50.00) on shares of Intellia Therapeutics in a report on Friday, August 8th. JMP Securities upgraded Intellia Therapeutics from a “market perform” rating to a “market outperform” rating and set a $33.00 target price on the stock in a research note on Monday, October 6th. Weiss Ratings restated a “sell (d-)” rating on shares of Intellia Therapeutics in a research note on Wednesday, October 8th. Chardan Capital lowered their target price on Intellia Therapeutics from $60.00 to $48.00 and set a “buy” rating on the stock in a research note on Monday. Finally, HC Wainwright lowered their target price on Intellia Therapeutics from $30.00 to $25.00 and set a “buy” rating on the stock in a research note on Monday. Thirteen research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $28.05.

Intellia Therapeutics Trading Down 42.2%

Shares of NTLA stock opened at $14.79 on Monday. Intellia Therapeutics has a 1-year low of $5.90 and a 1-year high of $28.25. The company has a market capitalization of $1.59 billion, a price-to-earnings ratio of -3.15 and a beta of 2.37. The stock’s fifty day simple moving average is $16.90 and its 200-day simple moving average is $12.18.

Intellia Therapeutics (NASDAQ:NTLA) last issued its quarterly earnings results on Thursday, August 7th. The company reported ($0.99) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.03) by $0.04. Intellia Therapeutics had a negative return on equity of 57.48% and a negative net margin of 908.48%.The business had revenue of $14.25 million for the quarter, compared to the consensus estimate of $12.26 million. During the same quarter in the previous year, the company posted ($1.52) earnings per share. Intellia Therapeutics’s revenue for the quarter was up 104.3% compared to the same quarter last year. On average, sell-side analysts predict that Intellia Therapeutics will post -5.07 EPS for the current year.

Insider Activity

In other news, CAO Michael P. Dube sold 1,871 shares of the company’s stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $17.38, for a total transaction of $32,517.98. Following the completion of the sale, the chief accounting officer owned 55,266 shares in the company, valued at approximately $960,523.08. This represents a 3.27% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director William J. Chase purchased 100,000 shares of the firm’s stock in a transaction dated Wednesday, August 20th. The shares were bought at an average price of $10.03 per share, with a total value of $1,003,000.00. Following the purchase, the director owned 134,693 shares in the company, valued at $1,350,970.79. This represents a 288.24% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 3.10% of the company’s stock.

Hedge Funds Weigh In On Intellia Therapeutics

Several large investors have recently made changes to their positions in the business. CWM LLC lifted its position in shares of Intellia Therapeutics by 4.7% during the 3rd quarter. CWM LLC now owns 19,187 shares of the company’s stock worth $331,000 after purchasing an additional 856 shares during the last quarter. Cyndeo Wealth Partners LLC lifted its position in shares of Intellia Therapeutics by 9.3% during the 3rd quarter. Cyndeo Wealth Partners LLC now owns 11,710 shares of the company’s stock worth $202,000 after purchasing an additional 995 shares during the last quarter. Benjamin Edwards Inc. lifted its position in shares of Intellia Therapeutics by 1.8% during the 2nd quarter. Benjamin Edwards Inc. now owns 63,034 shares of the company’s stock worth $591,000 after purchasing an additional 1,126 shares during the last quarter. HighTower Advisors LLC lifted its position in shares of Intellia Therapeutics by 8.2% during the 1st quarter. HighTower Advisors LLC now owns 16,921 shares of the company’s stock worth $120,000 after purchasing an additional 1,282 shares during the last quarter. Finally, Johnson Financial Group Inc. lifted its position in shares of Intellia Therapeutics by 24.8% during the 2nd quarter. Johnson Financial Group Inc. now owns 6,988 shares of the company’s stock worth $66,000 after purchasing an additional 1,388 shares during the last quarter. Institutional investors and hedge funds 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.