Intellia Therapeutics (NASDAQ:NTLA) Price Target Lowered to $48.00 at Chardan Capital

Intellia Therapeutics (NASDAQ:NTLA) had its target price lowered by Chardan Capital from $60.00 to $48.00 in a research report report published on Monday morning, MarketBeat Ratings reports. Chardan Capital currently has a buy rating on the stock.

A number of other brokerages have also weighed in on NTLA. Wall Street Zen upgraded shares of Intellia Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, September 6th. Royal Bank Of Canada cut their target price on shares of Intellia Therapeutics from $25.00 to $21.00 and set an “outperform” rating for the company in a research report on Friday, August 8th. Citizens Jmp raised shares of Intellia Therapeutics from a “market perform” rating to an “outperform” rating and set a $33.00 price target on the stock in a report on Monday, October 6th. Guggenheim reissued a “buy” rating and issued a $14.00 price target on shares of Intellia Therapeutics in a report on Wednesday, August 13th. Finally, JMP Securities raised shares of Intellia Therapeutics from a “market perform” rating to a “market outperform” rating and set a $33.00 price target on the stock in a report on Monday, October 6th. Thirteen analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Intellia Therapeutics presently has an average rating of “Moderate Buy” and an average price target of $28.05.

Intellia Therapeutics Stock Down 42.2%

Shares of NASDAQ:NTLA opened at $14.79 on Monday. The firm has a market capitalization of $1.59 billion, a PE ratio of -3.15 and a beta of 2.37. Intellia Therapeutics has a twelve month low of $5.90 and a twelve month high of $28.25. The company has a 50-day moving average price of $16.90 and a two-hundred day moving average price of $12.18.

Intellia Therapeutics (NASDAQ:NTLA) last issued its earnings results on Thursday, August 7th. The company reported ($0.99) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.03) by $0.04. The firm had revenue of $14.25 million during the quarter, compared to analyst estimates of $12.26 million. Intellia Therapeutics had a negative net margin of 908.48% and a negative return on equity of 57.48%. The company’s quarterly revenue was up 104.3% on a year-over-year basis. During the same quarter last year, the business earned ($1.52) earnings per share. Analysts anticipate that Intellia Therapeutics will post -5.07 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CAO Michael P. Dube sold 1,871 shares of the firm’s stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $17.38, for a total value of $32,517.98. Following the sale, the chief accounting officer directly owned 55,266 shares of the company’s stock, valued at $960,523.08. This trade represents a 3.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director William J. Chase bought 100,000 shares of the stock in a transaction that occurred on Wednesday, August 20th. The stock was bought at an average cost of $10.03 per share, for a total transaction of $1,003,000.00. Following the completion of the purchase, the director directly owned 134,693 shares of the company’s stock, valued at $1,350,970.79. This represents a 288.24% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 3.10% of the company’s stock.

Institutional Investors Weigh In On Intellia Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. GWN Securities Inc. purchased a new stake in Intellia Therapeutics in the third quarter valued at approximately $218,000. Benjamin Edwards Inc. raised its stake in Intellia Therapeutics by 2.9% in the third quarter. Benjamin Edwards Inc. now owns 64,850 shares of the company’s stock valued at $1,120,000 after purchasing an additional 1,816 shares in the last quarter. SG Americas Securities LLC raised its stake in Intellia Therapeutics by 239.7% in the third quarter. SG Americas Securities LLC now owns 131,070 shares of the company’s stock valued at $2,264,000 after purchasing an additional 92,485 shares in the last quarter. KLP Kapitalforvaltning AS grew its position in Intellia Therapeutics by 47.8% during the third quarter. KLP Kapitalforvaltning AS now owns 26,600 shares of the company’s stock valued at $459,000 after acquiring an additional 8,600 shares during the last quarter. Finally, Blue Bell Private Wealth Management LLC bought a new position in Intellia Therapeutics during the third quarter valued at approximately $30,000. 88.77% of the stock is owned by hedge funds and other institutional investors.

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.