Intellia Therapeutics (NASDAQ:NTLA) Given New $50.00 Price Target at BMO Capital Markets

Intellia Therapeutics (NASDAQ:NTLA) had its target price cut by stock analysts at BMO Capital Markets from $70.00 to $50.00 in a report released on Friday,Benzinga reports. The firm currently has an “outperform” rating on the stock. BMO Capital Markets’ price target would indicate a potential upside of 329.18% from the stock’s current price.

A number of other research analysts have also recently weighed in on NTLA. Wells Fargo & Company dropped their price objective on shares of Intellia Therapeutics from $70.00 to $60.00 and set an “overweight” rating for the company in a report on Friday. William Blair reaffirmed a “neutral” rating and set a $14.00 price objective on shares of Intellia Therapeutics in a research report on Monday, November 18th. Citigroup lowered their target price on Intellia Therapeutics from $25.00 to $19.00 and set a “neutral” rating for the company in a research note on Friday, October 25th. Oppenheimer cut their price objective on shares of Intellia Therapeutics from $70.00 to $60.00 and set an “outperform” rating on the stock in a report on Monday, November 11th. Finally, Canaccord Genuity Group reissued a “buy” rating and issued a $90.00 target price on shares of Intellia Therapeutics in a report on Tuesday, November 19th. 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 assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $53.06.

Intellia Therapeutics Price Performance

Intellia Therapeutics stock opened at $11.65 on Friday. The stock has a market capitalization of $1.19 billion, a PE ratio of -2.14 and a beta of 1.83. The business has a 50 day simple moving average of $13.87 and a 200-day simple moving average of $19.10. Intellia Therapeutics has a 12 month low of $11.34 and a 12 month high of $34.87.

Intellia Therapeutics (NASDAQ:NTLA) last announced its earnings results on Thursday, November 7th. The company reported ($1.34) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.37) by $0.03. The company had revenue of $9.10 million during the quarter, compared to analyst estimates of $8.28 million. During the same quarter last year, the business earned ($1.38) EPS. The firm’s revenue for the quarter was down 24.1% compared to the same quarter last year. On average, equities research analysts anticipate 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 company’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 completion of the sale, the chief executive officer now directly owns 941,115 shares in the company, valued at $11,462,780.70. This represents a 2.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold a total of 28,735 shares of company stock worth $349,909 over the last ninety days. 3.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Intellia Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in NTLA. ARK Investment Management LLC grew its stake in Intellia Therapeutics by 5.7% in the third quarter. ARK Investment Management LLC now owns 12,255,440 shares of the company’s stock valued at $251,849,000 after purchasing an additional 659,651 shares in the last quarter. State Street Corp increased 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 buying an additional 780,754 shares during the last quarter. Geode Capital Management LLC raised its position in Intellia Therapeutics by 2.2% during the third quarter. Geode Capital Management LLC now owns 2,343,310 shares of the company’s stock valued at $48,164,000 after acquiring an additional 49,367 shares in the last quarter. FMR LLC lifted its stake in Intellia Therapeutics by 5.0% in the third quarter. FMR LLC now owns 2,339,522 shares of the company’s stock valued at $48,077,000 after acquiring an additional 111,104 shares during the last quarter. Finally, Federated Hermes Inc. grew its position in Intellia Therapeutics by 19.2% in the second quarter. Federated Hermes Inc. now owns 2,300,889 shares of the company’s stock worth $51,494,000 after acquiring an additional 371,189 shares in 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.