Oppenheimer Issues Pessimistic Forecast for Intellia Therapeutics (NASDAQ:NTLA) Stock Price

Intellia Therapeutics (NASDAQ:NTLA) had its price objective decreased by Oppenheimer from $60.00 to $40.00 in a report published on Monday morning,Benzinga reports. Oppenheimer currently has an outperform rating on the stock.

Several other research analysts also recently weighed in on the stock. Barclays cut their target price on shares of Intellia Therapeutics from $76.00 to $55.00 and set an “overweight” rating for the company in a research note on Friday, November 8th. Royal Bank of Canada restated an “outperform” rating and set a $54.00 target price on shares of Intellia Therapeutics in a research report on Thursday, September 19th. Citigroup reduced their price target on Intellia Therapeutics from $25.00 to $19.00 and set a “neutral” rating on the stock in a research note on Friday, October 25th. Wedbush reiterated a “neutral” rating and issued a $10.00 target price (down from $14.00) on shares of Intellia Therapeutics in a research note on Friday, January 10th. Finally, BMO Capital Markets lowered their price target on Intellia Therapeutics from $70.00 to $50.00 and set an “outperform” rating for the company in a report on Friday, January 10th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $51.06.

Intellia Therapeutics Price Performance

Shares of NASDAQ NTLA opened at $9.71 on Monday. The company’s 50-day moving average price is $13.43 and its 200 day moving average price is $18.69. Intellia Therapeutics has a 52 week low of $9.59 and a 52 week high of $34.87.

Intellia Therapeutics (NASDAQ:NTLA) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($1.34) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.37) by $0.03. The company had revenue of $9.10 million for the quarter, compared to analyst estimates of $8.28 million. The company’s revenue for the quarter was down 24.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($1.38) earnings per share. Equities research analysts forecast that Intellia Therapeutics will post -5.11 earnings per share for the current fiscal year.

Insider Transactions at Intellia Therapeutics

In other news, CEO John M. Leonard sold 26,807 shares of the company’s stock in a transaction dated 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 owns 941,115 shares of the company’s stock, valued at $11,462,780.70. This represents a 2.77 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold 28,735 shares of company stock valued at $349,909 over the last 90 days. Corporate insiders own 3.20% of the company’s stock.

Hedge Funds Weigh In On Intellia Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC grew its position in Intellia Therapeutics by 763.5% in the second quarter. EverSource Wealth Advisors LLC now owns 1,753 shares of the company’s stock valued at $39,000 after acquiring an additional 1,550 shares in the last quarter. Eastern Bank acquired a new position in shares of Intellia Therapeutics during the third quarter worth $41,000. Values First Advisors Inc. purchased a new position in shares of Intellia Therapeutics in the third quarter valued at $54,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in Intellia Therapeutics by 27.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,674 shares of the company’s stock valued at $77,000 after purchasing an additional 794 shares in the last quarter. Finally, KBC Group NV increased its stake in Intellia Therapeutics by 37.3% during the 3rd quarter. KBC Group NV now owns 3,753 shares of the company’s stock worth $77,000 after buying an additional 1,020 shares during the period. 88.77% of the stock is owned by institutional investors and hedge funds.

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.