Intellia Therapeutics (NASDAQ:NTLA) PT Lowered to $64.00

Intellia Therapeutics (NASDAQ:NTLA) had its price target reduced by Stifel Nicolaus from $80.00 to $64.00 in a research report sent to investors on Wednesday, Benzinga reports. They currently have a buy rating on the stock.

A number of other equities research analysts also recently commented on NTLA. Evercore ISI upgraded shares of Intellia Therapeutics to a strong-buy rating in a report on Friday, August 9th. Royal Bank of Canada cut their price target on Intellia Therapeutics from $60.00 to $54.00 and set an outperform rating for the company in a report on Friday, August 9th. Canaccord Genuity Group restated a buy rating and set a $73.00 price objective on shares of Intellia Therapeutics in a report on Thursday, June 27th. Cantor Fitzgerald reiterated an overweight rating and set a $65.00 target price on shares of Intellia Therapeutics in a research report on Monday, June 24th. Finally, Truist Financial restated a buy rating and issued a $120.00 price target on shares of Intellia Therapeutics in a report on Monday, June 24th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average target price of $61.77.

Intellia Therapeutics Price Performance

NTLA stock opened at $22.07 on Wednesday. Intellia Therapeutics has a 12 month low of $19.21 and a 12 month high of $36.25. The firm has a market capitalization of $2.24 billion, a PE ratio of -4.12 and a beta of 1.77. The company’s 50 day simple moving average is $23.41 and its 200-day simple moving average is $24.46.

Intellia Therapeutics (NASDAQ:NTLA) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($1.52) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.23) by ($0.29). The firm had revenue of $7.00 million during the quarter, compared to analyst estimates of $19.68 million. The firm’s quarterly revenue was down 48.5% on a year-over-year basis. During the same quarter in the prior year, the company earned ($1.40) EPS. As a group, sell-side analysts anticipate that Intellia Therapeutics will post -5.19 earnings per share for the current year.

Institutional Investors Weigh In On Intellia Therapeutics

Institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in shares of Intellia Therapeutics by 8.9% during the 1st quarter. Vanguard Group Inc. now owns 9,093,712 shares of the company’s stock valued at $250,168,000 after acquiring an additional 746,263 shares in the last quarter. ARK Investment Management LLC boosted its position in shares of Intellia Therapeutics by 5.5% in the second quarter. ARK Investment Management LLC now owns 11,595,789 shares of the company’s stock worth $259,514,000 after buying an additional 606,507 shares during the period. Norges Bank acquired a new stake in Intellia Therapeutics in the fourth quarter valued at approximately $16,348,000. Federated Hermes Inc. increased its stake in Intellia Therapeutics by 19.2% during the 2nd quarter. Federated Hermes Inc. now owns 2,300,889 shares of the company’s stock worth $51,494,000 after buying an additional 371,189 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Intellia Therapeutics during the fourth quarter worth about $9,086,000. 88.77% of the stock is currently 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.