Citigroup Lowers Intellia Therapeutics (NASDAQ:NTLA) Price Target to $19.00

Intellia Therapeutics (NASDAQ:NTLA) had its price objective lowered by Citigroup from $25.00 to $19.00 in a research note published on Friday morning, Benzinga reports. Citigroup currently has a neutral rating on the stock.

NTLA has been the topic of a number of other reports. Stifel Nicolaus dropped their price objective on shares of Intellia Therapeutics from $80.00 to $64.00 and set a “buy” rating on the stock in a research report on Wednesday, September 11th. JPMorgan Chase & Co. dropped their target price on Intellia Therapeutics from $61.00 to $55.00 and set an “overweight” rating on the stock in a report on Monday, August 12th. Robert W. Baird decreased their price target on Intellia Therapeutics from $24.00 to $18.00 and set a “neutral” rating for the company in a report on Friday. StockNews.com raised Intellia Therapeutics to a “sell” rating in a research report on Thursday, June 27th. Finally, Evercore ISI raised Intellia Therapeutics to a “strong-buy” rating in a research report on Friday, August 9th. One research analyst has rated the stock with a sell rating, five have given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $59.13.

Intellia Therapeutics Price Performance

NTLA opened at $15.95 on Friday. The stock has a market capitalization of $1.62 billion, a price-to-earnings ratio of -2.91 and a beta of 1.76. The business has a fifty day moving average price of $20.71 and a 200 day moving average price of $22.75. Intellia Therapeutics has a 12 month low of $15.35 and a 12 month high of $34.87.

Intellia Therapeutics (NASDAQ:NTLA) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($1.52) EPS for the quarter, missing analysts’ consensus estimates 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. During the same period in the previous year, the company posted ($1.40) earnings per share. The business’s quarterly revenue was down 48.5% on a year-over-year basis. On average, research analysts anticipate that Intellia Therapeutics will post -5.22 earnings per share for the current year.

Insider Activity

In related news, CAO Michael P. Dube sold 2,012 shares of the stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $19.01, for a total transaction of $38,248.12. Following the completion of the sale, the chief accounting officer now owns 47,012 shares in the company, valued at $893,698.12. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 3.20% of the company’s stock.

Institutional Trading of Intellia Therapeutics

A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in shares of Intellia Therapeutics by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 8,347,449 shares of the company’s stock worth $254,514,000 after purchasing an additional 155,579 shares during the last quarter. PNC Financial Services Group Inc. raised its position in Intellia Therapeutics by 209.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 10,561 shares of the company’s stock worth $322,000 after buying an additional 7,151 shares during the last quarter. SteelPeak Wealth LLC acquired a new stake in shares of Intellia Therapeutics in the 1st quarter worth $229,000. Allspring Global Investments Holdings LLC boosted its holdings in shares of Intellia Therapeutics by 9.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 8,894 shares of the company’s stock valued at $245,000 after acquiring an additional 750 shares in the last quarter. Finally, Commonwealth Equity Services LLC boosted its holdings in shares of Intellia Therapeutics by 6.2% in the first quarter. Commonwealth Equity Services LLC now owns 34,593 shares of the company’s stock valued at $952,000 after acquiring an additional 2,034 shares in the last quarter. 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.