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

Intellia Therapeutics (NASDAQ:NTLA) had its price target cut by stock analysts at Citigroup from $25.00 to $19.00 in a note issued to investors on Friday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Citigroup’s price objective would suggest a potential upside of 19.12% from the stock’s previous close.

NTLA has been the subject of several other reports. Chardan Capital decreased their price target on shares of Intellia Therapeutics from $94.00 to $88.00 and set a “buy” rating for the company in a report on Thursday. Stifel Nicolaus cut 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. cut their price objective on shares of Intellia Therapeutics from $61.00 to $55.00 and set an “overweight” rating on the stock in a research report on Monday, August 12th. Evercore ISI upgraded shares of Intellia Therapeutics to a “strong-buy” rating in a research report on Friday, August 9th. Finally, Robert W. Baird cut their price objective on shares of Intellia Therapeutics from $24.00 to $18.00 and set a “neutral” rating on the stock in a research report on Friday. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Intellia Therapeutics presently has an average rating of “Moderate Buy” and a consensus target price of $59.13.

Intellia Therapeutics Trading Up 0.6 %

NTLA stock traded up $0.10 during mid-day trading on Friday, hitting $15.95. 3,758,958 shares of the company were exchanged, compared to its average volume of 1,600,603. The company has a market capitalization of $1.62 billion, a PE ratio of -2.91 and a beta of 1.76. Intellia Therapeutics has a twelve month low of $15.35 and a twelve month high of $34.87. The firm has a fifty day simple moving average of $20.84 and a 200 day simple moving average of $22.82.

Intellia Therapeutics (NASDAQ:NTLA) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($1.52) EPS for the quarter, missing the consensus estimate of ($1.23) by ($0.29). The firm had revenue of $7.00 million for the quarter, compared to analyst estimates of $19.68 million. During the same period in the previous year, the business earned ($1.40) earnings per share. The business’s revenue for the quarter was down 48.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Intellia Therapeutics will post -5.22 earnings per share for the current year.

Insiders Place Their Bets

In other Intellia Therapeutics news, CAO Michael P. Dube sold 2,012 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $19.01, for a total transaction of $38,248.12. Following the sale, the chief accounting officer now directly owns 47,012 shares in the company, valued at approximately $893,698.12. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 3.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Intellia Therapeutics

Several hedge funds have recently made changes to their positions in the business. China Universal Asset Management Co. Ltd. grew its stake in shares of Intellia Therapeutics by 72.4% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 19,537 shares of the company’s stock worth $401,000 after purchasing an additional 8,204 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Intellia Therapeutics by 27.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,674 shares of the company’s stock worth $77,000 after acquiring an additional 794 shares in the last quarter. Values First Advisors Inc. purchased a new position in shares of Intellia Therapeutics in the third quarter worth approximately $54,000. Hennion & Walsh Asset Management Inc. increased its position in shares of Intellia Therapeutics by 34.7% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 53,721 shares of the company’s stock worth $1,104,000 after acquiring an additional 13,839 shares in the last quarter. Finally, Eastern Bank purchased a new position in shares of Intellia Therapeutics in the third quarter worth approximately $41,000. Institutional investors and hedge funds own 88.77% of the company’s stock.

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.