Citigroup Forecasts Strong Price Appreciation for Intellia Therapeutics (NASDAQ:NTLA) Stock

Intellia Therapeutics (NASDAQ:NTLA) had its target price raised by research analysts at Citigroup from $12.00 to $14.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Citigroup’s price target suggests a potential upside of 41.92% from the stock’s previous close.

A number of other equities research analysts have also weighed in on the stock. The Goldman Sachs Group reiterated a “sell” rating and set a $9.00 price objective on shares of Intellia Therapeutics in a report on Friday. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $13.00 target price (down from $45.00) on shares of Intellia Therapeutics in a research report on Friday. StockNews.com upgraded Intellia Therapeutics to a “sell” rating in a research note on Friday, November 8th. BMO Capital Markets dropped their target price on shares of Intellia Therapeutics from $70.00 to $50.00 and set an “outperform” rating on the stock in a report on Friday, January 10th. Finally, Barclays reduced their price target on shares of Intellia Therapeutics from $76.00 to $55.00 and set an “overweight” rating for the company in a report on Friday, November 8th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Intellia Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $43.82.

Intellia Therapeutics Trading Down 9.2 %

NTLA traded down $1.00 during trading hours on Friday, hitting $9.87. The company’s stock had a trading volume of 2,658,062 shares, compared to its average volume of 3,244,369. Intellia Therapeutics has a 12 month low of $8.96 and a 12 month high of $34.87. The stock has a market cap of $1.00 billion, a price-to-earnings ratio of -1.81 and a beta of 1.80. The business’s 50-day moving average price is $10.90 and its 200-day moving average price is $15.72.

Insiders Place Their Bets

In related news, CEO John M. Leonard sold 26,807 shares of the business’s stock in a transaction on Friday, January 3rd. The shares were 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 approximately $11,462,780.70. The trade was a 2.77 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last 90 days, insiders have sold 29,000 shares of company stock worth $352,551. 3.20% of the stock is owned by corporate insiders.

Institutional Trading of Intellia Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of the stock. GF Fund Management CO. LTD. acquired a new stake in Intellia Therapeutics in the 4th quarter worth about $25,000. Sterling Capital Management LLC lifted its position in shares of Intellia Therapeutics by 866.2% in the fourth quarter. Sterling Capital Management LLC now owns 3,198 shares of the company’s stock valued at $37,000 after acquiring an additional 2,867 shares in the last quarter. Whipplewood Advisors LLC acquired a new stake in shares of Intellia Therapeutics in the fourth quarter worth approximately $40,000. Resona Asset Management Co. Ltd. purchased a new stake in shares of Intellia Therapeutics during the fourth quarter worth approximately $43,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in Intellia Therapeutics by 27.6% in 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 during the last quarter. Hedge funds and other institutional investors 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.