Intellia Therapeutics (NASDAQ:NTLA) Price Target Lowered to $12.00 at Wells Fargo & Company

Intellia Therapeutics (NASDAQ:NTLA) had its price objective reduced by stock analysts at Wells Fargo & Company from $17.00 to $12.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price points to a potential upside of 26.05% from the stock’s previous close.

Other equities research analysts also recently issued reports about the company. JMP Securities cut their price target on Intellia Therapeutics from $33.00 to $29.00 and set a “market outperform” rating for the company in a research note on Tuesday, October 28th. Bank of America dropped their price objective on shares of Intellia Therapeutics from $36.00 to $30.00 and set a “buy” rating on the stock in a report on Monday, October 27th. Chardan Capital reduced their target price on shares of Intellia Therapeutics from $60.00 to $48.00 and set a “buy” rating for the company in a report on Monday, October 27th. Oppenheimer set a $27.00 price target on shares of Intellia Therapeutics in a research report on Friday. Finally, JPMorgan Chase & Co. reiterated an “underweight” rating and set a $5.00 price target (down previously from $12.00) on shares of Intellia Therapeutics in a research note on Friday. Twelve equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $21.35.

Intellia Therapeutics Stock Down 22.7%

NTLA traded down $2.80 during mid-day trading on Friday, reaching $9.52. 25,357,311 shares of the company traded hands, compared to its average volume of 5,114,954. The company’s fifty day moving average price is $17.23 and its 200-day moving average price is $12.46. The stock has a market capitalization of $1.02 billion, a P/E ratio of -2.03 and a beta of 2.44. Intellia Therapeutics has a 52-week low of $5.90 and a 52-week high of $28.25.

Intellia Therapeutics (NASDAQ:NTLA) last issued its quarterly earnings data on Thursday, November 6th. The company reported ($0.92) EPS for the quarter, topping the consensus estimate of ($1.02) by $0.10. The company had revenue of $13.78 million during the quarter, compared to analyst estimates of $14.12 million. Intellia Therapeutics had a negative return on equity of 57.48% and a negative net margin of 908.48%.Intellia Therapeutics’s revenue was up 51.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($1.34) earnings per share. As a group, sell-side analysts forecast that Intellia Therapeutics will post -5.07 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director William J. Chase acquired 100,000 shares of the firm’s stock in a transaction dated Wednesday, August 20th. The shares were purchased at an average cost of $10.03 per share, for a total transaction of $1,003,000.00. Following the transaction, the director directly owned 134,693 shares of the company’s stock, valued at approximately $1,350,970.79. This trade represents a 288.24% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Michael P. Dube sold 1,871 shares of Intellia Therapeutics stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $17.38, for a total transaction of $32,517.98. Following the transaction, the chief accounting officer owned 55,266 shares in the company, valued at approximately $960,523.08. This trade represents a 3.27% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 3.10% of the company’s stock.

Institutional Trading of Intellia Therapeutics

Institutional investors have recently made changes to their positions in the business. ARK Investment Management LLC raised its stake in Intellia Therapeutics by 3.8% during the 1st quarter. ARK Investment Management LLC now owns 13,011,015 shares of the company’s stock valued at $92,508,000 after purchasing an additional 474,629 shares during the period. Vanguard Group Inc. boosted its stake in Intellia Therapeutics by 1.8% in the 3rd quarter. Vanguard Group Inc. now owns 11,044,820 shares of the company’s stock worth $190,744,000 after purchasing an additional 192,651 shares during the period. Geode Capital Management LLC grew its holdings in Intellia Therapeutics by 5.1% during the 2nd quarter. Geode Capital Management LLC now owns 2,606,222 shares of the company’s stock valued at $24,449,000 after buying an additional 126,049 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Intellia Therapeutics by 73.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 940,483 shares of the company’s stock valued at $8,822,000 after buying an additional 396,858 shares in the last quarter. Finally, Armistice Capital LLC raised its position in shares of Intellia Therapeutics by 78.6% during the second quarter. Armistice Capital LLC now owns 650,000 shares of the company’s stock valued at $6,097,000 after buying an additional 286,000 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.