Intellia Therapeutics (NASDAQ:NTLA) Price Target Lowered to $26.00 at Chardan Capital

Intellia Therapeutics (NASDAQ:NTLA) had its target price reduced by Chardan Capital from $48.00 to $26.00 in a research note released on Friday,Benzinga reports. They currently have a buy rating on the stock.

Other equities analysts have also recently issued research reports about the company. Robert W. Baird set a $9.00 target price on Intellia Therapeutics in a report on Thursday, October 30th. Royal Bank Of Canada reduced their price objective on Intellia Therapeutics from $14.00 to $9.00 and set a “sector perform” rating for the company in a research note on Friday. Citigroup restated a “market outperform” rating on shares of Intellia Therapeutics in a report on Tuesday, October 28th. Citizens Jmp dropped their target price on shares of Intellia Therapeutics from $29.00 to $21.00 and set a “market outperform” rating for the company in a report on Friday. Finally, Wall Street Zen upgraded shares of Intellia Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, September 6th. Twelve investment 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, Intellia Therapeutics presently has an average rating of “Hold” and an average price target of $20.39.

Intellia Therapeutics Trading Down 22.7%

NTLA traded down $2.80 during midday trading on Friday, hitting $9.52. 25,372,622 shares of the company traded hands, compared to its average volume of 10,223,058. The business has a 50 day simple moving average of $17.19 and a two-hundred day simple moving average of $12.47. Intellia Therapeutics has a 52-week low of $5.90 and a 52-week high of $28.25. The company has a market capitalization of $1.02 billion, a price-to-earnings ratio of -2.23 and a beta of 2.44.

Intellia Therapeutics (NASDAQ:NTLA) last released its earnings results on Thursday, November 6th. The company reported ($0.92) EPS for the quarter, topping analysts’ consensus estimates of ($1.02) by $0.10. Intellia Therapeutics had a negative net margin of 774.94% and a negative return on equity of 56.28%. The business had revenue of $13.78 million during the quarter, compared to analysts’ expectations of $14.12 million. During the same quarter in the previous year, the company earned ($1.34) earnings per share. The company’s quarterly revenue was up 51.6% on a year-over-year basis. Equities research analysts anticipate that Intellia Therapeutics will post -5.07 earnings per share for the current year.

Insider Buying and Selling

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in NTLA. Wealth Enhancement Advisory Services LLC acquired a new stake in Intellia Therapeutics during the 1st quarter worth approximately $98,000. Cambridge Investment Research Advisors Inc. increased its position in shares of Intellia Therapeutics by 51.7% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 19,726 shares of the company’s stock worth $140,000 after acquiring an additional 6,722 shares during the period. Allspring Global Investments Holdings LLC raised its stake in shares of Intellia Therapeutics by 30.6% in the first quarter. Allspring Global Investments Holdings LLC now owns 16,798 shares of the company’s stock valued at $112,000 after acquiring an additional 3,935 shares in the last quarter. D.A. Davidson & CO. boosted its holdings in Intellia Therapeutics by 76.2% in the first quarter. D.A. Davidson & CO. now owns 26,020 shares of the company’s stock valued at $185,000 after purchasing an additional 11,250 shares during the period. Finally, Envestnet Asset Management Inc. boosted its holdings in Intellia Therapeutics by 9.7% in the first quarter. Envestnet Asset Management Inc. now owns 73,150 shares of the company’s stock valued at $520,000 after purchasing an additional 6,496 shares during the period. 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.