Brokerages Set Intellia Therapeutics, Inc. (NASDAQ:NTLA) PT at $34.95

Shares of Intellia Therapeutics, Inc. (NASDAQ:NTLA) have earned an average rating of “Moderate Buy” from the twenty-one analysts that are currently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation, thirteen have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $34.95.

Several brokerages recently issued reports on NTLA. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $13.00 target price (down previously from $45.00) on shares of Intellia Therapeutics in a research report on Friday, February 28th. Barclays cut their price objective on Intellia Therapeutics from $55.00 to $26.00 and set an “overweight” rating on the stock in a research report on Friday, February 28th. Wolfe Research raised Intellia Therapeutics from a “peer perform” rating to an “outperform” rating and set a $21.00 price objective on the stock in a research report on Monday, April 21st. The Goldman Sachs Group reissued a “sell” rating and issued a $9.00 price objective on shares of Intellia Therapeutics in a research report on Friday, February 28th. Finally, Wells Fargo & Company cut their price objective on Intellia Therapeutics from $60.00 to $50.00 and set an “overweight” rating on the stock in a research report on Friday, February 28th.

Institutional Trading of Intellia Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Intellia Therapeutics by 8.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 521,706 shares of the company’s stock valued at $3,709,000 after purchasing an additional 38,521 shares during the period. Woodline Partners LP purchased a new position in Intellia Therapeutics during the first quarter worth about $171,000. Arete Wealth Advisors LLC grew its position in Intellia Therapeutics by 21.8% during the first quarter. Arete Wealth Advisors LLC now owns 12,512 shares of the company’s stock worth $89,000 after buying an additional 2,240 shares in the last quarter. Granahan Investment Management LLC grew its position in Intellia Therapeutics by 55.3% during the first quarter. Granahan Investment Management LLC now owns 475,946 shares of the company’s stock worth $3,384,000 after buying an additional 169,436 shares in the last quarter. Finally, AQR Capital Management LLC grew its position in Intellia Therapeutics by 154.1% during the first quarter. AQR Capital Management LLC now owns 90,875 shares of the company’s stock worth $646,000 after buying an additional 55,118 shares in the last quarter. 88.77% of the stock is currently owned by institutional investors.

Intellia Therapeutics Stock Up 6.7%

Shares of NASDAQ:NTLA opened at $8.09 on Wednesday. The stock has a market cap of $837.99 million, a price-to-earnings ratio of -1.49 and a beta of 2.14. Intellia Therapeutics has a 12-month low of $5.90 and a 12-month high of $28.18. The business’s 50 day moving average is $7.93 and its 200 day moving average is $10.01.

Intellia Therapeutics (NASDAQ:NTLA) last announced its earnings results on Thursday, May 8th. The company reported ($1.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.26) by $0.16. The company had revenue of $16.63 million for the quarter, compared to analysts’ expectations of $11.39 million. The firm’s quarterly revenue was down 42.6% on a year-over-year basis. During the same period in the previous year, the firm earned ($1.12) EPS. As a group, equities research analysts expect that Intellia Therapeutics will post -5.07 earnings per share for the current year.

Intellia Therapeutics Company Profile

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.