Intellia Therapeutics (NASDAQ:NTLA) Given New $60.00 Price Target at Chardan Capital

Intellia Therapeutics (NASDAQ:NTLA) had its target price lowered by Chardan Capital from $68.00 to $60.00 in a report issued on Monday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Other equities analysts also recently issued reports about the stock. Wedbush reaffirmed a “neutral” rating and set a $7.00 price objective on shares of Intellia Therapeutics in a report on Monday, June 16th. HC Wainwright reduced their price objective on shares of Intellia Therapeutics from $30.00 to $25.00 and set a “buy” rating for the company in a report on Friday. Canaccord Genuity Group reduced their price objective on shares of Intellia Therapeutics from $74.00 to $54.00 and set a “buy” rating for the company in a report on Tuesday, June 3rd. Citigroup reduced their price objective on shares of Intellia Therapeutics from $14.00 to $10.00 and set a “neutral” rating for the company in a report on Friday, May 9th. Finally, Guggenheim reduced their price objective on shares of Intellia Therapeutics from $55.00 to $45.00 and set a “buy” rating for the company in a report on Monday, May 12th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $30.68.

Intellia Therapeutics Price Performance

Shares of Intellia Therapeutics stock opened at $10.74 on Monday. Intellia Therapeutics has a fifty-two week low of $5.90 and a fifty-two week high of $24.16. The firm has a fifty day moving average price of $10.62 and a two-hundred day moving average price of $9.48. The company has a market cap of $1.11 billion, a PE ratio of -2.29 and a beta of 2.31.

Intellia Therapeutics (NASDAQ:NTLA) last issued its quarterly earnings results on Thursday, August 7th. The company reported ($0.99) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.03) by $0.04. Intellia Therapeutics had a negative net margin of 908.48% and a negative return on equity of 54.90%. The firm had revenue of $14.25 million during the quarter, compared to the consensus estimate of $12.26 million. During the same period in the prior year, the firm earned ($1.52) EPS. The business’s revenue was up 104.3% on a year-over-year basis. Analysts expect that Intellia Therapeutics will post -5.07 earnings per share for the current fiscal year.

Insider Buying and Selling at Intellia Therapeutics

In other Intellia Therapeutics news, EVP Edward J. Dulac III sold 7,462 shares of the business’s stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $14.02, for a total value of $104,617.24. Following the completion of the transaction, the executive vice president directly owned 106,062 shares of the company’s stock, valued at approximately $1,486,989.24. The trade was a 6.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders have sold 12,534 shares of company stock valued at $153,837 over the last ninety days. Insiders own 3.10% of the company’s stock.

Hedge Funds Weigh In On Intellia Therapeutics

Institutional investors have recently modified their holdings of the stock. Cambridge Investment Research Advisors Inc. raised its stake in shares of Intellia Therapeutics by 51.7% in 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 last quarter. D.A. Davidson & CO. raised its stake in shares of Intellia Therapeutics by 76.2% in the first quarter. D.A. Davidson & CO. now owns 26,020 shares of the company’s stock worth $185,000 after acquiring an additional 11,250 shares during the last quarter. California State Teachers Retirement System raised its stake in shares of Intellia Therapeutics by 4.1% in the fourth quarter. California State Teachers Retirement System now owns 90,638 shares of the company’s stock worth $1,057,000 after acquiring an additional 3,596 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Intellia Therapeutics in the fourth quarter worth about $4,793,000. Finally, Baker BROS. Advisors LP bought a new position in shares of Intellia Therapeutics in the fourth quarter worth about $7,510,000. 88.77% of the stock is owned by institutional investors.

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.