Barclays Cuts Intellia Therapeutics (NASDAQ:NTLA) Price Target to $14.00

Intellia Therapeutics (NASDAQ:NTLA) had its price target reduced by Barclays from $24.00 to $14.00 in a research report sent to investors on Friday,Benzinga reports. Barclays currently has an overweight rating on the stock.

A number of other research analysts have also weighed in on the stock. Wells Fargo & Company reissued an “equal weight” rating and issued a $17.00 target price (down from $45.00) on shares of Intellia Therapeutics in a report on Tuesday, October 28th. Royal Bank Of Canada reiterated a “sector perform” rating and set a $14.00 price objective (down previously from $21.00) on shares of Intellia Therapeutics in a research report on Tuesday, October 28th. Bank of America reduced their target price 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. Oppenheimer set a $27.00 target price on shares of Intellia Therapeutics in a research report on Friday. Finally, Guggenheim lowered Intellia Therapeutics from a “buy” rating to a “neutral” rating in a research report on Monday, October 27th. Twelve analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $18.70.

Intellia Therapeutics Trading Up 2.2%

NTLA traded up $0.21 during trading on Friday, hitting $9.73. 13,349,413 shares of the company traded hands, compared to its average volume of 5,144,639. The stock’s 50-day simple moving average is $17.19 and its two-hundred day simple moving average is $12.53. Intellia Therapeutics has a 1 year low of $5.90 and a 1 year high of $28.25. The company has a market cap of $1.04 billion, a PE ratio of -2.28 and a beta of 2.45.

Intellia Therapeutics (NASDAQ:NTLA) last posted 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. The company had revenue of $13.78 million for the quarter, compared to the consensus estimate of $14.12 million. Intellia Therapeutics had a negative return on equity of 57.01% and a negative net margin of 774.94%.The firm’s revenue for the quarter was up 51.6% on a year-over-year basis. During the same period in the previous year, the business earned ($1.34) earnings per share. Equities analysts expect that Intellia Therapeutics will post -5.07 EPS for the current year.

Insider Activity

In related news, CAO Michael P. Dube sold 1,871 shares of the business’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $17.38, for a total value of $32,517.98. Following the completion of the sale, the chief accounting officer owned 55,266 shares in the company, valued at approximately $960,523.08. The trade was a 3.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William J. Chase bought 100,000 shares of the business’s stock in a transaction on Wednesday, August 20th. The shares were acquired 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 in the company, valued at approximately $1,350,970.79. This trade represents a 288.24% increase in their position. The SEC filing for this purchase provides additional information. 3.10% of the stock is owned by insiders.

Institutional Trading of Intellia Therapeutics

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