Citigroup Forecasts Strong Price Appreciation for Intellia Therapeutics (NASDAQ:NTLA) Stock

Intellia Therapeutics (NASDAQ:NTLA - Get Free Report) had its price objective boosted by stock analysts at Citigroup from $12.00 to $14.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has a "neutral" rating on the stock. Citigroup's price target would suggest a potential upside of 47.94% from the stock's current price.

Other analysts have also issued reports about the stock. William Blair reiterated a "neutral" rating and issued a $14.00 price target on shares of Intellia Therapeutics in a research report on Monday, November 18th. JPMorgan Chase & Co. reiterated a "neutral" rating and set a $13.00 target price (down previously from $45.00) on shares of Intellia Therapeutics in a report on Friday. Barclays cut their price target on Intellia Therapeutics from $76.00 to $55.00 and set an "overweight" rating for the company in a report on Friday, November 8th. Oppenheimer reduced their price objective on Intellia Therapeutics from $60.00 to $40.00 and set an "outperform" rating on the stock in a research report on Monday, January 13th. Finally, BMO Capital Markets dropped their price objective on Intellia Therapeutics from $70.00 to $50.00 and set an "outperform" rating for the company in a research report on Friday, January 10th. Two analysts have rated the stock with a sell rating, six have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $42.12.

Intellia Therapeutics Stock Performance

NASDAQ NTLA traded down $0.63 during trading hours on Friday, reaching $9.46. The company's stock had a trading volume of 2,639,806 shares, compared to its average volume of 3,268,202. The company's 50-day moving average is $10.85 and its two-hundred day moving average is $15.55. Intellia Therapeutics has a fifty-two week low of $8.96 and a fifty-two week high of $33.28. The stock has a market cap of $963.80 million, a PE ratio of -1.74 and a beta of 1.80.

Insiders Place Their Bets

In other news, CEO John M. Leonard sold 26,807 shares of the business's stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $12.18, for a total transaction of $326,509.26. Following the completion of the sale, the chief executive officer now directly owns 941,115 shares of the company's stock, valued at $11,462,780.70. The trade was a 2.77 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders have sold a total of 29,000 shares of company stock valued at $352,551 over the last quarter. Company insiders own 3.20% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NTLA. GF Fund Management CO. LTD. acquired a new stake in Intellia Therapeutics during the fourth quarter worth about $25,000. Sterling Capital Management LLC grew its holdings in shares of Intellia Therapeutics by 866.2% during the 4th quarter. Sterling Capital Management LLC now owns 3,198 shares of the company's stock worth $37,000 after purchasing an additional 2,867 shares during the period. Whipplewood Advisors LLC acquired a new stake in Intellia Therapeutics during the 4th quarter worth approximately $40,000. Resona Asset Management Co. Ltd. purchased a new position in Intellia Therapeutics in the fourth quarter valued at approximately $43,000. Finally, Jones Financial Companies Lllp lifted its position in Intellia Therapeutics by 140.9% during the fourth quarter. Jones Financial Companies Lllp now owns 3,898 shares of the company's stock valued at $45,000 after buying an additional 2,280 shares in the last quarter. Institutional investors and hedge funds 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.