JPMorgan Chase & Co. Reiterates Neutral Rating for Intellia Therapeutics (NASDAQ:NTLA)

JPMorgan Chase & Co. restated their neutral rating on shares of Intellia Therapeutics (NASDAQ:NTLA - Free Report) in a research note issued to investors on Friday morning, Marketbeat reports. The brokerage currently has a $13.00 target price on the stock, down from their prior target price of $45.00.

A number of other equities analysts also recently commented on the stock. Wedbush restated a "neutral" rating and set a $10.00 price objective (down from $14.00) on shares of Intellia Therapeutics in a research note on Friday, January 10th. Wells Fargo & Company reduced their price objective on shares of Intellia Therapeutics from $70.00 to $60.00 and set an "overweight" rating for the company in a research note on Friday, January 10th. Canaccord Genuity Group restated a "buy" rating and set a $90.00 price objective on shares of Intellia Therapeutics in a research note on Tuesday, November 19th. The Goldman Sachs Group cut their target price on shares of Intellia Therapeutics from $19.00 to $12.00 and set a "neutral" rating for the company in a research note on Tuesday, January 14th. Finally, BMO Capital Markets cut their target price on shares of Intellia Therapeutics from $70.00 to $50.00 and set an "outperform" rating for the company in a research note on Friday, January 10th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $42.12.

Intellia Therapeutics Trading Down 6.3 %

Shares of Intellia Therapeutics stock traded down $0.64 during trading hours on Friday, reaching $9.45. 2,998,270 shares of the company's stock were exchanged, compared to its average volume of 3,289,680. The company has a 50 day moving average of $10.85 and a two-hundred day moving average of $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 $962.47 million, a P/E ratio of -1.74 and a beta of 1.80.

Insider Buying and Selling at Intellia Therapeutics

In other Intellia Therapeutics news, CEO John M. Leonard sold 26,807 shares of the stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $12.18, for a total value of $326,509.26. Following the transaction, the chief executive officer now directly owns 941,115 shares of the company's stock, valued at $11,462,780.70. This represents a 2.77 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold a total of 29,000 shares of company stock valued at $352,551 in the last three months. 3.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in NTLA. GF Fund Management CO. LTD. acquired a new position in shares of Intellia Therapeutics during the fourth quarter worth $25,000. Sterling Capital Management LLC lifted its holdings in shares of Intellia Therapeutics by 866.2% during the fourth 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 position in shares of Intellia Therapeutics during the fourth quarter worth $40,000. Resona Asset Management Co. Ltd. acquired a new position in shares of Intellia Therapeutics during the fourth quarter worth $43,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Intellia Therapeutics by 27.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,674 shares of the company's stock worth $77,000 after purchasing an additional 794 shares during the period. 88.77% of the stock is owned by institutional investors.

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.