Intellia Therapeutics (NASDAQ:NTLA) Price Target Cut to $55.00 by Analysts at Barclays

Intellia Therapeutics (NASDAQ:NTLA - Get Free Report) had its price target reduced by Barclays from $76.00 to $55.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. Barclays's target price suggests a potential upside of 228.75% from the company's previous close.

NTLA has been the subject of several other research reports. Robert W. Baird decreased their price objective on Intellia Therapeutics from $24.00 to $18.00 and set a "neutral" rating for the company in a research note on Friday, October 25th. The Goldman Sachs Group reduced their price objective on shares of Intellia Therapeutics from $31.00 to $20.00 and set a "neutral" rating for the company in a research report on Friday, October 25th. Citigroup cut their price target on shares of Intellia Therapeutics from $25.00 to $19.00 and set a "neutral" rating on the stock in a research note on Friday, October 25th. Stifel Nicolaus decreased their price objective on shares of Intellia Therapeutics from $80.00 to $64.00 and set a "buy" rating for the company in a research note on Wednesday, September 11th. Finally, Chardan Capital cut their target price on Intellia Therapeutics from $94.00 to $88.00 and set a "buy" rating on the stock in a research report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $57.94.

Intellia Therapeutics Trading Up 4.6 %

NTLA stock traded up $0.73 during midday trading on Friday, reaching $16.73. The stock had a trading volume of 2,417,141 shares, compared to its average volume of 2,854,846. The company's fifty day simple moving average is $19.17 and its 200 day simple moving average is $22.22. The company has a market cap of $1.70 billion, a price-to-earnings ratio of -3.05 and a beta of 1.81. Intellia Therapeutics has a 52-week low of $13.95 and a 52-week high of $34.87.

Intellia Therapeutics (NASDAQ:NTLA - Get Free Report) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($1.34) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($1.37) by $0.03. The firm had revenue of $9.10 million for the quarter, compared to analyst estimates of $8.28 million. During the same quarter in the prior year, the business earned ($1.38) EPS. The firm's quarterly revenue was down 24.1% on a year-over-year basis. Sell-side analysts predict that Intellia Therapeutics will post -5.21 EPS for the current year.

Insider Transactions at Intellia Therapeutics

In other news, CAO Michael P. Dube sold 2,012 shares of the business's stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $19.01, for a total transaction of $38,248.12. Following the transaction, the chief accounting officer now directly owns 47,012 shares of the company's stock, valued at approximately $893,698.12. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 3.20% of the company's stock.

Institutional Trading of Intellia Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the business. Blue Trust Inc. boosted its holdings in Intellia Therapeutics by 1,664.3% in the second quarter. Blue Trust Inc. now owns 1,482 shares of the company's stock valued at $33,000 after purchasing an additional 1,398 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Intellia Therapeutics by 763.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,753 shares of the company's stock valued at $39,000 after buying an additional 1,550 shares during the last quarter. Eastern Bank acquired a new stake in shares of Intellia Therapeutics during the third quarter worth approximately $41,000. Values First Advisors Inc. acquired a new stake in shares of Intellia Therapeutics during the third quarter worth approximately $54,000. Finally, First Horizon Advisors Inc. increased its stake in shares of Intellia Therapeutics by 22.1% in the second quarter. First Horizon Advisors Inc. now owns 2,604 shares of the company's stock worth $58,000 after buying an additional 472 shares during the last quarter. 88.77% of the stock is owned by hedge funds and other 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.