Wells Fargo & Company Cuts Intellia Therapeutics (NASDAQ:NTLA) Price Target to $60.00

Intellia Therapeutics (NASDAQ:NTLA - Get Free Report) had its price objective cut by stock analysts at Wells Fargo & Company from $70.00 to $60.00 in a report issued on Friday,Benzinga reports. The firm presently has an "overweight" rating on the stock. Wells Fargo & Company's price objective indicates a potential upside of 488.24% from the company's previous close.

NTLA has been the topic of a number of other reports. William Blair restated a "neutral" rating and issued a $14.00 price target on shares of Intellia Therapeutics in a research report on Monday, November 18th. Robert W. Baird reduced their target price on shares of Intellia Therapeutics from $24.00 to $18.00 and set a "neutral" rating on the stock in a research report on Friday, October 25th. The Goldman Sachs Group lowered their price target on shares of Intellia Therapeutics from $31.00 to $20.00 and set a "neutral" rating for the company in a report on Friday, October 25th. Oppenheimer reduced their price objective on Intellia Therapeutics from $70.00 to $60.00 and set an "outperform" rating on the stock in a report on Monday, November 11th. Finally, StockNews.com raised Intellia Therapeutics to a "sell" rating in a research note on Friday, November 8th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Intellia Therapeutics currently has an average rating of "Moderate Buy" and an average price target of $53.06.

Intellia Therapeutics Stock Down 15.1 %

Intellia Therapeutics stock traded down $1.82 during trading hours on Friday, hitting $10.20. The stock had a trading volume of 7,215,488 shares, compared to its average volume of 3,277,925. Intellia Therapeutics has a fifty-two week low of $9.93 and a fifty-two week high of $34.87. The company has a market cap of $1.04 billion, a PE ratio of -1.87 and a beta of 1.83. The company has a 50-day moving average of $13.87 and a two-hundred day moving average of $19.10.

Intellia Therapeutics (NASDAQ:NTLA - Get Free Report) last released its quarterly earnings data on Thursday, November 7th. The company reported ($1.34) EPS for the quarter, topping analysts' consensus estimates of ($1.37) by $0.03. The business had revenue of $9.10 million for the quarter, compared to the consensus estimate of $8.28 million. During the same period in the previous year, the business posted ($1.38) earnings per share. Intellia Therapeutics's revenue was down 24.1% on a year-over-year basis. As a group, analysts forecast that Intellia Therapeutics will post -5.12 EPS for the current fiscal year.

Insider Transactions at Intellia Therapeutics

In other Intellia Therapeutics news, CEO John M. Leonard sold 26,807 shares of the business's stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $12.18, for a total transaction of $326,509.26. Following 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 SEC, which is available through this link. Insiders sold 28,735 shares of company stock valued at $349,909 over the last quarter. Corporate insiders own 3.20% of the company's stock.

Institutional Trading of Intellia Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the stock. State Street Corp increased its position in Intellia Therapeutics by 17.9% during the third quarter. State Street Corp now owns 5,143,534 shares of the company's stock worth $105,700,000 after buying an additional 780,754 shares during the last quarter. Patient Square Capital LP acquired a new position in shares of Intellia Therapeutics during the 3rd quarter worth approximately $2,642,000. Dimensional Fund Advisors LP raised its stake in Intellia Therapeutics by 8.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,324,561 shares of the company's stock valued at $29,648,000 after acquiring an additional 98,865 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Intellia Therapeutics by 4.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 827,545 shares of the company's stock valued at $17,006,000 after purchasing an additional 37,714 shares during the last quarter. Finally, Verition Fund Management LLC boosted its position in Intellia Therapeutics by 116.3% during the third quarter. Verition Fund Management LLC now owns 94,426 shares of the company's stock worth $1,940,000 after purchasing an additional 50,763 shares during the period. Institutional investors own 88.77% of the company's stock.

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.