Intellia Therapeutics (NASDAQ:NTLA) Given New $40.00 Price Target at Oppenheimer

Intellia Therapeutics (NASDAQ:NTLA - Get Free Report) had its target price dropped by research analysts at Oppenheimer from $60.00 to $40.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has an "outperform" rating on the stock. Oppenheimer's target price would suggest a potential upside of 298.01% from the company's previous close.

Several other equities analysts also recently commented on the stock. Citigroup lowered their target price on shares of Intellia Therapeutics from $25.00 to $19.00 and set a "neutral" rating on the stock in a research report on Friday, October 25th. Royal Bank of Canada reissued an "outperform" rating and set a $54.00 price objective on shares of Intellia Therapeutics in a report on Thursday, September 19th. William Blair restated a "neutral" rating and issued a $14.00 target price on shares of Intellia Therapeutics in a report on Monday, November 18th. Wells Fargo & Company decreased their target price on Intellia Therapeutics from $70.00 to $60.00 and set an "overweight" rating for the company in a research report on Friday. Finally, BMO Capital Markets dropped their price target on shares of Intellia Therapeutics from $70.00 to $50.00 and set an "outperform" rating on the stock in a research report on Friday. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Intellia Therapeutics currently has a consensus rating of "Moderate Buy" and a consensus price target of $51.56.

Intellia Therapeutics Stock Performance

Shares of NASDAQ NTLA traded down $0.15 during trading hours on Monday, hitting $10.05. The stock had a trading volume of 4,041,859 shares, compared to its average volume of 3,387,877. The firm's 50-day moving average price is $13.67 and its two-hundred day moving average price is $18.84. Intellia Therapeutics has a 52 week low of $9.65 and a 52 week high of $34.87. The company has a market capitalization of $1.02 billion, a P/E ratio of -1.85 and a beta of 1.83.

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

Insider Buying and Selling

In other news, CEO John M. Leonard sold 26,807 shares of the stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $12.18, for a total value of $326,509.26. Following the completion of the transaction, the chief executive officer now directly owns 941,115 shares of the company's stock, valued at approximately $11,462,780.70. This represents a 2.77 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders sold a total of 28,735 shares of company stock valued at $349,909 over the last ninety days. 3.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of NTLA. AdvisorNet Financial Inc grew its holdings in shares of Intellia Therapeutics by 96.4% in the 4th quarter. AdvisorNet Financial Inc now owns 10,085 shares of the company's stock worth $118,000 after purchasing an additional 4,950 shares during the last quarter. Green Alpha Advisors LLC acquired a new position in Intellia Therapeutics in the fourth quarter valued at about $138,000. Franklin Resources Inc. grew its stake in Intellia Therapeutics by 10.3% during the third quarter. Franklin Resources Inc. now owns 16,405 shares of the company's stock worth $320,000 after buying an additional 1,538 shares during the last quarter. Sanctuary Advisors LLC increased its holdings in shares of Intellia Therapeutics by 147.9% during the third quarter. Sanctuary Advisors LLC now owns 53,590 shares of the company's stock worth $1,101,000 after buying an additional 31,976 shares in the last quarter. Finally, Virtu Financial LLC bought a new position in shares of Intellia Therapeutics in the third quarter valued at approximately $417,000. 88.77% of the stock is currently owned by institutional investors and hedge funds.

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.