Intellia Therapeutics (NASDAQ:NTLA) Price Target Lowered to $50.00 at BMO Capital Markets

Intellia Therapeutics (NASDAQ:NTLA - Free Report) had its target price reduced by BMO Capital Markets from $70.00 to $50.00 in a report published on Friday morning,Benzinga reports. They currently have an outperform rating on the stock.

NTLA has been the topic of several other reports. William Blair reaffirmed a "neutral" rating and set a $14.00 price target on shares of Intellia Therapeutics in a research note on Monday, November 18th. Chardan Capital raised their target price on shares of Intellia Therapeutics from $88.00 to $91.00 and gave the stock a "buy" rating in a research report on Monday, November 18th. Wedbush reaffirmed a "neutral" rating and set a $14.00 price target on shares of Intellia Therapeutics in a research note on Monday, November 18th. The Goldman Sachs Group cut their target price on Intellia Therapeutics from $31.00 to $20.00 and set a "neutral" rating on the stock in a research report on Friday, October 25th. Finally, Canaccord Genuity Group restated a "buy" rating and set a $90.00 price target on shares of Intellia Therapeutics in a research note on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $53.06.

Intellia Therapeutics Stock Down 15.1 %

Shares of NASDAQ NTLA traded down $1.82 during midday trading on Friday, hitting $10.20. The company had a trading volume of 7,215,488 shares, compared to its average volume of 3,277,925. Intellia Therapeutics has a twelve month low of $9.93 and a twelve month high of $34.87. The firm has a market capitalization of $1.04 billion, a price-to-earnings ratio of -1.87 and a beta of 1.83. The business has a 50-day simple moving average of $13.87 and a two-hundred day simple moving average of $19.10.

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 for the quarter, beating analysts' consensus estimates of ($1.37) by $0.03. The firm had revenue of $9.10 million during the quarter, compared to analysts' expectations of $8.28 million. The company's quarterly revenue was down 24.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($1.38) EPS. On average, equities analysts forecast that Intellia Therapeutics will post -5.12 EPS for the current 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 transaction of $326,509.26. Following the sale, the chief executive officer now directly owns 941,115 shares in the company, valued at approximately $11,462,780.70. This represents a 2.77 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last three months, insiders sold 28,735 shares of company stock worth $349,909. Corporate insiders own 3.20% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. EverSource Wealth Advisors LLC increased its position in Intellia Therapeutics by 763.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,753 shares of the company's stock valued at $39,000 after acquiring an additional 1,550 shares during the period. Eastern Bank bought a new stake in Intellia Therapeutics during the third quarter worth approximately $41,000. Values First Advisors Inc. bought a new stake in shares of Intellia Therapeutics during the 3rd quarter worth $54,000. 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 valued at $77,000 after purchasing an additional 794 shares during the last quarter. Finally, KBC Group NV boosted its position in shares of Intellia Therapeutics by 37.3% in the 3rd quarter. KBC Group NV now owns 3,753 shares of the company's stock valued at $77,000 after purchasing an additional 1,020 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.