Intellia Therapeutics (NASDAQ:NTLA) Price Target Lowered to $50.00 at Truist Financial

Intellia Therapeutics (NASDAQ:NTLA - Get Free Report) had its price objective cut by analysts at Truist Financial from $90.00 to $50.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Truist Financial's target price would indicate a potential upside of 405.05% from the company's previous close.

Several other analysts have also recently weighed in on NTLA. Chardan Capital dropped their price objective on shares of Intellia Therapeutics from $91.00 to $68.00 and set a "buy" rating for the company in a research note on Friday, February 28th. Morgan Stanley cut Intellia Therapeutics from an "overweight" rating to an "equal weight" rating and cut their price target for the company from $56.00 to $11.00 in a research note on Monday, January 27th. Barclays reduced their price target on Intellia Therapeutics from $55.00 to $26.00 and set an "overweight" rating on the stock in a research report on Friday, February 28th. William Blair reaffirmed a "neutral" rating and issued a $14.00 price objective on shares of Intellia Therapeutics in a report on Monday, November 18th. Finally, Wells Fargo & Company reduced their target price on Intellia Therapeutics from $60.00 to $50.00 and set an "overweight" rating on the stock in a report on Friday, February 28th. Two analysts have rated the stock with a sell rating, six have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Intellia Therapeutics has a consensus rating of "Moderate Buy" and an average price target of $37.56.

Intellia Therapeutics Trading Up 5.8 %

NTLA stock traded up $0.54 during trading hours on Tuesday, hitting $9.90. 4,489,288 shares of the stock were exchanged, compared to its average volume of 3,369,182. Intellia Therapeutics has a 12 month low of $8.30 and a 12 month high of $32.00. The firm has a market capitalization of $1.02 billion, a P/E ratio of -1.82 and a beta of 1.97. The company has a 50-day simple moving average of $10.69 and a two-hundred day simple moving average of $15.32.

Insiders Place Their Bets

In other Intellia Therapeutics news, CEO John M. Leonard sold 26,807 shares of the stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $12.18, for a total transaction of $326,509.26. Following the completion of the sale, the chief executive officer now 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last three months, insiders have sold 29,000 shares of company stock valued at $352,551. 3.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Intellia Therapeutics

Institutional investors have recently modified their holdings of the company. GF Fund Management CO. LTD. acquired a new position in Intellia Therapeutics in the fourth quarter valued at $25,000. Sterling Capital Management LLC raised its position in shares of Intellia Therapeutics by 866.2% in the 4th quarter. Sterling Capital Management LLC now owns 3,198 shares of the company's stock worth $37,000 after acquiring an additional 2,867 shares in the last quarter. Whipplewood Advisors LLC acquired a new position in shares of Intellia Therapeutics in the 4th quarter valued at about $40,000. Resona Asset Management Co. Ltd. bought a new stake in shares of Intellia Therapeutics during the 4th quarter valued at about $43,000. Finally, Jones Financial Companies Lllp grew its stake in Intellia Therapeutics by 140.9% during the fourth quarter. Jones Financial Companies Lllp now owns 3,898 shares of the company's stock worth $45,000 after purchasing an additional 2,280 shares during the period. 88.77% of the stock is owned by institutional investors.

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.