Intellia Therapeutics (NASDAQ:NTLA) Given New $60.00 Price Target at Oppenheimer

Intellia Therapeutics (NASDAQ:NTLA - Free Report) had its target price cut by Oppenheimer from $70.00 to $60.00 in a report published on Monday,Benzinga reports. They currently have an outperform rating on the stock.

Several other equities research analysts also recently weighed in on NTLA. Wedbush reaffirmed a "neutral" rating and issued a $14.00 target price on shares of Intellia Therapeutics in a research report on Thursday. Barclays decreased their target price on Intellia Therapeutics from $76.00 to $55.00 and set an "overweight" rating for the company in a research report on Friday. Evercore ISI raised Intellia Therapeutics to a "strong-buy" rating in a report on Friday, August 9th. Citigroup reduced their price target on Intellia Therapeutics from $25.00 to $19.00 and set a "neutral" rating for the company in a report on Friday, October 25th. Finally, JPMorgan Chase & Co. reduced their price target on Intellia Therapeutics from $61.00 to $55.00 and set an "overweight" rating for the company in a report on Monday, August 12th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $57.33.

Intellia Therapeutics Price Performance

NTLA stock traded up $0.77 during trading on Monday, reaching $17.50. 2,565,427 shares of the stock traded hands, compared to its average volume of 1,664,452. Intellia Therapeutics has a 52-week low of $13.95 and a 52-week high of $34.87. The business's 50 day moving average price is $19.17 and its 200-day moving average price is $22.23. The firm has a market capitalization of $1.78 billion, a PE ratio of -3.22 and a beta of 1.81.

Intellia Therapeutics (NASDAQ:NTLA - Get Free Report) last issued its earnings results on Thursday, November 7th. The company reported ($1.34) earnings per share for the quarter, topping the consensus estimate of ($1.37) by $0.03. The company had revenue of $9.10 million during the quarter, compared to analysts' expectations of $8.28 million. During the same period in the previous year, the company earned ($1.38) EPS. Intellia Therapeutics's quarterly revenue was down 24.1% on a year-over-year basis. On average, equities research analysts predict that Intellia Therapeutics will post -5.21 earnings per share for the current year.

Insider Buying and Selling at Intellia Therapeutics

In other news, CAO Michael P. Dube sold 2,012 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $19.01, for a total transaction of $38,248.12. Following the sale, the chief accounting officer now directly owns 47,012 shares in the company, valued at approximately $893,698.12. This represents a 0.00 % 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. 3.20% of the stock is currently owned by insiders.

Institutional Trading of Intellia Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in NTLA. Vanguard Group Inc. raised its position in shares of Intellia Therapeutics by 8.9% during the 1st quarter. Vanguard Group Inc. now owns 9,093,712 shares of the company's stock worth $250,168,000 after purchasing an additional 746,263 shares during the period. ARK Investment Management LLC raised its position in shares of Intellia Therapeutics by 5.7% during the 3rd quarter. ARK Investment Management LLC now owns 12,255,440 shares of the company's stock worth $251,849,000 after purchasing an additional 659,651 shares during the period. Federated Hermes Inc. raised its position in shares of Intellia Therapeutics by 19.2% during the 2nd quarter. Federated Hermes Inc. now owns 2,300,889 shares of the company's stock worth $51,494,000 after purchasing an additional 371,189 shares during the period. Opaleye Management Inc. increased its position in Intellia Therapeutics by 157.6% in the 1st quarter. Opaleye Management Inc. now owns 255,000 shares of the company's stock valued at $7,015,000 after acquiring an additional 156,000 shares during the period. Finally, Dimensional Fund Advisors LP increased its position 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. 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.