Wells Fargo & Company Lowers Intellia Therapeutics (NASDAQ:NTLA) Price Target to $70.00

Intellia Therapeutics (NASDAQ:NTLA - Free Report) had its price target reduced by Wells Fargo & Company from $80.00 to $70.00 in a research report released on Monday,Benzinga reports. They currently have an overweight rating on the stock.

NTLA has been the subject of a number of other research reports. Chardan Capital raised their price target on shares of Intellia Therapeutics from $88.00 to $91.00 and gave the stock a "buy" rating in a report on Monday. StockNews.com raised shares of Intellia Therapeutics to a "sell" rating in a report on Friday, November 8th. William Blair reiterated a "neutral" rating and issued a $14.00 target price on shares of Intellia Therapeutics in a research report on Monday. Stifel Nicolaus cut their price target on Intellia Therapeutics from $80.00 to $64.00 and set a "buy" rating for the company in a report on Wednesday, September 11th. Finally, Robert W. Baird lowered their price objective on shares of Intellia Therapeutics from $24.00 to $18.00 and set a "neutral" rating for the company in a research note on Friday, October 25th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $53.88.

Intellia Therapeutics Price Performance

Shares of NTLA traded up $0.20 during mid-day trading on Monday, reaching $14.17. 5,612,627 shares of the company's stock traded hands, compared to its average volume of 1,699,631. The stock's 50-day moving average is $18.64 and its two-hundred day moving average is $22.04. Intellia Therapeutics has a 12 month low of $13.54 and a 12 month high of $34.87. The stock has a market cap of $1.44 billion, a P/E ratio of -2.58 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, beating analysts' consensus estimates of ($1.37) by $0.03. The firm had revenue of $9.10 million for the quarter, compared to the consensus estimate of $8.28 million. The company's revenue for the quarter was down 24.1% on a year-over-year basis. During the same period last year, the firm earned ($1.38) earnings per share. Research analysts predict that Intellia Therapeutics will post -5.13 earnings per share for the current year.

Insider Activity

In other news, CAO Michael P. Dube sold 2,012 shares of the stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $19.01, for a total value of $38,248.12. Following the transaction, the chief accounting officer now directly owns 47,012 shares of the company's stock, valued at $893,698.12. This represents a 4.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 3.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Intellia Therapeutics

A number of large investors have recently added to or reduced their stakes in NTLA. SG Americas Securities LLC bought a new position in Intellia Therapeutics in the 1st quarter valued at approximately $160,000. Swiss National Bank raised its stake in shares of Intellia Therapeutics by 1.3% in the first quarter. Swiss National Bank now owns 167,900 shares of the company's stock worth $4,619,000 after purchasing an additional 2,200 shares during the last quarter. ProShare Advisors LLC boosted its holdings in Intellia Therapeutics by 11.9% during the 1st quarter. ProShare Advisors LLC now owns 23,235 shares of the company's stock worth $639,000 after acquiring an additional 2,466 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Intellia Therapeutics by 8.9% during the first 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 last quarter. Finally, EntryPoint Capital LLC grew its holdings in shares of Intellia Therapeutics by 61.1% in the first quarter. EntryPoint Capital LLC now owns 4,122 shares of the company's stock valued at $113,000 after acquiring an additional 1,563 shares in the last quarter. Institutional investors and hedge funds 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.