Wedbush Cuts Intellia Therapeutics (NASDAQ:NTLA) Price Target to $7.00

Intellia Therapeutics (NASDAQ:NTLA) had its target price decreased by Wedbush from $9.00 to $7.00 in a research report sent to investors on Friday,Benzinga reports. Wedbush currently has a neutral rating on the stock.

A number of other research analysts also recently issued reports on the company. William Blair downgraded Intellia Therapeutics from an “outperform” rating to a “market perform” rating in a report on Monday, October 27th. Bank of America dropped their price objective on shares of Intellia Therapeutics from $36.00 to $30.00 and set a “buy” rating on the stock in a research note on Monday, October 27th. JMP Securities decreased their target price on shares of Intellia Therapeutics from $33.00 to $29.00 and set a “market outperform” rating for the company in a research note on Tuesday, October 28th. Citigroup reissued a “market outperform” rating on shares of Intellia Therapeutics in a report on Tuesday, October 28th. Finally, Wall Street Zen raised shares of Intellia Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, September 6th. Twelve analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $20.39.

Intellia Therapeutics Stock Performance

NASDAQ:NTLA opened at $9.52 on Friday. The firm’s fifty day moving average is $17.19 and its two-hundred day moving average is $12.53. The firm has a market cap of $1.02 billion, a price-to-earnings ratio of -2.23 and a beta of 2.45. Intellia Therapeutics has a one year low of $5.90 and a one year high of $28.25.

Intellia Therapeutics (NASDAQ:NTLA) last issued its quarterly earnings data on Thursday, November 6th. The company reported ($0.92) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.02) by $0.10. Intellia Therapeutics had a negative return on equity of 57.01% and a negative net margin of 774.94%.The business had revenue of $13.78 million during the quarter, compared to analysts’ expectations of $14.12 million. During the same quarter in the previous year, the firm posted ($1.34) EPS. The company’s revenue for the quarter was up 51.6% on a year-over-year basis. As a group, equities research analysts predict that Intellia Therapeutics will post -5.07 earnings per share for the current fiscal year.

Insider Buying and Selling at Intellia Therapeutics

In related news, Director William J. Chase acquired 100,000 shares of Intellia Therapeutics stock in a transaction on Wednesday, August 20th. The stock was bought at an average cost of $10.03 per share, for a total transaction of $1,003,000.00. Following the completion of the transaction, the director owned 134,693 shares of the company’s stock, valued at approximately $1,350,970.79. The trade was a 288.24% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Michael P. Dube sold 1,871 shares of the stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $17.38, for a total transaction of $32,517.98. Following the transaction, the chief accounting officer directly owned 55,266 shares in the company, valued at approximately $960,523.08. The trade was a 3.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 3.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Intellia Therapeutics

Hedge funds have recently made changes to their positions in the company. ARK Investment Management LLC lifted its position in shares of Intellia Therapeutics by 3.8% in the first quarter. ARK Investment Management LLC now owns 13,011,015 shares of the company’s stock valued at $92,508,000 after acquiring an additional 474,629 shares in the last quarter. Vanguard Group Inc. raised its stake in Intellia Therapeutics by 1.8% in the 3rd quarter. Vanguard Group Inc. now owns 11,044,820 shares of the company’s stock valued at $190,744,000 after purchasing an additional 192,651 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Intellia Therapeutics by 5.1% in the 2nd quarter. Geode Capital Management LLC now owns 2,606,222 shares of the company’s stock valued at $24,449,000 after purchasing an additional 126,049 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Intellia Therapeutics by 73.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 940,483 shares of the company’s stock worth $8,822,000 after purchasing an additional 396,858 shares during the last quarter. Finally, Armistice Capital LLC grew its holdings in shares of Intellia Therapeutics by 78.6% during the second quarter. Armistice Capital LLC now owns 650,000 shares of the company’s stock worth $6,097,000 after buying an additional 286,000 shares in the last quarter. Institutional investors and hedge funds own 88.77% of the company’s stock.

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.