Intellia Therapeutics (NASDAQ:NTLA) PT Lowered to $64.00

Intellia Therapeutics (NASDAQ:NTLA) had its price target reduced by research analysts at Stifel Nicolaus from $80.00 to $64.00 in a report issued on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Stifel Nicolaus’ price target points to a potential upside of 209.63% from the company’s previous close.

Other research analysts also recently issued research reports about the stock. Truist Financial reissued a “buy” rating and issued a $120.00 price objective on shares of Intellia Therapeutics in a research report on Monday, June 24th. Evercore ISI upgraded Intellia Therapeutics to a “strong-buy” rating in a research note on Friday, August 9th. StockNews.com upgraded Intellia Therapeutics to a “sell” rating in a research note on Thursday, June 27th. Royal Bank of Canada dropped their price target on Intellia Therapeutics from $60.00 to $54.00 and set an “outperform” rating on the stock in a research note on Friday, August 9th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $65.00 price target on shares of Intellia Therapeutics in a report on Monday, June 24th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $61.77.

Intellia Therapeutics Stock Performance

NTLA opened at $20.67 on Wednesday. The business’s 50-day simple moving average is $23.43 and its 200 day simple moving average is $24.55. Intellia Therapeutics has a 52-week low of $19.21 and a 52-week high of $37.15. The firm has a market capitalization of $1.99 billion, a PE ratio of -3.86 and a beta of 1.77.

Intellia Therapeutics (NASDAQ:NTLA) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($1.52) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.23) by ($0.29). The firm had revenue of $7.00 million during the quarter, compared to the consensus estimate of $19.68 million. During the same quarter in the prior year, the company posted ($1.40) EPS. The firm’s quarterly revenue was down 48.5% on a year-over-year basis. On average, research analysts forecast that Intellia Therapeutics will post -5.19 earnings per share for the current year.

Hedge Funds Weigh In On Intellia Therapeutics

Hedge funds have recently added to or reduced their stakes in the stock. International Assets Investment Management LLC bought a new position in shares of Intellia Therapeutics in the fourth quarter worth $715,000. Charles Schwab Investment Management Inc. increased its holdings in Intellia Therapeutics by 2.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 700,228 shares of the company’s stock valued at $21,350,000 after buying an additional 18,987 shares during the period. BNP Paribas Financial Markets raised its position in shares of Intellia Therapeutics by 0.9% in the 4th quarter. BNP Paribas Financial Markets now owns 210,161 shares of the company’s stock valued at $6,408,000 after buying an additional 1,930 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Intellia Therapeutics by 5.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,170,829 shares of the company’s stock worth $35,704,000 after acquiring an additional 60,748 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Intellia Therapeutics by 23.3% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 8,204 shares of the company’s stock worth $242,000 after acquiring an additional 1,553 shares in the last quarter. Institutional investors 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.