Wells Fargo & Company Issues Pessimistic Forecast for Intellia Therapeutics (NASDAQ:NTLA) Stock Price

Intellia Therapeutics (NASDAQ:NTLA) had its target price decreased by stock analysts at Wells Fargo & Company from $70.00 to $60.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target points to a potential upside of 488.24% from the stock’s current price.

Other research analysts also recently issued research reports about the company. Robert W. Baird dropped their price target on Intellia Therapeutics from $24.00 to $18.00 and set a “neutral” rating for the company in a research note on Friday, October 25th. Canaccord Genuity Group reissued a “buy” rating and issued a $90.00 target price on shares of Intellia Therapeutics in a report on Tuesday, November 19th. Oppenheimer dropped their target price on shares of Intellia Therapeutics from $70.00 to $60.00 and set an “outperform” rating for the company in a report on Monday, November 11th. Barclays dropped their target price on shares of Intellia Therapeutics from $76.00 to $55.00 and set an “overweight” rating for the company in a report on Friday, November 8th. Finally, The Goldman Sachs Group dropped their target price on shares of Intellia Therapeutics from $31.00 to $20.00 and set a “neutral” rating for the company in a report on Friday, October 25th. One research analyst has rated the stock with a sell rating, six have given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $52.81.

Intellia Therapeutics Stock Down 15.1 %

NTLA stock opened at $10.20 on Friday. The company has a market cap of $1.04 billion, a PE ratio of -1.87 and a beta of 1.83. The business has a 50-day simple moving average of $13.77 and a 200 day simple moving average of $18.96. Intellia Therapeutics has a 52 week low of $9.93 and a 52 week high of $34.87.

Intellia Therapeutics (NASDAQ:NTLA) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($1.34) EPS for the quarter, beating analysts’ consensus estimates of ($1.37) by $0.03. The company had revenue of $9.10 million during the quarter, compared to analyst estimates of $8.28 million. The firm’s revenue for the quarter was down 24.1% compared to the same quarter last year. During the same period last year, the firm earned ($1.38) EPS. On average, analysts anticipate that Intellia Therapeutics will post -5.12 EPS for the current fiscal year.

Insider Buying and Selling at Intellia Therapeutics

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 90 days, insiders sold 28,735 shares of company stock valued at $349,909. 3.20% of the stock is currently owned by company insiders.

Institutional Trading of Intellia Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC grew its position in shares of Intellia Therapeutics by 763.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,753 shares of the company’s stock worth $39,000 after buying an additional 1,550 shares during the period. Eastern Bank acquired a new stake in shares of Intellia Therapeutics during the 3rd quarter worth approximately $41,000. Values First Advisors Inc. acquired a new stake in shares of Intellia Therapeutics during the 3rd quarter worth approximately $54,000. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Intellia Therapeutics by 27.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,674 shares of the company’s stock worth $77,000 after buying an additional 794 shares during the period. Finally, KBC Group NV grew its position in shares of Intellia Therapeutics by 37.3% during the 3rd quarter. KBC Group NV now owns 3,753 shares of the company’s stock worth $77,000 after buying an additional 1,020 shares during the period. 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.