Analysts Set Intellia Therapeutics, Inc. (NASDAQ:NTLA) Target Price at $37.56

Shares of Intellia Therapeutics, Inc. (NASDAQ:NTLA) have earned an average recommendation of “Moderate Buy” from the nineteen research firms that are currently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating, six have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among analysts that have covered the stock in the last year is $37.56.

A number of equities research analysts have commented on NTLA shares. Wells Fargo & Company reduced their target price on Intellia Therapeutics from $60.00 to $50.00 and set an “overweight” rating on the stock in a research report on Friday, February 28th. BMO Capital Markets decreased their price objective on shares of Intellia Therapeutics from $70.00 to $50.00 and set an “outperform” rating on the stock in a report on Friday, January 10th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $13.00 target price (down previously from $45.00) on shares of Intellia Therapeutics in a report on Friday, February 28th. Wedbush restated a “neutral” rating and set a $10.00 price target (down from $14.00) on shares of Intellia Therapeutics in a research note on Friday, January 10th. Finally, Morgan Stanley lowered Intellia Therapeutics from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $56.00 to $11.00 in a research report on Monday, January 27th.

Insider Buying and Selling

In related news, CEO John M. Leonard sold 26,807 shares of the company’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $12.18, for a total value of $326,509.26. Following the completion of the sale, the chief executive officer now directly owns 941,115 shares of the company’s stock, valued at $11,462,780.70. This represents a 2.77 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last quarter, insiders sold 29,000 shares of company stock worth $352,551. Corporate insiders own 3.20% of the company’s stock.

Institutional Investors Weigh In On Intellia Therapeutics

Several large investors have recently modified their holdings of NTLA. Wellington Management Group LLP increased its stake in Intellia Therapeutics by 8.5% in the 4th quarter. Wellington Management Group LLP now owns 699,814 shares of the company’s stock valued at $8,160,000 after buying an additional 55,051 shares during the period. California State Teachers Retirement System increased its stake in Intellia Therapeutics by 4.1% in the 4th quarter. California State Teachers Retirement System now owns 90,638 shares of the company’s stock valued at $1,057,000 after purchasing an additional 3,596 shares in the last quarter. Polar Asset Management Partners Inc. raised its stake in shares of Intellia Therapeutics by 1,144.1% during the 4th quarter. Polar Asset Management Partners Inc. now owns 282,400 shares of the company’s stock worth $3,293,000 after buying an additional 259,700 shares during the last quarter. GF Fund Management CO. LTD. purchased a new position in shares of Intellia Therapeutics during the 4th quarter worth approximately $25,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Intellia Therapeutics by 5.0% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 483,185 shares of the company’s stock worth $5,634,000 after acquiring an additional 23,173 shares during the last quarter. 88.77% of the stock is owned by institutional investors and hedge funds.

Intellia Therapeutics Trading Down 6.2 %

Shares of NTLA opened at $8.73 on Friday. The firm has a market capitalization of $903.70 million, a P/E ratio of -1.60 and a beta of 1.97. The firm has a 50-day moving average price of $10.05 and a 200 day moving average price of $13.97. Intellia Therapeutics has a 12-month low of $8.30 and a 12-month high of $28.23.

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.