Brokerages Set Intellia Therapeutics, Inc. (NASDAQ:NTLA) Price Target at $54.94

Intellia Therapeutics, Inc. (NASDAQ:NTLA) has received a consensus rating of “Moderate Buy” from the eighteen brokerages that are currently covering the firm, MarketBeat Ratings reports. Six investment analysts have rated the stock with a hold recommendation, eleven have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $54.94.

A number of equities research analysts have commented on NTLA shares. StockNews.com raised Intellia Therapeutics to a “sell” rating in a research note on Friday, November 8th. Canaccord Genuity Group restated a “buy” rating and set a $90.00 price objective on shares of Intellia Therapeutics in a report on Tuesday, November 19th. Royal Bank of Canada reiterated an “outperform” rating and set a $54.00 price objective on shares of Intellia Therapeutics in a report on Thursday, September 19th. Barclays lowered their target price on shares of Intellia Therapeutics from $76.00 to $55.00 and set an “overweight” rating on the stock in a report on Friday, November 8th. Finally, William Blair reiterated a “neutral” rating and set a $14.00 price target on shares of Intellia Therapeutics in a research note on Monday, November 18th.

Insider Transactions at Intellia Therapeutics

In other Intellia Therapeutics news, CAO Michael P. Dube sold 2,012 shares of Intellia Therapeutics stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $19.01, for a total transaction of $38,248.12. Following the completion of the transaction, the chief accounting officer now owns 47,012 shares of the company’s stock, valued at $893,698.12. The trade was a 4.10 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 3.20% of the company’s stock.

Hedge Funds Weigh In On Intellia Therapeutics

Several hedge funds have recently bought and sold shares of the company. State Street Corp grew its position in shares of Intellia Therapeutics by 17.9% during the 3rd quarter. State Street Corp now owns 5,143,534 shares of the company’s stock valued at $105,700,000 after purchasing an additional 780,754 shares in the last quarter. ARK Investment Management LLC grew its position in Intellia Therapeutics by 5.7% during the third quarter. ARK Investment Management LLC now owns 12,255,440 shares of the company’s stock worth $251,849,000 after buying an additional 659,651 shares in the last quarter. Federated Hermes Inc. raised its holdings in shares of Intellia Therapeutics by 19.2% in the 2nd quarter. Federated Hermes Inc. now owns 2,300,889 shares of the company’s stock valued at $51,494,000 after acquiring an additional 371,189 shares in the last quarter. Two Sigma Advisers LP boosted its position in shares of Intellia Therapeutics by 33.5% during the 3rd quarter. Two Sigma Advisers LP now owns 1,027,617 shares of the company’s stock valued at $21,118,000 after acquiring an additional 257,700 shares during the last quarter. Finally, Sphera Funds Management LTD. boosted its position in shares of Intellia Therapeutics by 108.8% during the 3rd quarter. Sphera Funds Management LTD. now owns 291,080 shares of the company’s stock valued at $5,982,000 after acquiring an additional 151,661 shares during the last quarter. Hedge funds and other institutional investors own 88.77% of the company’s stock.

Intellia Therapeutics Price Performance

NASDAQ NTLA opened at $12.90 on Wednesday. Intellia Therapeutics has a one year low of $12.47 and a one year high of $34.87. The business has a 50 day simple moving average of $16.23 and a 200 day simple moving average of $20.70. The stock has a market capitalization of $1.31 billion, a P/E ratio of -2.37 and a beta of 1.76.

Intellia Therapeutics (NASDAQ:NTLA) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($1.34) EPS for the quarter, topping 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 company’s revenue for the quarter was down 24.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($1.38) earnings per share. Equities analysts expect that Intellia Therapeutics will post -5.12 earnings per share for the current year.

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.