Intellia Therapeutics (NASDAQ:NTLA) Given New $60.00 Price Target at Chardan Capital

Key Points

• Chardan Capital has decreased its price target for Intellia Therapeutics (NASDAQ:NTLA) from $68.00 to $60.00, while maintaining a "buy" rating, indicating a potential upside of 456.07% from the current price.
• Other analysts such as Citigroup and Guggenheim have similarly lowered their target prices, with Citigroup setting a target of $10.00 and Guggenheim adjusting their target to $45.00.
• Intellia Therapeutics reported a revenue increase of 104.3% year-over-year for the latest quarter, although it posted a net loss, exceeding consensus estimates for both EPS and revenue.

Intellia Therapeutics (NASDAQ:NTLA - Free Report) had its price objective decreased by Chardan Capital from $68.00 to $60.00 in a research note published on Monday,Benzinga reports. Chardan Capital currently has a buy rating on the stock. Chardan Capital also issued estimates for Intellia Therapeutics' FY2025 earnings at ($4.01) EPS.

A number of other analysts also recently weighed in on the stock. HC Wainwright decreased their target price on shares of Intellia Therapeutics from $30.00 to $25.00 and set a "buy" rating for the company in a research report on Friday, August 8th. Wolfe Research raised shares of Intellia Therapeutics from a "peer perform" rating to an "outperform" rating and set a $21.00 price objective for the company in a research report on Monday, April 21st. Citigroup reduced their price objective on shares of Intellia Therapeutics from $14.00 to $10.00 and set a "neutral" rating for the company in a research report on Friday, May 9th. Canaccord Genuity Group reduced their price target on shares of Intellia Therapeutics from $74.00 to $54.00 and set a "buy" rating for the company in a research report on Tuesday, June 3rd. Finally, Wedbush reissued a "neutral" rating and issued a $7.00 price target on shares of Intellia Therapeutics in a research report on Monday, June 16th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $29.05.

Intellia Therapeutics Price Performance

NASDAQ NTLA traded up $0.11 during trading hours on Monday, reaching $11.01. The company's stock had a trading volume of 3,246,722 shares, compared to its average volume of 4,101,489. The firm has a fifty day simple moving average of $10.82 and a 200-day simple moving average of $9.51. The stock has a market cap of $1.18 billion, a P/E ratio of -2.36 and a beta of 2.31. Intellia Therapeutics has a 52 week low of $5.90 and a 52 week high of $24.16.

Intellia Therapeutics (NASDAQ:NTLA - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported ($0.99) earnings per share for the quarter, beating analysts' consensus estimates of ($1.03) by $0.04. The business had revenue of $14.25 million during the quarter, compared to the consensus estimate of $12.26 million. Intellia Therapeutics had a negative net margin of 908.48% and a negative return on equity of 57.48%. The company's revenue for the quarter was up 104.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($1.52) EPS. On average, research analysts expect that Intellia Therapeutics will post -5.07 earnings per share for the current year.

Insider Activity at Intellia Therapeutics

In other news, EVP Edward J. Dulac III sold 7,462 shares of Intellia Therapeutics stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $14.02, for a total transaction of $104,617.24. Following the sale, the executive vice president directly owned 106,062 shares in the company, valued at $1,486,989.24. The trade was a 6.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last quarter, insiders sold 12,534 shares of company stock worth $153,837. Insiders own 3.10% of the company's stock.

Institutional Investors Weigh In On Intellia Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. GF Fund Management CO. LTD. purchased a new position in Intellia Therapeutics during the 4th quarter valued at about $25,000. Sterling Capital Management LLC grew its holdings in Intellia Therapeutics by 866.2% during the 4th quarter. Sterling Capital Management LLC now owns 3,198 shares of the company's stock valued at $37,000 after buying an additional 2,867 shares in the last quarter. Whipplewood Advisors LLC grew its holdings in Intellia Therapeutics by 114,900.0% during the 2nd quarter. Whipplewood Advisors LLC now owns 3,450 shares of the company's stock valued at $32,000 after buying an additional 3,447 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in Intellia Therapeutics by 56.4% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 4,590 shares of the company's stock valued at $33,000 after buying an additional 1,655 shares in the last quarter. Finally, Harbour Investments Inc. grew its holdings in Intellia Therapeutics by 76.7% during the 1st quarter. Harbour Investments Inc. now owns 5,214 shares of the company's stock valued at $37,000 after buying an additional 2,264 shares in the last quarter. 88.77% of the stock is currently owned by institutional investors.

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.