Chardan Capital Issues Pessimistic Forecast for Intellia Therapeutics (NASDAQ:NTLA) Stock Price

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 - Get Free Report) had its price target dropped by investment analysts at Chardan Capital from $68.00 to $60.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has a "buy" rating on the stock. Chardan Capital's price target indicates a potential upside of 456.07% from the company's current price.

Other equities analysts also recently issued reports about the company. Citigroup dropped their target price on Intellia Therapeutics from $14.00 to $10.00 and set a "neutral" rating for the company in a research report on Friday, May 9th. Guggenheim dropped their target price on Intellia Therapeutics from $55.00 to $45.00 and set a "buy" rating for the company in a research report on Monday, May 12th. Wedbush reiterated a "neutral" rating and issued a $7.00 target price on shares of Intellia Therapeutics in a research report on Monday, June 16th. Canaccord Genuity Group dropped their target price on 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, Royal Bank Of Canada dropped their target price on Intellia Therapeutics from $25.00 to $21.00 and set an "outperform" rating for the company in a research report on Friday. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $30.68.

Intellia Therapeutics Stock Performance

Intellia Therapeutics stock opened at $10.79 on Monday. Intellia Therapeutics has a 52 week low of $5.90 and a 52 week high of $24.16. The stock has a market capitalization of $1.12 billion, a P/E ratio of -2.30 and a beta of 2.31. The stock has a fifty day moving average of $10.55 and a 200-day moving average of $9.49.

Intellia Therapeutics (NASDAQ:NTLA - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported ($0.99) EPS for the quarter, beating the consensus estimate of ($1.03) by $0.04. The firm had revenue of $14.25 million during the quarter, compared to the consensus estimate of $12.26 million. Intellia Therapeutics had a negative return on equity of 54.90% and a negative net margin of 908.48%. The business's quarterly revenue was up 104.3% on a year-over-year basis. During the same period last year, the company earned ($1.52) earnings per share. On average, research analysts forecast that Intellia Therapeutics will post -5.07 earnings per share for the current year.

Insider Buying and Selling at Intellia Therapeutics

In other news, EVP Edward J. Dulac III sold 7,462 shares of the stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $14.02, for a total value of $104,617.24. Following the completion of the sale, the executive vice president owned 106,062 shares of the company's stock, valued at approximately $1,486,989.24. This represents a 6.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders sold a total of 12,534 shares of company stock valued at $153,837 over the last ninety days. Corporate insiders own 3.10% of the company's stock.

Institutional Investors Weigh In On Intellia Therapeutics

Several large investors have recently added to or reduced their stakes in the business. Cetera Investment Advisers grew its stake in Intellia Therapeutics by 47.4% during the second quarter. Cetera Investment Advisers now owns 33,532 shares of the company's stock worth $315,000 after purchasing an additional 10,785 shares during the period. Creative Planning grew its stake in Intellia Therapeutics by 12.9% during the second quarter. Creative Planning now owns 33,102 shares of the company's stock worth $310,000 after purchasing an additional 3,795 shares during the period. Police & Firemen s Retirement System of New Jersey grew its stake in Intellia Therapeutics by 16.3% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 24,015 shares of the company's stock worth $225,000 after purchasing an additional 3,365 shares during the period. Geode Capital Management LLC grew its stake in Intellia Therapeutics by 5.1% during the second quarter. Geode Capital Management LLC now owns 2,606,222 shares of the company's stock worth $24,449,000 after purchasing an additional 126,049 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Intellia Therapeutics by 26.3% during the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 27,092 shares of the company's stock worth $254,000 after purchasing an additional 5,634 shares during the period. Institutional investors and hedge funds own 88.77% of the company's stock.

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.

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