Intellia Therapeutics (NASDAQ:NTLA) Price Target Raised to $70.00

Intellia Therapeutics (NASDAQ:NTLA - Free Report) had its target price lifted by BMO Capital Markets from $62.00 to $70.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has an outperform rating on the stock.

Several other research analysts also recently weighed in on NTLA. Canaccord Genuity Group upped their target price on Intellia Therapeutics from $72.00 to $73.00 and gave the stock a buy rating in a research note on Friday, February 23rd. The Goldman Sachs Group downgraded Intellia Therapeutics from a buy rating to a neutral rating and reduced their target price for the stock from $136.00 to $32.00 in a research note on Friday, February 23rd. Wolfe Research assumed coverage on Intellia Therapeutics in a research report on Thursday, February 15th. They set a peer perform rating for the company. Finally, Wedbush reiterated a neutral rating and set a $29.00 price target on shares of Intellia Therapeutics in a research report on Tuesday, April 23rd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus price target of $66.77.

Intellia Therapeutics Stock Performance

NASDAQ NTLA traded down $0.40 during trading hours on Friday, reaching $24.46. The stock had a trading volume of 2,042,384 shares, compared to its average volume of 1,256,391. Intellia Therapeutics has a 52-week low of $19.37 and a 52-week high of $47.48. The stock has a market cap of $2.36 billion, a P/E ratio of -4.52 and a beta of 1.85. The stock has a fifty day moving average of $25.33 and a 200 day moving average of $27.19.

Intellia Therapeutics (NASDAQ:NTLA - Get Free Report) last announced its quarterly earnings results on Thursday, February 22nd. The company reported ($1.46) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($1.47) by $0.01. The company had revenue of ($1.92) million during the quarter, compared to the consensus estimate of $15.10 million. Intellia Therapeutics had a negative return on equity of 43.91% and a negative net margin of 893.34%. During the same period in the previous year, the company posted ($1.40) earnings per share. On average, equities research analysts forecast that Intellia Therapeutics will post -5.57 EPS for the current year.

Insider Buying and Selling at Intellia Therapeutics

In other news, EVP James Basta sold 2,297 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $32.99, for a total transaction of $75,778.03. Following the completion of the transaction, the executive vice president now directly owns 81,571 shares in the company, valued at approximately $2,691,027.29. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 3.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Blue Trust Inc. purchased a new position in Intellia Therapeutics during the 4th quarter worth approximately $26,000. Signaturefd LLC lifted its holdings in shares of Intellia Therapeutics by 89.3% in the 4th quarter. Signaturefd LLC now owns 1,592 shares of the company's stock valued at $49,000 after buying an additional 751 shares during the period. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Intellia Therapeutics by 95.9% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 2,263 shares of the company's stock valued at $72,000 after buying an additional 1,108 shares during the period. Daiwa Securities Group Inc. lifted its holdings in shares of Intellia Therapeutics by 35.0% in the 4th quarter. Daiwa Securities Group Inc. now owns 3,056 shares of the company's stock valued at $93,000 after buying an additional 793 shares during the period. Finally, Spire Wealth Management lifted its holdings in shares of Intellia Therapeutics by 3,789.0% in the 4th quarter. Spire Wealth Management now owns 3,889 shares of the company's stock valued at $119,000 after buying an additional 3,789 shares during the period. Hedge funds and other institutional investors 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.