Intellia Therapeutics (NASDAQ:NTLA) Price Target Lowered to $29.00 at Citigroup

Intellia Therapeutics (NASDAQ:NTLA - Get Free Report) had its price objective reduced by equities research analysts at Citigroup from $31.00 to $29.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has a "neutral" rating on the stock. Citigroup's price target would indicate a potential upside of 18.56% from the stock's current price.

A number of other brokerages have also recently commented on NTLA. Canaccord Genuity Group increased their target price on shares of Intellia Therapeutics from $72.00 to $73.00 and gave the company a "buy" rating in a research report on Friday, February 23rd. Wolfe Research began coverage on shares of Intellia Therapeutics in a research report on Thursday, February 15th. They issued a "peer perform" rating for the company. BMO Capital Markets increased their target price on shares of Intellia Therapeutics from $62.00 to $70.00 and gave the company an "outperform" rating in a research report on Friday. Wedbush reiterated a "neutral" rating and issued a $29.00 target price on shares of Intellia Therapeutics in a research report on Tuesday, April 23rd. Finally, The Goldman Sachs Group cut shares of Intellia Therapeutics from a "buy" rating to a "neutral" rating and reduced their target price for the company from $136.00 to $32.00 in a research report on Friday, February 23rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat, Intellia Therapeutics currently has a consensus rating of "Moderate Buy" and a consensus price target of $66.77.

Intellia Therapeutics Stock Performance

NASDAQ NTLA traded down $0.40 during mid-day trading on Friday, reaching $24.46. 2,042,384 shares of the stock were exchanged, compared to its average volume of 1,483,147. The business's 50 day moving average is $25.50 and its 200-day moving average is $27.20. Intellia Therapeutics has a 1 year low of $19.37 and a 1 year high of $47.48. The company has a market capitalization of $2.36 billion, a P/E ratio of -4.52 and a beta of 1.85.

Intellia Therapeutics (NASDAQ:NTLA - Get Free Report) last posted its quarterly earnings data on Thursday, February 22nd. The company reported ($1.46) earnings per share for the quarter, topping analysts' consensus estimates of ($1.47) by $0.01. The company had revenue of ($1.92) million during the quarter, compared to analysts' expectations of $15.10 million. Intellia Therapeutics had a negative net margin of 893.34% and a negative return on equity of 43.91%. During the same period in the prior year, the business posted ($1.40) earnings per share. Equities analysts predict that Intellia Therapeutics will post -5.57 earnings per share for the current fiscal year.

Insider Activity at Intellia Therapeutics

In related news, EVP James Basta sold 2,297 shares of the business's stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $32.99, for a total value of $75,778.03. Following the sale, 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 legal filing with the Securities & Exchange Commission, which is available through this link. 3.00% of the stock is currently owned by insiders.

Institutional Trading of Intellia Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the business. ARK Investment Management LLC boosted its holdings in Intellia Therapeutics by 14.7% in the 4th quarter. ARK Investment Management LLC now owns 11,412,449 shares of the company's stock worth $347,966,000 after acquiring an additional 1,463,820 shares during the period. Vanguard Group Inc. increased its holdings in shares of Intellia Therapeutics by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 8,347,449 shares of the company's stock valued at $254,514,000 after purchasing an additional 155,579 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of Intellia Therapeutics by 3.7% during the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,520,295 shares of the company's stock valued at $111,312,000 after purchasing an additional 125,639 shares during the period. Wellington Management Group LLP increased its holdings in shares of Intellia Therapeutics by 1.4% during the third quarter. Wellington Management Group LLP now owns 2,651,994 shares of the company's stock valued at $83,856,000 after purchasing an additional 36,630 shares during the period. Finally, Federated Hermes Inc. increased its holdings in shares of Intellia Therapeutics by 13.8% during the fourth quarter. Federated Hermes Inc. now owns 2,016,300 shares of the company's stock valued at $61,477,000 after purchasing an additional 244,722 shares during the period. Institutional investors and hedge funds own 88.77% of the company's stock.

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.

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