JPMorgan Chase & Co. Trims Intellia Therapeutics (NASDAQ:NTLA) Target Price to $55.00

Intellia Therapeutics (NASDAQ:NTLA) had its target price decreased by JPMorgan Chase & Co. from $61.00 to $55.00 in a research note released on Monday morning, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

Other equities research analysts have also recently issued reports about the stock. Wedbush reiterated a neutral rating and set a $29.00 price objective on shares of Intellia Therapeutics in a research report on Tuesday, April 23rd. Canaccord Genuity Group reiterated a buy rating and set a $73.00 price objective on shares of Intellia Therapeutics in a research report on Thursday, June 27th. Citigroup decreased their price objective on shares of Intellia Therapeutics from $31.00 to $29.00 and set a neutral rating for the company in a research report on Friday, May 10th. Truist Financial reiterated a buy rating and set a $120.00 price objective on shares of Intellia Therapeutics in a research report on Monday, June 24th. Finally, BMO Capital Markets raised their price target on shares of Intellia Therapeutics from $62.00 to $70.00 and gave the stock an outperform rating in a report on Friday, May 10th. One analyst has rated the stock with a sell rating, four have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Intellia Therapeutics currently has an average rating of Moderate Buy and a consensus target price of $61.58.

Intellia Therapeutics Stock Performance

NTLA stock opened at $21.51 on Monday. The company has a fifty day moving average price of $24.17 and a 200-day moving average price of $25.21. The company has a market capitalization of $2.08 billion, a P/E ratio of -4.01 and a beta of 1.81. Intellia Therapeutics has a 52-week low of $19.37 and a 52-week high of $39.07.

Intellia Therapeutics (NASDAQ:NTLA) last released its quarterly earnings results on Thursday, August 8th. The company reported ($1.52) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.23) by ($0.29). The firm had revenue of $7.00 million for the quarter, compared to analysts’ expectations of $19.68 million. During the same period in the prior year, the firm earned ($1.40) earnings per share. The business’s revenue was down 48.5% on a year-over-year basis. As a group, sell-side analysts forecast that Intellia Therapeutics will post -4.98 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. EverSource Wealth Advisors LLC lifted its stake in shares of Intellia Therapeutics by 763.5% in the second quarter. EverSource Wealth Advisors LLC now owns 1,753 shares of the company’s stock valued at $39,000 after buying an additional 1,550 shares in the last quarter. Ensign Peak Advisors Inc lifted its stake in shares of Intellia Therapeutics by 23.5% in the second quarter. Ensign Peak Advisors Inc now owns 36,019 shares of the company’s stock valued at $806,000 after buying an additional 6,850 shares in the last quarter. Thrivent Financial for Lutherans bought a new position in shares of Intellia Therapeutics in the second quarter valued at $679,000. Sei Investments Co. lifted its stake in shares of Intellia Therapeutics by 24.7% in the second quarter. Sei Investments Co. now owns 9,282 shares of the company’s stock valued at $208,000 after buying an additional 1,837 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. lifted its stake in shares of Intellia Therapeutics by 6,974.7% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 60,913 shares of the company’s stock valued at $1,363,000 after buying an additional 60,052 shares in the last quarter. 88.77% of the stock is owned by institutional investors.

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.