Analysts Set Intellia Therapeutics, Inc. (NASDAQ:NTLA) Target Price at $61.77

Shares of Intellia Therapeutics, Inc. (NASDAQ:NTLA) have earned an average recommendation of “Moderate Buy” from the fifteen analysts that are presently covering the stock, Marketbeat reports. Four equities research analysts have rated the stock with a hold recommendation, ten have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $61.77.

A number of brokerages have weighed in on NTLA. Canaccord Genuity Group reissued a “buy” rating and issued a $73.00 price target on shares of Intellia Therapeutics in a report on Thursday, June 27th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $65.00 price objective on shares of Intellia Therapeutics in a research report on Monday, June 24th. Truist Financial reaffirmed a “buy” rating and issued a $120.00 target price on shares of Intellia Therapeutics in a research note on Monday, June 24th. Evercore ISI raised Intellia Therapeutics to a “strong-buy” rating in a research note on Friday, August 9th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Intellia Therapeutics from $61.00 to $55.00 and set an “overweight” rating on the stock in a research note on Monday, August 12th.

Institutional Investors Weigh In On Intellia Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of Intellia Therapeutics by 8.9% during the 1st quarter. Vanguard Group Inc. now owns 9,093,712 shares of the company’s stock worth $250,168,000 after acquiring an additional 746,263 shares in the last quarter. ARK Investment Management LLC boosted its position in shares of Intellia Therapeutics by 5.5% in the second quarter. ARK Investment Management LLC now owns 11,595,789 shares of the company’s stock valued at $259,514,000 after acquiring an additional 606,507 shares during the period. Norges Bank acquired a new position in shares of Intellia Therapeutics during the 4th quarter worth approximately $16,348,000. Federated Hermes Inc. grew its position in Intellia Therapeutics by 19.2% during the second quarter. Federated Hermes Inc. now owns 2,300,889 shares of the company’s stock worth $51,494,000 after buying an additional 371,189 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Intellia Therapeutics during the 4th quarter worth $9,086,000. 88.77% of the stock is currently owned by institutional investors and hedge funds.

Intellia Therapeutics Stock Down 6.6 %

NASDAQ NTLA opened at $19.20 on Friday. The company has a 50 day moving average price of $22.64 and a two-hundred day moving average price of $23.74. Intellia Therapeutics has a 12-month low of $18.96 and a 12-month high of $34.87. The stock has a market capitalization of $1.85 billion, a PE ratio of -3.58 and a beta of 1.77.

Intellia Therapeutics (NASDAQ:NTLA) last announced its earnings results on Thursday, August 8th. The company reported ($1.52) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.23) by ($0.29). The business had revenue of $7.00 million during the quarter, compared to analysts’ expectations of $19.68 million. The firm’s revenue for the quarter was down 48.5% on a year-over-year basis. During the same period in the prior year, the firm earned ($1.40) earnings per share. As a group, equities analysts anticipate that Intellia Therapeutics will post -5.22 EPS for the current year.

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.