Wells Fargo & Company Issues Pessimistic Forecast for Intellia Therapeutics (NASDAQ:NTLA) Stock Price

Intellia Therapeutics (NASDAQ:NTLA) had its target price reduced by Wells Fargo & Company from $80.00 to $70.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target points to a potential upside of 399.29% from the company’s previous close.

Several other analysts have also recently commented on NTLA. Wedbush restated a “neutral” rating and set a $14.00 price objective on shares of Intellia Therapeutics in a research note on Monday. Citigroup cut their price target on Intellia Therapeutics from $25.00 to $19.00 and set a “neutral” rating on the stock in a research report on Friday, October 25th. Oppenheimer decreased their price objective on Intellia Therapeutics from $70.00 to $60.00 and set an “outperform” rating for the company in a report on Monday, November 11th. William Blair restated a “neutral” rating and issued a $14.00 price objective on shares of Intellia Therapeutics in a research report on Monday. Finally, Evercore ISI raised shares of Intellia Therapeutics to a “strong-buy” rating in a report on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Intellia Therapeutics has an average rating of “Moderate Buy” and a consensus price target of $53.88.

Intellia Therapeutics Price Performance

Intellia Therapeutics stock traded up $0.05 during midday trading on Monday, reaching $14.02. The company’s stock had a trading volume of 3,412,892 shares, compared to its average volume of 1,689,798. The stock has a market capitalization of $1.43 billion, a P/E ratio of -2.58 and a beta of 1.81. The stock’s 50-day simple moving average is $18.64 and its 200-day simple moving average is $22.04. Intellia Therapeutics has a 52-week low of $13.54 and a 52-week high of $34.87.

Intellia Therapeutics (NASDAQ:NTLA) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($1.34) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.37) by $0.03. The company had revenue of $9.10 million for the quarter, compared to analyst estimates of $8.28 million. During the same quarter in the previous year, the company posted ($1.38) EPS. The company’s revenue for the quarter was down 24.1% compared to the same quarter last year. As a group, equities research analysts expect that Intellia Therapeutics will post -5.13 earnings per share for the current fiscal year.

Insider Activity at Intellia Therapeutics

In related news, CAO Michael P. Dube sold 2,012 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $19.01, for a total transaction of $38,248.12. Following the completion of the transaction, the chief accounting officer now directly owns 47,012 shares in the company, valued at $893,698.12. This trade represents a 4.10 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 3.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Intellia Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of NTLA. ARK Investment Management LLC increased its stake in shares of Intellia Therapeutics by 5.7% during the third quarter. ARK Investment Management LLC now owns 12,255,440 shares of the company’s stock worth $251,849,000 after acquiring an additional 659,651 shares during the period. Vanguard Group Inc. grew its position in shares of Intellia Therapeutics by 8.9% in the first quarter. Vanguard Group Inc. now owns 9,093,712 shares of the company’s stock valued at $250,168,000 after purchasing an additional 746,263 shares during the last quarter. State Street Corp lifted its holdings in Intellia Therapeutics by 17.9% in the 3rd quarter. State Street Corp now owns 5,143,534 shares of the company’s stock valued at $105,700,000 after purchasing an additional 780,754 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Intellia Therapeutics by 2.2% during the third quarter. Geode Capital Management LLC now owns 2,343,310 shares of the company’s stock worth $48,164,000 after purchasing an additional 49,367 shares during the last quarter. Finally, FMR LLC boosted its position in shares of Intellia Therapeutics by 5.0% in the third quarter. FMR LLC now owns 2,339,522 shares of the company’s stock worth $48,077,000 after acquiring an additional 111,104 shares during the last quarter. 88.77% of the stock is currently owned by institutional investors and hedge funds.

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.