Chardan Capital Lowers Intellia Therapeutics (NASDAQ:NTLA) Price Target to $68.00

Intellia Therapeutics (NASDAQ:NTLA) had its target price cut by research analysts at Chardan Capital from $91.00 to $68.00 in a report issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock.

Several other analysts also recently issued reports on the stock. Barclays cut their target price on shares of Intellia Therapeutics from $76.00 to $55.00 and set an “overweight” rating on the stock in a research note on Friday, November 8th. Wedbush reissued a “neutral” rating and set a $10.00 target price (down from $14.00) on shares of Intellia Therapeutics in a research note on Friday, January 10th. William Blair reaffirmed a “neutral” rating and issued a $14.00 price target on shares of Intellia Therapeutics in a research note on Monday, November 18th. Oppenheimer dropped their price target on shares of Intellia Therapeutics from $60.00 to $40.00 and set an “outperform” rating on the stock in a research note on Monday, January 13th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $13.00 price target (down from $45.00) on shares of Intellia Therapeutics in a research note on Friday. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Intellia Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $42.12.

Intellia Therapeutics Stock Down 7.1 %

Shares of NASDAQ:NTLA opened at $10.09 on Friday. The company’s fifty day moving average is $10.85 and its two-hundred day moving average is $15.64. Intellia Therapeutics has a 12-month low of $8.96 and a 12-month high of $34.87. The company has a market cap of $1.03 billion, a P/E ratio of -1.85 and a beta of 1.80.

Insider Buying and Selling

In related news, CEO John M. Leonard sold 26,807 shares of the company’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $12.18, for a total value of $326,509.26. Following the completion of the sale, the chief executive officer now directly owns 941,115 shares in the company, valued at approximately $11,462,780.70. This represents a 2.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Over the last three months, insiders sold 29,000 shares of company stock worth $352,551. Corporate insiders own 3.20% of the company’s stock.

Institutional Investors Weigh In On Intellia Therapeutics

A number of hedge funds have recently bought and sold shares of NTLA. GF Fund Management CO. LTD. bought a new stake in Intellia Therapeutics during the fourth quarter valued at about $25,000. Sterling Capital Management LLC boosted its holdings in Intellia Therapeutics by 866.2% during the fourth quarter. Sterling Capital Management LLC now owns 3,198 shares of the company’s stock valued at $37,000 after acquiring an additional 2,867 shares during the period. Whipplewood Advisors LLC bought a new stake in Intellia Therapeutics during the fourth quarter valued at about $40,000. Resona Asset Management Co. Ltd. bought a new stake in Intellia Therapeutics during the fourth quarter valued at about $43,000. Finally, Jones Financial Companies Lllp boosted its holdings in Intellia Therapeutics by 140.9% during the fourth quarter. Jones Financial Companies Lllp now owns 3,898 shares of the company’s stock valued at $45,000 after acquiring an additional 2,280 shares during the period. 88.77% of the stock is currently owned by institutional investors.

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.