Intellia Therapeutics (NASDAQ:NTLA) Given New $54.00 Price Target at Canaccord Genuity Group

Intellia Therapeutics (NASDAQ:NTLAGet Free Report) had its target price dropped by Canaccord Genuity Group from $74.00 to $54.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock.

A number of other equities analysts have also recently commented on NTLA. Wall Street Zen raised Intellia Therapeutics to a “sell” rating in a report on Monday, March 3rd. Wolfe Research upgraded Intellia Therapeutics from a “peer perform” rating to an “outperform” rating and set a $21.00 target price on the stock in a research report on Monday, April 21st. Chardan Capital reissued a “buy” rating and set a $68.00 target price on shares of Intellia Therapeutics in a research note on Friday, May 9th. Wells Fargo & Company reduced their price target on shares of Intellia Therapeutics from $60.00 to $50.00 and set an “overweight” rating on the stock in a research note on Friday, February 28th. Finally, Wedbush reaffirmed a “neutral” rating and set a $7.00 price target (down from $10.00) on shares of Intellia Therapeutics in a report on Thursday, May 29th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $34.95.

Read Our Latest Stock Report on NTLA

Intellia Therapeutics Trading Down 0.3%

Shares of Intellia Therapeutics stock opened at $7.67 on Tuesday. The company has a market cap of $794.48 million, a PE ratio of -1.41 and a beta of 2.33. The company has a 50 day moving average of $7.90 and a 200-day moving average of $10.17. Intellia Therapeutics has a 1-year low of $5.90 and a 1-year high of $28.18.

Intellia Therapeutics (NASDAQ:NTLAGet Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported ($1.10) EPS for the quarter, beating the consensus estimate of ($1.26) by $0.16. The firm had revenue of $16.63 million for the quarter, compared to analyst estimates of $11.39 million. During the same quarter in the prior year, the firm earned ($1.12) earnings per share. The firm’s revenue for the quarter was down 42.6% on a year-over-year basis. Research analysts forecast that Intellia Therapeutics will post -5.07 earnings per share for the current year.

Institutional Trading of Intellia Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of NTLA. ARK Investment Management LLC grew its position in shares of Intellia Therapeutics by 3.8% in the 1st quarter. ARK Investment Management LLC now owns 13,011,015 shares of the company’s stock valued at $92,508,000 after buying an additional 474,629 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Intellia Therapeutics by 5.5% in the first quarter. Vanguard Group Inc. now owns 10,752,031 shares of the company’s stock worth $76,447,000 after acquiring an additional 561,978 shares during the period. Regeneron Pharmaceuticals Inc. bought a new stake in Intellia Therapeutics in the fourth quarter valued at approximately $43,177,000. Geode Capital Management LLC increased its position in Intellia Therapeutics by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 2,389,240 shares of the company’s stock valued at $27,865,000 after purchasing an additional 45,930 shares during the period. Finally, Two Sigma Advisers LP increased its position in Intellia Therapeutics by 94.5% during the 4th quarter. Two Sigma Advisers LP now owns 1,998,317 shares of the company’s stock valued at $23,300,000 after purchasing an additional 970,700 shares during the period. 88.77% of the stock is currently owned by institutional investors and hedge funds.

About Intellia Therapeutics

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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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Analyst Recommendations for Intellia Therapeutics (NASDAQ:NTLA)

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