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

Intellia Therapeutics (NASDAQ:NTLA) had its target price reduced by equities research analysts at Wells Fargo & Company from $60.00 to $50.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price would suggest a potential upside of 401.81% from the stock’s previous close.

A number of other research analysts have also weighed in on NTLA. StockNews.com raised Intellia Therapeutics to a “sell” rating in a report on Friday, November 8th. William Blair restated a “neutral” rating and issued a $14.00 target price on shares of Intellia Therapeutics in a research report on Monday, November 18th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $90.00 price target on shares of Intellia Therapeutics in a report on Tuesday, November 19th. Chardan Capital reduced their target price on shares of Intellia Therapeutics from $91.00 to $68.00 and set a “buy” rating on the stock in a research note on Friday. Finally, Oppenheimer lowered their price target on Intellia Therapeutics from $60.00 to $40.00 and set an “outperform” rating for the company in a report on Monday, January 13th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Intellia Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $44.12.

Intellia Therapeutics Stock Performance

NTLA traded down $0.90 on Friday, hitting $9.96. The company had a trading volume of 2,086,680 shares, compared to its average volume of 3,230,662. The stock has a fifty day moving average price of $10.90 and a 200-day moving average price of $15.72. The stock has a market capitalization of $1.01 billion, a price-to-earnings ratio of -1.83 and a beta of 1.80. Intellia Therapeutics has a 12-month low of $8.96 and a 12-month high of $34.87.

Insiders Place Their Bets

In related news, CEO John M. Leonard sold 26,807 shares of the business’s stock in a transaction that occurred on Friday, January 3rd. The stock was 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. The trade was a 2.77 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In the last quarter, insiders have sold 29,000 shares of company stock worth $352,551. Company insiders own 3.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Intellia Therapeutics by 27.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,674 shares of the company’s stock valued at $77,000 after purchasing an additional 794 shares in the last quarter. SteelPeak Wealth LLC acquired a new position in Intellia Therapeutics during the 3rd quarter worth about $393,000. Harbor Capital Advisors Inc. grew its stake in shares of Intellia Therapeutics by 71.0% during the third quarter. Harbor Capital Advisors Inc. now owns 79,205 shares of the company’s stock valued at $1,628,000 after purchasing an additional 32,893 shares during the last quarter. ARK Investment Management LLC increased its stake in shares of Intellia Therapeutics by 5.7% in the 3rd quarter. ARK Investment Management LLC now owns 12,255,440 shares of the company’s stock valued at $251,849,000 after buying an additional 659,651 shares during the period. Finally, Lewis Asset Management LLC grew its position in shares of Intellia Therapeutics by 42.5% during the 3rd quarter. Lewis Asset Management LLC now owns 66,308 shares of the company’s stock worth $1,363,000 after buying an additional 19,775 shares during the period. 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.