Intellia Therapeutics (NASDAQ:NTLA) Price Target Lowered to $50.00 at Truist Financial

Intellia Therapeutics (NASDAQ:NTLA) had its target price lowered by Truist Financial from $90.00 to $50.00 in a report published on Tuesday morning,Benzinga reports. Truist Financial currently has a buy rating on the stock.

A number of other equities research analysts also recently commented on NTLA. Wells Fargo & Company reduced their target price on Intellia Therapeutics from $60.00 to $50.00 and set an “overweight” rating for the company in a report on Friday, February 28th. Morgan Stanley lowered Intellia Therapeutics from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $56.00 to $11.00 in a report on Monday, January 27th. BMO Capital Markets lowered their price objective on shares of Intellia Therapeutics from $70.00 to $50.00 and set an “outperform” rating on the stock in a research note on Friday, January 10th. Wedbush reissued a “neutral” rating and issued a $10.00 price target (down from $14.00) on shares of Intellia Therapeutics in a report on Friday, January 10th. Finally, Citigroup upped their target price on shares of Intellia Therapeutics from $12.00 to $14.00 and gave the company a “neutral” rating in a report on Friday, February 28th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $37.56.

Intellia Therapeutics Stock Performance

Shares of Intellia Therapeutics stock opened at $9.90 on Tuesday. Intellia Therapeutics has a one year low of $8.30 and a one year high of $32.00. The company has a market cap of $1.02 billion, a P/E ratio of -1.82 and a beta of 1.97. The firm has a fifty day moving average of $10.64 and a two-hundred day moving average of $15.28.

Insider Transactions at Intellia Therapeutics

In other Intellia Therapeutics news, CEO John M. Leonard sold 26,807 shares of Intellia Therapeutics stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $12.18, for a total transaction of $326,509.26. Following the sale, the chief executive officer now directly owns 941,115 shares in the company, valued at $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 the SEC website. Over the last ninety days, insiders have sold 29,000 shares of company stock valued at $352,551. 3.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in NTLA. Regeneron Pharmaceuticals Inc. acquired a new stake in shares of Intellia Therapeutics in the 4th quarter valued at about $43,177,000. Voloridge Investment Management LLC raised its stake in Intellia Therapeutics by 226.8% during the fourth quarter. Voloridge Investment Management LLC now owns 1,526,994 shares of the company’s stock valued at $17,805,000 after buying an additional 1,059,751 shares in the last quarter. Contrarius Group Holdings Ltd bought a new position in Intellia Therapeutics during the 4th quarter worth approximately $11,798,000. Two Sigma Advisers LP grew its position in shares of Intellia Therapeutics by 94.5% in the 4th quarter. Two Sigma Advisers LP now owns 1,998,317 shares of the company’s stock worth $23,300,000 after acquiring an additional 970,700 shares in the last quarter. Finally, Two Sigma Investments LP increased its holdings in shares of Intellia Therapeutics by 88.1% in the 4th quarter. Two Sigma Investments LP now owns 1,843,743 shares of the company’s stock valued at $21,498,000 after acquiring an additional 863,363 shares during the last quarter. 88.77% of the stock is currently 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.