Intellia Therapeutics Price Target Reduced by Truist Financial

Intellia Therapeutics, Inc. (NASDAQ: NTLA) has received a new price target from Truist Financial, which has been lowered from $90.00 to $50.00. This adjustment was detailed in a research report released to clients and investors on Tuesday. Despite the decrease in their price objective, Truist still maintains a "buy" rating for Intellia's stock. This new price target indicates a significant potential upside of 459.60% from the stock's most recent closing price.

Several other brokerages have also recently provided updates regarding Intellia Therapeutics. Barclays updated its price target, reducing it from $55.00 to $26.00 while holding an "overweight" rating on the stock. On November 18th, William Blair reiterated a "neutral" rating and provided a price target of $14.00 for the shares of Intellia Therapeutics. Similar sentiments were shown by Wedbush, which maintained a "neutral" rating and adjusted its price objective down to $10.00 from a previous $14.00. Additionally, BMO Capital Markets also lowered its price target to $50.00 while retaining an "outperform" rating. Canaccord Genuity Group, on the other hand, reaffirmed a "buy" rating and set a higher price target of $90.00. Overall, analysts have categorized Intellia's stock with a range of ratings: two analysts have rated it a sell, six have a hold rating, while ten analysts rate it as a buy and one as a strong buy. MarketBeat data reveals a consensus rating of "Moderate Buy" with an average price target for the stock set at $38.00.

Intellia Therapeutics Stock Performance

On Tuesday, shares of Intellia Therapeutics fell by 5.4%, closing at $8.94. The trading volume reached approximately 2,937,642 shares, which is lower than the average trading volume of 3,278,839. The stock's 52-week low is recorded at $8.30, while its high has been $32.42. The company boasts a market capitalization of roughly $924.92 million, a negative PE ratio of -1.64, and a beta of 1.97. The 50-day moving average price is currently at $10.80, and the 200-day moving average price is around $15.46.

Insider Activity at Intellia Therapeutics

In related news concerning insider activity, CEO John M. Leonard sold 26,807 shares of Intellia’s stock on January 3rd, fetching an average price of $12.18 per share, which totaled around $326,509.26. Following this transaction, Leonard holds 941,115 shares valued at approximately $11,462,780.70; this sale represents a 2.77% reduction in his ownership stake. This information has been disclosed in a filing with the SEC, which is accessible for further details. Over the last 90 days, company insiders sold a total of 29,000 shares valued at $352,551, indicating that insiders currently own about 3.20% of the stock.

Institutional Investments in Intellia Therapeutics

A number of hedge funds and institutional investors have recently taken new positions or adjusted their stakes in Intellia Therapeutics. For instance, Mirae Asset Global Investments Co. Ltd. boosted its position in the company by 27.6% in the third quarter, now owning 3,674 shares valued at $77,000 after purchasing an additional 794 shares. Harbor Capital Advisors Inc. increased its stake by 71.0%, now holding 79,205 shares worth $1,628,000 after acquiring 32,893 shares. ARK Investment Management LLC raised its holdings in Intellia by 5.7%, now owning 12,255,440 shares valued at $251,849,000 after purchasing 659,651 more shares. Furthermore, Lewis Asset Management LLC grew its position by 42.5%, obtaining 66,308 shares worth $1,363,000. Lastly, Atria Investments Inc. enhanced its holdings by 24.3%, now owning 23,099 shares valued at $475,000. Overall, institutional investors currently hold approximately 88.77% of the stock.

About Intellia Therapeutics

Intellia Therapeutics, Inc. focuses on creating curative therapeutics through genome editing technology. Their in vivo programs include NTLA-2001, which is undergoing a Phase 1 clinical trial for transthyretin amyloidosis; NTLA-2002, aimed at treating hereditary angioedema; and NTLA-3001 for alpha-1 antitrypsin deficiency, which impacts lung health.

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