JPMorgan Chase & Co. started coverage on shares of Intellia Therapeutics (NASDAQ:NTLA – Get Rating) in a research report report published on Wednesday, The Fly reports. The brokerage issued an overweight rating and a $85.00 price target on the stock.
Several other research analysts have also commented on the stock. JMP Securities raised their price objective on shares of Intellia Therapeutics from $106.00 to $111.00 and gave the company a market outperform rating in a research note on Monday. Citigroup initiated coverage on shares of Intellia Therapeutics in a research note on Thursday, September 1st. They issued a sell rating and a $50.00 price objective for the company. Bank of America initiated coverage on shares of Intellia Therapeutics in a research note on Thursday, June 16th. They issued a buy rating and a $70.00 price objective for the company. SVB Leerink raised their price objective on shares of Intellia Therapeutics from $152.00 to $158.00 and gave the company an outperform rating in a research note on Monday. Finally, StockNews.com raised shares of Intellia Therapeutics to a sell rating in a research note on Friday, August 5th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average target price of $121.67.
Intellia Therapeutics Price Performance
Shares of NTLA stock opened at $59.47 on Wednesday. The firm has a market cap of $4.52 billion, a PE ratio of -11.12 and a beta of 2.02. The company has a 50-day moving average of $62.87 and a two-hundred day moving average of $58.03. Intellia Therapeutics has a 1-year low of $37.08 and a 1-year high of $155.63.
Institutional Trading of Intellia Therapeutics
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Federated Hermes Inc. raised its holdings in Intellia Therapeutics by 128.9% during the second quarter. Federated Hermes Inc. now owns 1,418,300 shares of the company’s stock worth $73,411,000 after purchasing an additional 798,700 shares in the last quarter. Amundi raised its holdings in Intellia Therapeutics by 80.2% during the second quarter. Amundi now owns 10,607 shares of the company’s stock worth $677,000 after purchasing an additional 4,720 shares in the last quarter. Legal & General Group Plc raised its holdings in Intellia Therapeutics by 7.6% during the second quarter. Legal & General Group Plc now owns 72,556 shares of the company’s stock worth $3,756,000 after purchasing an additional 5,105 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Intellia Therapeutics by 59.7% in the 2nd quarter. Goldman Sachs Group Inc. now owns 848,183 shares of the company’s stock valued at $43,902,000 after acquiring an additional 317,167 shares during the period. Finally, First Republic Investment Management Inc. acquired a new position in shares of Intellia Therapeutics in the 2nd quarter valued at $283,000. Institutional investors and hedge funds own 88.18% of the company’s stock.
About Intellia Therapeutics
Intellia Therapeutics, Inc, a genome editing company, focuses on the development of therapeutics. The company's in vivo programs include NTLA-2001, which is in Phase 1 clinical trial for the treatment of transthyretin amyloidosis; and NTLA-2002 for the treatment of hereditary angioedema, as well as other liver-focused programs comprising hemophilia A and hemophilia B, hyperoxaluria Type 1, and alpha-1 antitrypsin deficiency.
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