Intellia Therapeutics (NASDAQ:NTLA) Reaches New 12-Month Low After Analyst Downgrade

Shares of Intellia Therapeutics, Inc. (NASDAQ:NTLA) hit a new 52-week low during mid-day trading on Friday after BMO Capital Markets lowered their price target on the stock from $70.00 to $50.00. BMO Capital Markets currently has an outperform rating on the stock. Intellia Therapeutics traded as low as $10.35 and last traded at $10.56, with a volume of 1506684 shares trading hands. The stock had previously closed at $12.02.

Several other research analysts have also commented on NTLA. StockNews.com raised shares of Intellia Therapeutics to a “sell” rating in a research note on Friday, November 8th. Citigroup cut their price target on shares of Intellia Therapeutics from $25.00 to $19.00 and set a “neutral” rating on the stock in a report on Friday, October 25th. Robert W. Baird decreased their price objective on shares of Intellia Therapeutics from $24.00 to $18.00 and set a “neutral” rating for the company in a research note on Friday, October 25th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $90.00 target price on shares of Intellia Therapeutics in a research note on Tuesday, November 19th. Finally, William Blair reissued a “neutral” rating and set a $14.00 price target on shares of Intellia Therapeutics in a research note on Monday, November 18th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $53.06.

Insider Transactions at Intellia Therapeutics

In other news, CEO John M. Leonard sold 26,807 shares of the 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 completion of the transaction, the chief executive officer now directly owns 941,115 shares of the company’s stock, valued at approximately $11,462,780.70. This represents a 2.77 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders sold a total of 28,735 shares of company stock worth $349,909 over the last ninety days. Company insiders own 3.20% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. EverSource Wealth Advisors LLC grew its stake in shares of Intellia Therapeutics by 763.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,753 shares of the company’s stock worth $39,000 after purchasing an additional 1,550 shares during the period. Eastern Bank acquired a new position in Intellia Therapeutics during the third quarter worth about $41,000. Values First Advisors Inc. purchased a new position in Intellia Therapeutics in the third quarter valued at about $54,000. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Intellia Therapeutics by 27.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,674 shares of the company’s stock valued at $77,000 after acquiring an additional 794 shares during the period. Finally, KBC Group NV grew its holdings in shares of Intellia Therapeutics by 37.3% in the 3rd quarter. KBC Group NV now owns 3,753 shares of the company’s stock worth $77,000 after acquiring an additional 1,020 shares during the period. Hedge funds and other institutional investors own 88.77% of the company’s stock.

Intellia Therapeutics Stock Down 14.1 %

The firm’s fifty day simple moving average is $13.87 and its 200-day simple moving average is $19.10. The company has a market cap of $1.05 billion, a PE ratio of -1.90 and a beta of 1.83.

Intellia Therapeutics (NASDAQ:NTLA) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($1.34) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.37) by $0.03. The company had revenue of $9.10 million for the quarter, compared to analysts’ expectations of $8.28 million. During the same period in the prior year, the business earned ($1.38) EPS. The business’s revenue for the quarter was down 24.1% on a year-over-year basis. On average, analysts predict that Intellia Therapeutics, Inc. will post -5.12 earnings per share for the current year.

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.