Intellia Therapeutics (NASDAQ:NTLA) Hits New 1-Year Low – Here’s What Happened

Intellia Therapeutics, Inc. (NASDAQ:NTLA) shares hit a new 52-week low during mid-day trading on Monday . The company traded as low as $5.90 and last traded at $6.00, with a volume of 517535 shares trading hands. The stock had previously closed at $6.63.

Analyst Upgrades and Downgrades

A number of research firms have commented on NTLA. Barclays decreased their target price on Intellia Therapeutics from $55.00 to $26.00 and set an “overweight” rating on the stock in a research report on Friday, February 28th. Morgan Stanley cut shares of Intellia Therapeutics from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $56.00 to $11.00 in a research report on Monday, January 27th. Truist Financial lowered their price target on shares of Intellia Therapeutics from $90.00 to $50.00 and set a “buy” rating on the stock in a research report on Tuesday, March 4th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $13.00 price objective (down previously from $45.00) on shares of Intellia Therapeutics in a research note on Friday, February 28th. Finally, BMO Capital Markets cut their price target on Intellia Therapeutics from $70.00 to $50.00 and set an “outperform” rating for the company in a report on Friday, January 10th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Intellia Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $37.56.

Intellia Therapeutics Stock Performance

The company has a 50 day moving average price of $9.61 and a 200 day moving average price of $13.20. The company has a market capitalization of $650.71 million, a PE ratio of -1.16 and a beta of 2.23.

Institutional Investors Weigh In On Intellia Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Regeneron Pharmaceuticals Inc. acquired a new position in Intellia Therapeutics in the fourth quarter worth about $43,177,000. Voloridge Investment Management LLC boosted its holdings in Intellia Therapeutics by 226.8% in the fourth quarter. Voloridge Investment Management LLC now owns 1,526,994 shares of the company’s stock worth $17,805,000 after purchasing an additional 1,059,751 shares during the period. Contrarius Group Holdings Ltd acquired a new stake in Intellia Therapeutics during the fourth quarter worth about $11,798,000. Two Sigma Advisers LP raised its holdings in shares of Intellia Therapeutics by 94.5% during the fourth quarter. Two Sigma Advisers LP now owns 1,998,317 shares of the company’s stock valued at $23,300,000 after buying an additional 970,700 shares during the last quarter. Finally, Two Sigma Investments LP boosted its position in shares of Intellia Therapeutics by 88.1% during the fourth quarter. Two Sigma Investments LP now owns 1,843,743 shares of the company’s stock worth $21,498,000 after buying an additional 863,363 shares during the period. Institutional investors own 88.77% of the company’s stock.

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.