Intellia Therapeutics (NASDAQ:NTLA) Trading Down 4.2% – What’s Next?

Intellia Therapeutics, Inc. (NASDAQ:NTLA) shares dropped 4.2% during mid-day trading on Friday . The company traded as low as $12.97 and last traded at $12.99. Approximately 395,575 shares were traded during trading, a decline of 77% from the average daily volume of 1,748,399 shares. The stock had previously closed at $13.56.

Analysts Set New Price Targets

A number of research firms have weighed in on NTLA. Canaccord Genuity Group reaffirmed a “buy” rating and set a $90.00 target price on shares of Intellia Therapeutics in a report on Tuesday, November 19th. Chardan Capital boosted their price objective on shares of Intellia Therapeutics from $88.00 to $91.00 and gave the company a “buy” rating in a research note on Monday, November 18th. William Blair reiterated a “neutral” rating and issued a $14.00 target price on shares of Intellia Therapeutics in a research note on Monday, November 18th. Barclays reduced their price target on shares of Intellia Therapeutics from $76.00 to $55.00 and set an “overweight” rating for the company in a research report on Friday, November 8th. Finally, StockNews.com raised Intellia Therapeutics to a “sell” rating in a research note on Friday, November 8th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $54.94.

Intellia Therapeutics Stock Down 4.9 %

The firm has a market capitalization of $1.31 billion, a P/E ratio of -2.37 and a beta of 1.76. The business’s 50-day simple moving average is $16.13 and its 200 day simple moving average is $20.60.

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

Insider Activity

In other Intellia Therapeutics news, CAO Michael P. Dube sold 2,012 shares of the stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $19.01, for a total transaction of $38,248.12. Following the completion of the sale, the chief accounting officer now owns 47,012 shares of the company’s stock, valued at $893,698.12. This represents a 4.10 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 3.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Intellia Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of NTLA. Blue Trust Inc. raised its holdings in Intellia Therapeutics by 1,664.3% in the 2nd quarter. Blue Trust Inc. now owns 1,482 shares of the company’s stock worth $33,000 after purchasing an additional 1,398 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in Intellia Therapeutics by 763.5% in the second quarter. EverSource Wealth Advisors LLC now owns 1,753 shares of the company’s stock worth $39,000 after buying an additional 1,550 shares in the last quarter. Eastern Bank purchased a new stake in Intellia Therapeutics in the third quarter worth about $41,000. Values First Advisors Inc. bought a new stake in Intellia Therapeutics during the 3rd quarter valued at approximately $54,000. Finally, First Horizon Advisors Inc. grew its holdings in shares of Intellia Therapeutics by 22.1% during the 2nd quarter. First Horizon Advisors Inc. now owns 2,604 shares of the company’s stock worth $58,000 after acquiring an additional 472 shares during the period. 88.77% of the stock is 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.