Intellia Therapeutics (NASDAQ:NTLA) Trading Down 7.3% – Should You Sell?

Intellia Therapeutics, Inc. (NASDAQ:NTLA) fell 7.3% during trading on Wednesday . The stock traded as low as $19.51 and last traded at $19.54. Approximately 966,077 shares changed hands during trading, a decline of 37% from the average daily volume of 1,537,756 shares. The stock had previously closed at $21.08.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Stifel Nicolaus dropped their price objective on shares of Intellia Therapeutics from $80.00 to $64.00 and set a “buy” rating for the company in a report on Wednesday, September 11th. StockNews.com raised Intellia Therapeutics to a “sell” rating in a research note on Thursday, June 27th. Canaccord Genuity Group reissued a “buy” rating and set a $73.00 price objective on shares of Intellia Therapeutics in a research report on Thursday, June 27th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $54.00 target price on shares of Intellia Therapeutics in a research report on Thursday, September 19th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Intellia Therapeutics from $61.00 to $55.00 and set an “overweight” rating for the company in a research report on Monday, August 12th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $61.77.

Intellia Therapeutics Trading Down 4.8 %

The firm has a market cap of $1.94 billion, a PE ratio of -3.71 and a beta of 1.76. The firm has a 50 day moving average price of $21.02 and a 200-day moving average price of $22.89.

Intellia Therapeutics (NASDAQ:NTLA) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($1.52) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.23) by ($0.29). The company had revenue of $7.00 million for the quarter, compared to the consensus estimate of $19.68 million. During the same period in the prior year, the company earned ($1.40) EPS. The firm’s revenue was down 48.5% compared to the same quarter last year. Equities analysts forecast that Intellia Therapeutics, Inc. will post -5.22 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Intellia Therapeutics news, CAO Michael P. Dube sold 2,012 shares of Intellia Therapeutics stock in a transaction dated Wednesday, October 2nd. The stock was 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 directly owns 47,012 shares of the company’s stock, valued at $893,698.12. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 3.00% of the company’s stock.

Institutional Trading of Intellia Therapeutics

Several institutional investors have recently modified their holdings of NTLA. Values First Advisors Inc. purchased a new stake in Intellia Therapeutics in the 3rd quarter valued at $54,000. Hennion & Walsh Asset Management Inc. raised its holdings in shares of Intellia Therapeutics by 34.7% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 53,721 shares of the company’s stock valued at $1,104,000 after buying an additional 13,839 shares during the last quarter. Eastern Bank purchased a new position in shares of Intellia Therapeutics during the 3rd quarter worth approximately $41,000. Blue Trust Inc. lifted its holdings in shares of Intellia Therapeutics by 182.7% in the 3rd quarter. Blue Trust Inc. now owns 4,189 shares of the company’s stock valued at $94,000 after buying an additional 2,707 shares during the period. Finally, nVerses Capital LLC purchased a new stake in shares of Intellia Therapeutics in the third quarter valued at approximately $142,000. Hedge funds and other 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.