Intellia Therapeutics (NASDAQ:NTLA) Trading Down 5.7% – Should You Sell?

Intellia Therapeutics, Inc. (NASDAQ:NTLA)’s share price dropped 5.7% on Wednesday . The stock traded as low as $13.28 and last traded at $13.32. Approximately 1,512,433 shares were traded during mid-day trading, a decline of 11% from the average daily volume of 1,705,796 shares. The stock had previously closed at $14.13.

Analysts Set New Price Targets

A number of research firms recently issued reports on NTLA. Stifel Nicolaus dropped their price target on Intellia Therapeutics from $80.00 to $64.00 and set a “buy” rating on the stock in a research note on Wednesday, September 11th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $90.00 target price on shares of Intellia Therapeutics in a report on Tuesday. Oppenheimer reduced their target price on shares of Intellia Therapeutics from $70.00 to $60.00 and set an “outperform” rating for the company in a report on Monday, November 11th. Robert W. Baird cut their price target on Intellia Therapeutics from $24.00 to $18.00 and set a “neutral” rating for the company in a research note on Friday, October 25th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $54.00 price target on shares of Intellia Therapeutics in a report on Thursday, September 19th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $54.94.

Intellia Therapeutics Trading Down 0.7 %

The firm has a 50 day moving average price of $18.12 and a two-hundred day moving average price of $21.79. The firm has a market capitalization of $1.40 billion, a price-to-earnings ratio of -2.55 and a beta of 1.81.

Intellia Therapeutics (NASDAQ:NTLA) last posted its earnings results on Thursday, November 7th. The company reported ($1.34) earnings per share 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 analyst estimates of $8.28 million. During the same quarter in the previous year, the firm posted ($1.38) EPS. The business’s revenue was down 24.1% compared to the same quarter last year. As a group, research analysts forecast that Intellia Therapeutics, Inc. will post -5.13 earnings per share for the current year.

Insiders Place Their Bets

In related news, CAO Michael P. Dube sold 2,012 shares of the firm’s 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 sale, the chief accounting officer now directly owns 47,012 shares in the company, valued at approximately $893,698.12. This trade represents a 4.10 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 3.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Intellia Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the company. First Horizon Advisors Inc. increased its stake in Intellia Therapeutics by 22.1% during the second quarter. First Horizon Advisors Inc. now owns 2,604 shares of the company’s stock valued at $58,000 after purchasing an additional 472 shares during the last quarter. Elmwood Wealth Management Inc. grew its position in shares of Intellia Therapeutics by 0.9% during the 3rd quarter. Elmwood Wealth Management Inc. now owns 67,774 shares of the company’s stock valued at $1,393,000 after buying an additional 600 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in Intellia Therapeutics by 27.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,674 shares of the company’s stock worth $77,000 after acquiring an additional 794 shares during the period. Capstone Investment Advisors LLC lifted its holdings in Intellia Therapeutics by 1.4% in the third quarter. Capstone Investment Advisors LLC now owns 61,129 shares of the company’s stock worth $1,256,000 after acquiring an additional 831 shares during the last quarter. Finally, Axxcess Wealth Management LLC boosted its stake in Intellia Therapeutics by 6.5% in the first quarter. Axxcess Wealth Management LLC now owns 16,602 shares of the company’s stock valued at $457,000 after acquiring an additional 1,010 shares during the period. 88.77% of the stock is owned by institutional investors and hedge funds.

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.