Intellia Therapeutics (NASDAQ:NTLA) Stock Price Down 7.1% – Time to Sell?

Intellia Therapeutics, Inc. (NASDAQ:NTLA)’s share price dropped 7.1% on Monday . The company traded as low as $9.35 and last traded at $9.59. Approximately 919,634 shares changed hands during mid-day trading, a decline of 70% from the average daily volume of 3,027,756 shares. The stock had previously closed at $10.32.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. StockNews.com raised Intellia Therapeutics to a “sell” rating in a report on Friday, November 8th. Oppenheimer reduced their target price on shares of Intellia Therapeutics from $60.00 to $40.00 and set an “outperform” rating on the stock in a research note on Monday, January 13th. Chardan Capital raised 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. Canaccord Genuity Group restated a “buy” rating and issued a $90.00 price target on shares of Intellia Therapeutics in a research report on Tuesday, November 19th. Finally, Wedbush reiterated a “neutral” rating and issued a $10.00 price objective (down previously from $14.00) on shares of Intellia Therapeutics in a report on Friday, January 10th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $48.71.

Intellia Therapeutics Trading Down 7.3 %

The stock’s 50-day simple moving average is $12.26 and its 200-day simple moving average is $17.48. The stock has a market cap of $974.30 million, a price-to-earnings ratio of -1.76 and a beta of 1.80.

Intellia Therapeutics (NASDAQ:NTLA) last released its earnings results on Thursday, November 7th. The company reported ($1.34) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.37) by $0.03. The company had revenue of $9.10 million for the quarter, compared to analyst estimates of $8.28 million. During the same period last year, the company posted ($1.38) earnings per share. The business’s revenue for the quarter was down 24.1% compared to the same quarter last year. On average, equities research analysts forecast that Intellia Therapeutics, Inc. will post -5.07 earnings per share for the current year.

Insider Activity

In related news, CEO John M. Leonard sold 26,807 shares of Intellia Therapeutics stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $12.18, for a total transaction of $326,509.26. Following the sale, the chief executive officer now directly owns 941,115 shares of the company’s stock, valued at approximately $11,462,780.70. The trade was a 2.77 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last ninety days, insiders sold 29,000 shares of company stock worth $352,551. 3.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Handelsbanken Fonder AB lifted its holdings in shares of Intellia Therapeutics by 7.1% during the fourth quarter. Handelsbanken Fonder AB now owns 34,700 shares of the company’s stock worth $405,000 after purchasing an additional 2,300 shares during the period. LMG Wealth Partners LLC bought a new stake in shares of Intellia Therapeutics in the 4th quarter valued at about $130,000. Rhumbline Advisers grew its position in shares of Intellia Therapeutics by 2.1% in the 4th quarter. Rhumbline Advisers now owns 166,248 shares of the company’s stock valued at $1,938,000 after buying an additional 3,499 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of Intellia Therapeutics by 14.0% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 12,863 shares of the company’s stock valued at $157,000 after buying an additional 1,582 shares during the period. Finally, Entropy Technologies LP bought a new position in shares of Intellia Therapeutics during the fourth quarter worth about $175,000. Institutional investors own 88.77% of the company’s stock.

About Intellia Therapeutics

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.