Intellia Therapeutics (NASDAQ:NTLA) Shares Down 9.6% on Analyst Downgrade

Intellia Therapeutics, Inc. (NASDAQ:NTLA)’s stock price fell 9.6% during mid-day trading on Friday after Barclays lowered their price target on the stock from $55.00 to $26.00. Barclays currently has an overweight rating on the stock. Intellia Therapeutics traded as low as $9.52 and last traded at $9.82. 622,529 shares changed hands during trading, a decline of 81% from the average session volume of 3,192,816 shares. The stock had previously closed at $10.86.

A number of other analysts have also recently weighed in on the stock. Wells Fargo & Company cut their price objective on shares of Intellia Therapeutics from $60.00 to $50.00 and set an “overweight” rating on the stock in a report on Friday. Chardan Capital cut their price target on shares of Intellia Therapeutics from $91.00 to $68.00 and set a “buy” rating on the stock in a research note on Friday. Morgan Stanley downgraded shares of Intellia Therapeutics from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $56.00 to $11.00 in a research note on Monday, January 27th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $13.00 target price (down previously from $45.00) on shares of Intellia Therapeutics in a research report on Friday. Finally, Wedbush reissued a “neutral” rating and issued a $10.00 target price (down from $14.00) on shares of Intellia Therapeutics in a report on Friday, January 10th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $42.12.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Intellia Therapeutics by 27.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,674 shares of the company’s stock worth $77,000 after purchasing an additional 794 shares during the period. Capstone Investment Advisors LLC boosted its holdings in Intellia Therapeutics by 1.4% during the third quarter. Capstone Investment Advisors LLC now owns 61,129 shares of the company’s stock worth $1,256,000 after buying an additional 831 shares in the last quarter. KBC Group NV boosted its holdings in Intellia Therapeutics by 37.3% during the third quarter. KBC Group NV now owns 3,753 shares of the company’s stock worth $77,000 after buying an additional 1,020 shares in the last quarter. Axxcess Wealth Management LLC grew its position in Intellia Therapeutics by 5.4% during the third quarter. Axxcess Wealth Management LLC now owns 20,215 shares of the company’s stock worth $415,000 after buying an additional 1,044 shares during the period. Finally, Ensign Peak Advisors Inc increased its holdings in Intellia Therapeutics by 2.9% in the fourth quarter. Ensign Peak Advisors Inc now owns 39,169 shares of the company’s stock valued at $457,000 after buying an additional 1,100 shares in the last quarter. Institutional investors and hedge funds own 88.77% of the company’s stock.

Intellia Therapeutics Stock Performance

The stock’s 50-day moving average price is $10.85 and its 200-day moving average price is $15.64. The company has a market capitalization of $1.03 billion, a price-to-earnings ratio of -1.85 and a beta of 1.80.

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.