Intellia Therapeutics (NASDAQ:NTLA) Hits New 12-Month Low – Time to Sell?

Intellia Therapeutics, Inc. (NASDAQ:NTLA)’s stock price hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $13.95 and last traded at $13.97, with a volume of 3666342 shares traded. The stock had previously closed at $15.12.

Analyst Ratings Changes

A number of brokerages have commented on NTLA. JPMorgan Chase & Co. reduced their price target on shares of Intellia Therapeutics from $61.00 to $55.00 and set an “overweight” rating on the stock in a research report on Monday, August 12th. The Goldman Sachs Group decreased their target price on shares of Intellia Therapeutics from $31.00 to $20.00 and set a “neutral” rating on the stock in a research note on Friday, October 25th. Oppenheimer dropped their price target on shares of Intellia Therapeutics from $70.00 to $60.00 and set an “outperform” rating for the company in a research report on Monday, November 11th. Stifel Nicolaus decreased their price objective on shares of Intellia Therapeutics from $80.00 to $64.00 and set a “buy” rating on the stock in a research report on Wednesday, September 11th. Finally, Evercore ISI raised shares of Intellia Therapeutics to a “strong-buy” rating in a research note on Friday, August 9th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Intellia Therapeutics has a consensus rating of “Moderate Buy” and a consensus price target of $55.36.

Intellia Therapeutics Trading Down 7.6 %

The business has a fifty day simple moving average of $18.64 and a two-hundred day simple moving average of $22.04.

Intellia Therapeutics (NASDAQ:NTLA) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($1.34) earnings per share for the quarter, topping the consensus estimate of ($1.37) by $0.03. The firm had revenue of $9.10 million during the quarter, compared to analysts’ expectations 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 previous year, the company earned ($1.38) earnings per share. As a group, sell-side analysts expect that Intellia Therapeutics, Inc. will post -5.13 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CAO Michael P. Dube sold 2,012 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $19.01, for a total transaction of $38,248.12. Following the sale, the chief accounting officer now owns 47,012 shares of the company’s stock, valued at $893,698.12. The trade was a 4.10 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 3.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Intellia Therapeutics

Large investors have recently made changes to their positions in the business. First Horizon Advisors Inc. grew its stake in shares of Intellia Therapeutics by 22.1% in the 2nd quarter. First Horizon Advisors Inc. now owns 2,604 shares of the company’s stock worth $58,000 after buying an additional 472 shares during the last quarter. Elmwood Wealth Management Inc. grew its stake in shares of Intellia Therapeutics by 0.9% in the third quarter. Elmwood Wealth Management Inc. now owns 67,774 shares of the company’s stock worth $1,393,000 after acquiring an additional 600 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Intellia Therapeutics by 9.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 8,894 shares of the company’s stock valued at $245,000 after acquiring an additional 750 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Intellia Therapeutics by 27.6% in 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 last quarter. Finally, Capstone Investment Advisors LLC boosted its stake in Intellia Therapeutics by 1.4% in the 3rd quarter. Capstone Investment Advisors LLC now owns 61,129 shares of the company’s stock worth $1,256,000 after purchasing an additional 831 shares in the last quarter. 88.77% of the stock is currently owned by hedge funds and other 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.