Intellia Therapeutics (NASDAQ:NTLA) Sets New 1-Year Low – Here’s What Happened

Intellia Therapeutics, Inc. (NASDAQ:NTLA) shares hit a new 52-week low during mid-day trading on Friday . The company 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 Upgrades and Downgrades

A number of analysts have commented on NTLA shares. Robert W. Baird decreased their price target on shares of Intellia Therapeutics from $24.00 to $18.00 and set a “neutral” rating for the company in a research note on Friday, October 25th. Chardan Capital decreased their target price on shares of Intellia Therapeutics from $94.00 to $88.00 and set a “buy” rating for the company in a research report on Thursday, October 24th. StockNews.com raised shares of Intellia Therapeutics to a “sell” rating in a research report on Friday, November 8th. Evercore ISI raised Intellia Therapeutics to a “strong-buy” rating in a report on Friday, August 9th. Finally, The Goldman Sachs Group lowered their price objective on Intellia Therapeutics from $31.00 to $20.00 and set a “neutral” rating for the company in a research note on Friday, October 25th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $55.36.

Intellia Therapeutics Stock Performance

The firm has a 50-day moving average price of $18.64 and a 200-day moving average price of $22.04.

Intellia Therapeutics (NASDAQ:NTLA) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($1.34) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.37) by $0.03. The company had revenue of $9.10 million for the quarter, compared to analysts’ expectations of $8.28 million. The business’s quarterly revenue was down 24.1% on a year-over-year basis. During the same quarter last year, the business posted ($1.38) EPS. As a group, sell-side analysts predict that Intellia Therapeutics, Inc. will post -5.13 earnings per share for the current year.

Insider Transactions at Intellia Therapeutics

In other Intellia Therapeutics news, CAO Michael P. Dube sold 2,012 shares of the stock in a transaction on 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 transaction, the chief accounting officer now directly owns 47,012 shares of the company’s stock, valued at approximately $893,698.12. This represents a 4.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 3.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in NTLA. First Horizon Advisors Inc. raised its stake in Intellia Therapeutics by 22.1% in the 2nd quarter. First Horizon Advisors Inc. now owns 2,604 shares of the company’s stock valued at $58,000 after acquiring an additional 472 shares during the period. Elmwood Wealth Management Inc. boosted its holdings in Intellia Therapeutics by 0.9% in the 3rd quarter. Elmwood Wealth Management Inc. now owns 67,774 shares of the company’s stock worth $1,393,000 after buying an additional 600 shares during the period. Allspring Global Investments Holdings LLC grew its position in shares of Intellia Therapeutics by 9.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 8,894 shares of the company’s stock valued at $245,000 after purchasing an additional 750 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised 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 valued at $77,000 after purchasing an additional 794 shares during the period. Finally, Capstone Investment Advisors LLC lifted its holdings in shares of 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 buying an additional 831 shares in the last quarter. 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.