Intellia Therapeutics (NASDAQ:NTLA) Shares Down 5.7% – What’s Next?

Intellia Therapeutics, Inc. (NASDAQ:NTLA)’s stock price dropped 5.7% during trading 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.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Royal Bank of Canada reiterated an “outperform” rating and set a $54.00 price objective on shares of Intellia Therapeutics in a research report on Thursday, September 19th. Wells Fargo & Company lowered their price target on shares of Intellia Therapeutics from $80.00 to $70.00 and set an “overweight” rating on the stock in a research report on Monday. Evercore ISI upgraded shares of Intellia Therapeutics to a “strong-buy” rating in a research report on Friday, August 9th. 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 report on Friday, October 25th. Finally, StockNews.com upgraded shares of Intellia Therapeutics to a “sell” rating in a report on Friday, November 8th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Intellia Therapeutics presently has a consensus rating of “Moderate Buy” and an average target price of $54.94.

Intellia Therapeutics Stock Performance

The stock has a market capitalization of $1.40 billion, a PE ratio of -2.55 and a beta of 1.81. The firm’s 50 day moving average is $18.12 and its two-hundred day moving average is $21.79.

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, beating analysts’ consensus estimates of ($1.37) by $0.03. The company had revenue of $9.10 million during the quarter, compared to analysts’ expectations of $8.28 million. During the same quarter last year, the business posted ($1.38) earnings per share. The company’s revenue for the quarter was down 24.1% on a year-over-year basis. On average, analysts anticipate that Intellia Therapeutics, Inc. will post -5.13 EPS for the current year.

Insider Transactions at Intellia Therapeutics

In related 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 value of $38,248.12. Following the transaction, the chief accounting officer now owns 47,012 shares of the company’s stock, valued at $893,698.12. This represents a 4.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 3.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. SG Americas Securities LLC purchased a new stake in Intellia Therapeutics during the first quarter worth approximately $160,000. Vanguard Group Inc. lifted its position in shares of Intellia Therapeutics by 8.9% during the 1st quarter. Vanguard Group Inc. now owns 9,093,712 shares of the company’s stock worth $250,168,000 after buying an additional 746,263 shares during the last quarter. EntryPoint Capital LLC boosted its holdings in shares of Intellia Therapeutics by 61.1% in the 1st quarter. EntryPoint Capital LLC now owns 4,122 shares of the company’s stock valued at $113,000 after buying an additional 1,563 shares in the last quarter. Axxcess Wealth Management LLC grew its position in shares of Intellia Therapeutics by 6.5% in the 1st quarter. Axxcess Wealth Management LLC now owns 16,602 shares of the company’s stock valued at $457,000 after buying an additional 1,010 shares during the last quarter. Finally, Bayesian Capital Management LP acquired a new stake in Intellia Therapeutics during the 1st quarter worth $303,000. 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.