Intellia Therapeutics (NASDAQ:NTLA) Hits New 52-Week Low on Analyst Downgrade

Intellia Therapeutics, Inc. (NASDAQ:NTLA) reached a new 52-week low on Tuesday after Truist Financial lowered their price target on the stock from $90.00 to $50.00. Truist Financial currently has a buy rating on the stock. Intellia Therapeutics traded as low as $8.36 and last traded at $8.58, with a volume of 1281108 shares trading hands. The stock had previously closed at $9.45.

Several other research firms have also commented on NTLA. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $13.00 price objective (down previously from $45.00) on shares of Intellia Therapeutics in a research report on Friday. William Blair reissued a “neutral” rating and set a $14.00 price objective on shares of Intellia Therapeutics in a research note on Monday, November 18th. Oppenheimer cut their target price on Intellia Therapeutics from $60.00 to $40.00 and set an “outperform” rating on the stock in a research report on Monday, January 13th. StockNews.com raised shares of Intellia Therapeutics to a “sell” rating in a research note on Monday. Finally, Chardan Capital reduced 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. Two research analysts have rated the stock with a sell rating, six have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $38.00.

Insider Activity

In other Intellia Therapeutics news, CEO John M. Leonard sold 26,807 shares of the 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. This represents a 2.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold 29,000 shares of company stock worth $352,551 in the last ninety days. Company insiders own 3.20% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in NTLA. Polar Asset Management Partners Inc. increased its position in shares of Intellia Therapeutics by 1,144.1% during the fourth quarter. Polar Asset Management Partners Inc. now owns 282,400 shares of the company’s stock worth $3,293,000 after purchasing an additional 259,700 shares in the last quarter. GF Fund Management CO. LTD. acquired a new stake in shares of Intellia Therapeutics in the fourth quarter valued at about $25,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Intellia Therapeutics by 5.0% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 483,185 shares of the company’s stock worth $5,634,000 after buying an additional 23,173 shares in the last quarter. Voloridge Investment Management LLC raised its holdings in Intellia Therapeutics by 226.8% in the 4th quarter. Voloridge Investment Management LLC now owns 1,526,994 shares of the company’s stock valued at $17,805,000 after acquiring an additional 1,059,751 shares during the last quarter. Finally, Vestal Point Capital LP purchased a new stake in shares of Intellia Therapeutics in the fourth quarter valued at approximately $6,122,000. Hedge funds and other institutional investors own 88.77% of the company’s stock.

Intellia Therapeutics Stock Down 4.0 %

The stock has a 50-day moving average of $10.80 and a 200 day moving average of $15.46. The stock has a market cap of $939.42 million, a PE ratio of -1.67 and a beta of 1.97.

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.