Intellia Therapeutics (NASDAQ:NTLA) Stock Price Down 6.7% – Time to Sell?

Intellia Therapeutics, Inc. (NASDAQ:NTLA) traded down 6.7% on Tuesday . The company traded as low as $8.85 and last traded at $8.83. 890,042 shares were traded during mid-day trading, a decline of 73% from the average session volume of 3,316,285 shares. The stock had previously closed at $9.46.

Analyst Ratings Changes

A number of research firms recently commented on NTLA. Barclays decreased their price objective on Intellia Therapeutics from $55.00 to $26.00 and set an “overweight” rating on the stock in a research note on Friday, February 28th. Truist Financial lowered their price target on shares of Intellia Therapeutics from $90.00 to $50.00 and set a “buy” rating for the company in a report on Tuesday, March 4th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $13.00 price objective (down previously from $45.00) on shares of Intellia Therapeutics in a research note on Friday, February 28th. Oppenheimer lowered their target price on shares of Intellia Therapeutics from $60.00 to $40.00 and set an “outperform” rating for the company in a research note on Monday, January 13th. Finally, Morgan Stanley lowered Intellia Therapeutics from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $56.00 to $11.00 in a research note on Monday, January 27th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $37.56.

Intellia Therapeutics Price Performance

The stock has a market capitalization of $962.71 million, a price-to-earnings ratio of -1.71 and a beta of 1.97. The firm’s fifty day moving average is $10.57 and its 200-day moving average is $14.98.

Insider Activity

In related news, CEO John M. Leonard sold 26,807 shares of the company’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 sale, the chief executive officer now directly owns 941,115 shares of the company’s stock, valued at approximately $11,462,780.70. This represents a 2.77 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In the last 90 days, insiders have sold 29,000 shares of company stock worth $352,551. 3.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Intellia Therapeutics

A number of hedge funds have recently added to or reduced their stakes in the business. Regeneron Pharmaceuticals Inc. acquired a new stake in shares of Intellia Therapeutics during the 4th quarter worth approximately $43,177,000. Voloridge Investment Management LLC grew its position in shares of Intellia Therapeutics by 226.8% during the fourth quarter. Voloridge Investment Management LLC now owns 1,526,994 shares of the company’s stock worth $17,805,000 after acquiring an additional 1,059,751 shares during the last quarter. Contrarius Group Holdings Ltd acquired a new stake in shares of Intellia Therapeutics in the 4th quarter worth about $11,798,000. Two Sigma Advisers LP lifted its position in Intellia Therapeutics by 94.5% in the 4th quarter. Two Sigma Advisers LP now owns 1,998,317 shares of the company’s stock valued at $23,300,000 after purchasing an additional 970,700 shares during the last quarter. Finally, Two Sigma Investments LP boosted its stake in Intellia Therapeutics by 88.1% during the 4th quarter. Two Sigma Investments LP now owns 1,843,743 shares of the company’s stock valued at $21,498,000 after purchasing an additional 863,363 shares during the period. Institutional investors and hedge funds own 88.77% of the company’s stock.

About Intellia Therapeutics

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.