Intellia Therapeutics (NASDAQ:NTLA) Sets New 52-Week Low – What’s Next?

Intellia Therapeutics, Inc. (NASDAQ:NTLA)’s stock price hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $6.73 and last traded at $6.72, with a volume of 815582 shares changing hands. The stock had previously closed at $7.11.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on NTLA. Truist Financial dropped their price target on shares of Intellia Therapeutics from $90.00 to $50.00 and set a “buy” rating on the stock in a research note on Tuesday, March 4th. Oppenheimer reduced their price target on Intellia Therapeutics from $60.00 to $40.00 and set an “outperform” rating for the company in a report on Monday, January 13th. JPMorgan Chase & Co. reaffirmed 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, February 28th. Citigroup boosted their target price on shares of Intellia Therapeutics from $12.00 to $14.00 and gave the stock a “neutral” rating in a research report on Friday, February 28th. Finally, StockNews.com raised shares of Intellia Therapeutics to a “sell” rating in a research note on Monday, March 3rd. Two research analysts have rated the stock with a sell rating, six have given a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Intellia Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $37.56.

Intellia Therapeutics Trading Up 9.6 %

The firm’s fifty day moving average price is $9.79 and its 200-day moving average price is $13.48. The company has a market cap of $755.67 million, a P/E ratio of -1.34 and a beta of 2.23.

Insider Buying and Selling at Intellia Therapeutics

In related news, CEO John M. Leonard sold 26,807 shares of the company’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $12.18, for a total value of $326,509.26. Following the completion of the transaction, the chief executive officer now directly 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 is available through this hyperlink. Insiders sold a total of 28,444 shares of company stock valued at $345,862 in the last quarter. Corporate insiders own 3.20% of the company’s stock.

Institutional Investors Weigh In On Intellia Therapeutics

A number of institutional investors have recently bought and sold shares of NTLA. Charles Schwab Investment Management Inc. increased its stake in Intellia Therapeutics by 4.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 827,545 shares of the company’s stock valued at $17,006,000 after acquiring an additional 37,714 shares during the period. D.A. Davidson & CO. raised its holdings in shares of Intellia Therapeutics by 34.3% in the 3rd quarter. D.A. Davidson & CO. now owns 16,250 shares of the company’s stock worth $334,000 after buying an additional 4,150 shares in the last quarter. FMR LLC lifted its position in shares of Intellia Therapeutics by 5.0% during the 3rd quarter. FMR LLC now owns 2,339,522 shares of the company’s stock worth $48,077,000 after buying an additional 111,104 shares during the period. BNP Paribas Financial Markets boosted its stake in Intellia Therapeutics by 88.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 246,362 shares of the company’s stock valued at $5,063,000 after buying an additional 115,351 shares in the last quarter. Finally, Verition Fund Management LLC grew its position in Intellia Therapeutics by 116.3% in the third quarter. Verition Fund Management LLC now owns 94,426 shares of the company’s stock valued at $1,940,000 after acquiring an additional 50,763 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.