Intellia Therapeutics (NASDAQ:NTLA) Reaches New 12-Month Low After Analyst Downgrade

Intellia Therapeutics, Inc. (NASDAQ:NTLA) shares hit a new 52-week low during trading on Friday after BMO Capital Markets lowered their price target on the stock from $70.00 to $50.00. BMO Capital Markets currently has an outperform rating on the stock. Intellia Therapeutics traded as low as $10.35 and last traded at $10.56, with a volume of 1506684 shares trading hands. The stock had previously closed at $12.02.

NTLA has been the subject of a number of other research reports. The Goldman Sachs Group decreased their target price on shares of Intellia Therapeutics from $31.00 to $20.00 and set a “neutral” rating for the company in a research report on Friday, October 25th. Wells Fargo & Company reduced their price objective on shares of Intellia Therapeutics from $70.00 to $60.00 and set an “overweight” rating for the company in a research report on Friday. Canaccord Genuity Group reiterated a “buy” rating and set a $90.00 target price on shares of Intellia Therapeutics in a research report on Tuesday, November 19th. StockNews.com raised Intellia Therapeutics to a “sell” rating in a research report on Friday, November 8th. Finally, Citigroup decreased their price objective on shares of Intellia Therapeutics from $25.00 to $19.00 and set a “neutral” rating for the company in a research note on Friday, October 25th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $53.06.

Insiders Place Their Bets

In other news, CEO John M. Leonard sold 26,807 shares of the firm’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $12.18, for a total value of $326,509.26. Following the completion of 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 trade represents a 2.77 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders sold a total of 28,735 shares of company stock valued at $349,909 over the last quarter. 3.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. EverSource Wealth Advisors LLC raised its holdings in Intellia Therapeutics by 763.5% in the second quarter. EverSource Wealth Advisors LLC now owns 1,753 shares of the company’s stock worth $39,000 after buying an additional 1,550 shares during the last quarter. Eastern Bank purchased a new stake in shares of Intellia Therapeutics during the 3rd quarter valued at about $41,000. Values First Advisors Inc. purchased a new stake in shares of Intellia Therapeutics during the 3rd quarter valued at about $54,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Intellia Therapeutics by 27.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,674 shares of the company’s stock worth $77,000 after purchasing an additional 794 shares during the period. Finally, KBC Group NV boosted its holdings in shares of Intellia Therapeutics by 37.3% in the third quarter. KBC Group NV now owns 3,753 shares of the company’s stock worth $77,000 after buying an additional 1,020 shares during the last quarter. Hedge funds and other institutional investors own 88.77% of the company’s stock.

Intellia Therapeutics Price Performance

The company has a market capitalization of $1.05 billion, a P/E ratio of -1.90 and a beta of 1.83. The firm’s 50-day moving average is $13.87 and its 200-day moving average is $19.10.

Intellia Therapeutics (NASDAQ:NTLA) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($1.34) EPS for the quarter, topping the consensus estimate 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. The company’s revenue for the quarter was down 24.1% on a year-over-year basis. During the same quarter last year, the company earned ($1.38) earnings per share. As a group, analysts forecast that Intellia Therapeutics, Inc. will post -5.12 EPS for the current fiscal year.

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.