Intellia Therapeutics (NASDAQ:NTLA) Reaches New 1-Year Low – Time to Sell?

Intellia Therapeutics, Inc. (NASDAQ:NTLA)’s share price hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $5.90 and last traded at $6.00, with a volume of 517535 shares. The stock had previously closed at $6.63.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Morgan Stanley lowered shares of Intellia Therapeutics from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $56.00 to $11.00 in a report on Monday, January 27th. Barclays decreased their price target on Intellia Therapeutics from $55.00 to $26.00 and set an “overweight” rating for the company in a report on Friday, February 28th. Truist Financial dropped their price objective 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. Wedbush reissued a “neutral” rating and set a $10.00 price target (down from $14.00) on shares of Intellia Therapeutics in a report on Friday, January 10th. Finally, Oppenheimer cut their price objective on Intellia Therapeutics from $60.00 to $40.00 and set an “outperform” rating for the company in a research note on Monday, January 13th. Two 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $37.56.

Intellia Therapeutics Stock Performance

The firm has a market capitalization of $650.71 million, a PE ratio of -1.16 and a beta of 2.23. The company’s 50-day moving average price is $9.61 and its 200-day moving average price is $13.20.

Hedge Funds Weigh In On Intellia Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wellington Management Group LLP grew its position in shares of Intellia Therapeutics by 8.5% in the 4th quarter. Wellington Management Group LLP now owns 699,814 shares of the company’s stock valued at $8,160,000 after buying an additional 55,051 shares during the last quarter. California State Teachers Retirement System boosted its position in shares of Intellia Therapeutics by 4.1% in the 4th quarter. California State Teachers Retirement System now owns 90,638 shares of the company’s stock valued at $1,057,000 after purchasing an additional 3,596 shares during the period. Polar Asset Management Partners Inc. lifted its stake in Intellia Therapeutics by 1,144.1% in the fourth quarter. Polar Asset Management Partners Inc. now owns 282,400 shares of the company’s stock valued at $3,293,000 after buying an additional 259,700 shares during the last quarter. GF Fund Management CO. LTD. purchased a new position in shares of Intellia Therapeutics during the fourth quarter worth approximately $25,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Intellia Therapeutics by 5.0% during the 4th 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 purchasing an additional 23,173 shares during the last quarter. 88.77% of the stock is owned by institutional investors and hedge funds.

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.