Intellia Therapeutics (NASDAQ:NTLA) Sets New 12-Month Low – Here’s What Happened

Intellia Therapeutics, Inc. (NASDAQ:NTLA)’s share price reached a new 52-week low on Thursday . The stock traded as low as $9.51 and last traded at $9.54, with a volume of 247828 shares traded. The stock had previously closed at $9.71.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Wedbush reiterated a “neutral” rating and set a $10.00 price objective (down previously from $14.00) on shares of Intellia Therapeutics in a research note on Friday, January 10th. Barclays decreased their target price on shares of Intellia Therapeutics from $76.00 to $55.00 and set an “overweight” rating for the company in a report on Friday, November 8th. Wells Fargo & Company cut their price target on shares of Intellia Therapeutics from $70.00 to $60.00 and set an “overweight” rating on the stock in a report on Friday, January 10th. The Goldman Sachs Group decreased their price objective on shares of Intellia Therapeutics from $19.00 to $12.00 and set a “neutral” rating for the company in a report on Tuesday. Finally, Chardan Capital increased their target price on Intellia Therapeutics from $88.00 to $91.00 and gave the company a “buy” rating in a research note on Monday, November 18th. One research 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. According to MarketBeat.com, Intellia Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $51.06.

Intellia Therapeutics Trading Up 0.8 %

The firm has a market cap of $967.58 million, a PE ratio of -1.75 and a beta of 1.83. The company’s 50 day moving average price is $13.15 and its two-hundred day moving average price is $18.53.

Intellia Therapeutics (NASDAQ:NTLA) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($1.34) EPS for the quarter, topping analysts’ consensus estimates 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. During the same quarter in the previous year, the company earned ($1.38) EPS. The business’s quarterly revenue was down 24.1% compared to the same quarter last year. Equities research analysts expect that Intellia Therapeutics, Inc. will post -5.11 earnings per share for the current fiscal year.

Insider Buying and Selling at Intellia Therapeutics

In other news, CEO John M. Leonard sold 26,807 shares of the business’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $12.18, for a total value of $326,509.26. Following the transaction, the chief executive officer now directly owns 941,115 shares in the company, valued at $11,462,780.70. The trade was a 2.77 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 28,735 shares of company stock valued at $349,909 over the last 90 days. 3.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. State Street Corp grew its position in shares of Intellia Therapeutics by 17.9% during the third quarter. State Street Corp now owns 5,143,534 shares of the company’s stock valued at $105,700,000 after purchasing an additional 780,754 shares in the last quarter. Patient Square Capital LP purchased a new stake in shares of Intellia Therapeutics during the 3rd quarter worth approximately $2,642,000. Dimensional Fund Advisors LP grew its holdings in shares of Intellia Therapeutics by 8.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,324,561 shares of the company’s stock valued at $29,648,000 after purchasing an additional 98,865 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position 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 worth $17,006,000 after purchasing an additional 37,714 shares during the last quarter. Finally, Verition Fund Management LLC raised its stake in Intellia Therapeutics by 116.3% during the third quarter. Verition Fund Management LLC now owns 94,426 shares of the company’s stock valued at $1,940,000 after purchasing an additional 50,763 shares in the last quarter. 88.77% of the stock is currently owned by institutional investors.

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.