Intellia Therapeutics (NASDAQ:NTLA) Trading Down 9.6% – Should You Sell?

Intellia Therapeutics, Inc. (NASDAQ:NTLA)’s share price traded down 9.6% on Monday . The stock traded as low as $7.17 and last traded at $7.30. 770,895 shares were traded during mid-day trading, a decline of 65% from the average session volume of 2,185,823 shares. The stock had previously closed at $8.07.

Analyst Ratings Changes

Several brokerages recently issued reports on NTLA. StockNews.com raised Intellia Therapeutics to a “sell” rating in a research report on Monday, March 3rd. Barclays reduced their price objective on shares of 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 dropped their target price on shares of Intellia Therapeutics from $90.00 to $50.00 and set a “buy” rating on the stock in a report on Tuesday, March 4th. Wells Fargo & Company lowered their price objective on Intellia Therapeutics from $60.00 to $50.00 and set an “overweight” rating for the company in a research report on Friday, February 28th. Finally, Chardan Capital decreased their target price on Intellia Therapeutics from $91.00 to $68.00 and set a “buy” rating for the company in a research note on Friday, February 28th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Intellia Therapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $37.56.

Intellia Therapeutics Price Performance

The firm has a market capitalization of $737.66 million, a PE ratio of -1.31 and a beta of 1.97. The company’s fifty day simple moving average is $9.98 and its 200 day simple moving average is $13.72.

Insiders Place Their Bets

In other news, CEO John M. Leonard sold 26,807 shares of the company’s stock in a transaction dated 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 in the company, valued at $11,462,780.70. This represents a 2.77 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders sold a total of 29,000 shares of company stock worth $352,551 in the last quarter. 3.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Intellia Therapeutics

Several hedge funds have recently bought and sold shares of NTLA. State Street Corp increased its position in shares of Intellia Therapeutics by 17.9% in the third quarter. State Street Corp now owns 5,143,534 shares of the company’s stock worth $105,700,000 after purchasing an additional 780,754 shares during the last quarter. Hennion & Walsh Asset Management Inc. grew its position in Intellia Therapeutics by 125.2% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 120,997 shares of the company’s stock worth $1,411,000 after acquiring an additional 67,276 shares during the last quarter. Patient Square Capital LP purchased a new position in Intellia Therapeutics in the 3rd quarter worth approximately $2,642,000. Charles Schwab Investment Management Inc. lifted 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 valued at $17,006,000 after purchasing an additional 37,714 shares during the last quarter. Finally, Avanza Fonder AB bought a new position in shares of Intellia Therapeutics in the fourth quarter worth approximately $421,000. Hedge funds and other institutional investors own 88.77% of the company’s stock.

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.