Intellia Therapeutics (NASDAQ:NTLA) CAO Michael Dube Sells 1,864 Shares of Stock

Key Points

• Intellia Therapeutics’ chief accounting officer Michael Dube sold 1,864 shares at an average price of $12.43, generating $23,169.52. The sale covered tax-withholding obligations tied to vested equity awards, reducing his ownership by 2.79%.
• NTLA recently traded at $12.37, near its 50-day average of $12.10 and below its 200-day average of $13.23. The company reported a quarterly loss of $0.80 per share and revenue of $7.66 million, down 46.4% year over year.
• Institutional investors own 88.77% of the stock, while analysts’ overall rating is “Hold” with an average price target of $20.72, despite ratings ranging from “Strong Buy” to “Strong Sell.”

Intellia Therapeutics, Inc. (NASDAQ:NTLA - Get Free Report) CAO Michael Dube sold 1,864 shares of the firm's stock in a transaction that occurred on Friday, October 2nd. The shares were sold at an average price of $12.43, for a total transaction of $23,169.52. Following the completion of the sale, the chief accounting officer owned 65,022 shares in the company, valued at approximately $808,223.46. The trade was a 2.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Intellia Therapeutics Price Performance

NTLA stock traded down $0.38 during trading on Tuesday, reaching $12.37. 7,941,147 shares of the company were exchanged, compared to its average volume of 5,123,875. The company has a market capitalization of $1.73 billion, a price-to-earnings ratio of -3.68 and a beta of 1.80. The company has a 50-day moving average of $12.10 and a two-hundred day moving average of $13.23. Intellia Therapeutics, Inc. has a twelve month low of $7.95 and a twelve month high of $28.25.

Intellia Therapeutics (NASDAQ:NTLA - Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported ($0.80) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.80). The firm had revenue of $7.66 million for the quarter, compared to analyst estimates of $12.98 million. Intellia Therapeutics had a negative net margin of 672.16% and a negative return on equity of 57.79%. The company's quarterly revenue was down 46.4% on a year-over-year basis. During the same quarter last year, the business posted ($0.98) earnings per share. On average, analysts forecast that Intellia Therapeutics, Inc. will post -3.21 EPS for the current year.

Institutional Trading of Intellia Therapeutics

Large investors have recently bought and sold shares of the business. BlackRock Inc. bought a new stake in shares of Intellia Therapeutics during the 2nd quarter valued at about $260,721,000. Dimensional Fund Advisors LP boosted its holdings in shares of Intellia Therapeutics by 20.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,318,110 shares of the company's stock worth $29,709,000 after buying an additional 386,261 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in shares of Intellia Therapeutics during the 1st quarter valued at $17,913,000. Bank of America Corp DE boosted its stake in Intellia Therapeutics by 11.2% during the first quarter. Bank of America Corp DE now owns 1,381,703 shares of the company's stock worth $17,713,000 after acquiring an additional 139,325 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Intellia Therapeutics in the second quarter worth $15,210,000. 88.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have commented on NTLA. Weiss Ratings reiterated a "sell (d-)" rating on shares of Intellia Therapeutics in a research report on Friday, July 17th. Wolfe Research downgraded Intellia Therapeutics from a "peer perform" rating to an "underperform" rating and set a $9.00 price objective for the company. in a research note on Wednesday, July 15th. Barclays began coverage on shares of Intellia Therapeutics in a report on Tuesday. They issued an "underweight" rating and a $8.00 price objective for the company. Wall Street Zen lowered shares of Intellia Therapeutics from a "sell" rating to a "strong sell" rating in a report on Saturday, August 8th. Finally, Citizens Jmp restated a "market outperform" rating and issued a $30.00 price target on shares of Intellia Therapeutics in a research report on Wednesday, September 9th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, eight have given a Hold rating and five have assigned a Sell rating to the stock. According to data from MarketBeat.com, Intellia Therapeutics presently has an average rating of "Hold" and an average price target of $20.72.

About Intellia Therapeutics

Intellia Therapeutics, Inc is a biotechnology company focused on developing genome-editing therapies using CRISPR/Cas9 technology. The company is working to create treatments that can directly modify disease-causing genes, including through in vivo approaches in which the editing machinery is delivered into a patient's body.

Its pipeline has included NTLA-2001, an investigational therapy designed to reduce production of transthyretin for the treatment of transthyretin amyloidosis, and NTLA-2002, an investigational program targeting kallikrein for hereditary angioedema.

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