Intellia Therapeutics (NASDAQ:NTLA) Hits New 1-Year Low - Here's Why

Intellia Therapeutics, Inc. (NASDAQ:NTLA - Get Free Report) shares reached a new 52-week low during trading on Tuesday . The stock traded as low as $6.73 and last traded at $6.72, with a volume of 815582 shares. The stock had previously closed at $7.11.

Analyst Ratings Changes

Several equities analysts recently commented on NTLA shares. Morgan Stanley lowered Intellia Therapeutics from an "overweight" rating to an "equal weight" rating and dropped their target price for the company from $56.00 to $11.00 in a report on Monday, January 27th. Chardan Capital lowered their price target on Intellia Therapeutics from $91.00 to $68.00 and set a "buy" rating for the company in a report on Friday, February 28th. Wells Fargo & Company dropped their price objective on Intellia Therapeutics from $60.00 to $50.00 and set an "overweight" rating on the stock in a report on Friday, February 28th. BMO Capital Markets decreased their price objective on Intellia Therapeutics from $70.00 to $50.00 and set an "outperform" rating for the company in a report on Friday, January 10th. Finally, Citigroup raised their target price on shares of Intellia Therapeutics from $12.00 to $14.00 and gave the stock a "neutral" rating in a research report on Friday, February 28th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Intellia Therapeutics has a consensus rating of "Moderate Buy" and an average target price of $37.56.

Intellia Therapeutics Price Performance

The stock has a 50 day moving average of $9.61 and a two-hundred day moving average of $13.33. The stock has a market capitalization of $686.32 million, a PE ratio of -1.22 and a beta of 2.23.

Institutional Trading of Intellia Therapeutics

A number of institutional investors have recently added to or reduced their stakes in NTLA. Wellington Management Group LLP increased its holdings in Intellia Therapeutics by 8.5% in the fourth 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 in the last quarter. California State Teachers Retirement System increased its stake in 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 in the last quarter. Polar Asset Management Partners Inc. raised its holdings in Intellia Therapeutics by 1,144.1% during the fourth quarter. Polar Asset Management Partners Inc. now owns 282,400 shares of the company's stock worth $3,293,000 after purchasing an additional 259,700 shares during the last quarter. GF Fund Management CO. LTD. purchased a new stake in Intellia Therapeutics during the fourth quarter worth $25,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Intellia Therapeutics by 5.0% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 483,185 shares of the company's stock valued at $5,634,000 after purchasing an additional 23,173 shares during the last quarter. 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.