Intellia Therapeutics (NASDAQ:NTLA) Shares Down 5.6% - Should You Sell?

Intellia Therapeutics, Inc. (NASDAQ:NTLA - Get Free Report)'s stock price dropped 5.6% during mid-day trading on Friday . The company traded as low as $6.95 and last traded at $7.03. Approximately 1,073,438 shares changed hands during trading, a decline of 60% from the average daily volume of 2,658,626 shares. The stock had previously closed at $7.45.

Analyst Ratings Changes

Several equities research analysts have commented on the company. JPMorgan Chase & Co. reissued a "neutral" rating and issued a $13.00 target price (down from $45.00) on shares of Intellia Therapeutics in a report on Friday, February 28th. HC Wainwright reiterated a "buy" rating and issued a $30.00 price target on shares of Intellia Therapeutics in a research note on Thursday, May 29th. Wells Fargo & Company cut their price objective on shares of Intellia Therapeutics from $60.00 to $50.00 and set an "overweight" rating on the stock in a research report on Friday, February 28th. Wolfe Research raised shares of Intellia Therapeutics from a "peer perform" rating to an "outperform" rating and set a $21.00 target price for the company in a report on Monday, April 21st. Finally, The Goldman Sachs Group reiterated a "sell" rating and issued a $9.00 target price on shares of Intellia Therapeutics in a research note on Friday, February 28th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $34.95.

Intellia Therapeutics Stock Performance

The stock has a market capitalization of $796.55 million, a P/E ratio of -1.41 and a beta of 2.33. The firm has a fifty day moving average price of $7.91 and a two-hundred day moving average price of $10.18.

Intellia Therapeutics (NASDAQ:NTLA - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported ($1.10) EPS for the quarter, beating analysts' consensus estimates of ($1.26) by $0.16. The firm had revenue of $16.63 million for the quarter, compared to analysts' expectations of $11.39 million. During the same quarter last year, the company posted ($1.12) EPS. The firm's revenue was down 42.6% compared to the same quarter last year. On average, research analysts anticipate that Intellia Therapeutics, Inc. will post -5.07 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Intellia Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the business. GF Fund Management CO. LTD. purchased a new position in shares of Intellia Therapeutics in the fourth quarter worth approximately $25,000. Sterling Capital Management LLC raised its position in Intellia Therapeutics by 866.2% in the fourth quarter. Sterling Capital Management LLC now owns 3,198 shares of the company's stock worth $37,000 after acquiring an additional 2,867 shares during the period. Whipplewood Advisors LLC bought a new position in Intellia Therapeutics in the fourth quarter worth approximately $40,000. Resona Asset Management Co. Ltd. purchased a new position in shares of Intellia Therapeutics during the 4th quarter worth $43,000. Finally, Jones Financial Companies Lllp grew its position in shares of Intellia Therapeutics by 140.9% during the 4th quarter. Jones Financial Companies Lllp now owns 3,898 shares of the company's stock valued at $45,000 after acquiring an additional 2,280 shares during the period. Hedge funds and other institutional investors own 88.77% of the company's stock.

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.