Intellia Therapeutics (NASDAQ:NTLA) Shares Down 5.9% - Here's What Happened

Key Points

• Intellia Therapeutics shares fell by 5.9%, closing at $15.63, with a significant drop in trading volume of 69% from the average.
• Analysts maintain a consensus rating of "Moderate Buy" for NTLA, with an average target price of $27.39, despite a recent downgrade from some brokerages.
• The company's quarterly earnings beat estimates with $14.25 million in revenue, a year-over-year increase of 104.3%, although it reported a loss of ($0.99) EPS.

Intellia Therapeutics, Inc. (NASDAQ:NTLA - Get Free Report)'s stock price fell 5.9% during trading on Friday . The company traded as low as $15.65 and last traded at $15.63. 1,343,067 shares traded hands during mid-day trading, a decline of 69% from the average session volume of 4,313,402 shares. The stock had previously closed at $16.61.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on NTLA. Wall Street Zen raised shares of Intellia Therapeutics from a "sell" rating to a "hold" rating in a report on Saturday, September 6th. Wells Fargo & Company reissued an "overweight" rating and issued a $45.00 price target (down previously from $50.00) on shares of Intellia Therapeutics in a report on Friday, August 8th. JMP Securities reissued a "market perform" rating on shares of Intellia Therapeutics in a report on Friday, September 19th. Guggenheim reaffirmed a "buy" rating and issued a $14.00 price objective on shares of Intellia Therapeutics in a research note on Wednesday, August 13th. Finally, Wedbush reaffirmed a "neutral" rating and issued a $7.00 price objective on shares of Intellia Therapeutics in a research note on Monday, June 16th. Eleven analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $27.39.

Intellia Therapeutics Trading Down 3.6%

The firm has a market cap of $1.72 billion, a P/E ratio of -3.41 and a beta of 2.28. The business's fifty day simple moving average is $12.27 and its 200-day simple moving average is $9.94.

Intellia Therapeutics (NASDAQ:NTLA - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported ($0.99) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($1.03) by $0.04. The business had revenue of $14.25 million for the quarter, compared to analyst estimates of $12.26 million. Intellia Therapeutics had a negative net margin of 908.48% and a negative return on equity of 57.48%. The company's revenue was up 104.3% on a year-over-year basis. During the same quarter last year, the firm earned ($1.52) EPS. Analysts anticipate that Intellia Therapeutics, Inc. will post -5.07 earnings per share for the current year.

Insider Transactions at Intellia Therapeutics

In other news, EVP Edward J. Dulac III sold 7,462 shares of Intellia Therapeutics stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $14.02, for a total transaction of $104,617.24. Following the sale, the executive vice president owned 106,062 shares of the company's stock, valued at approximately $1,486,989.24. The trade was a 6.57% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director William J. Chase acquired 100,000 shares of the company's stock in a transaction that occurred on Wednesday, August 20th. The shares were acquired at an average cost of $10.03 per share, for a total transaction of $1,003,000.00. Following the purchase, the director directly owned 134,693 shares of the company's stock, valued at $1,350,970.79. This represents a 288.24% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold a total of 12,534 shares of company stock worth $153,837 in the last ninety days. Insiders own 3.10% of the company's stock.

Institutional Investors Weigh In On Intellia Therapeutics

Several hedge funds have recently bought and sold shares of the business. Benjamin Edwards Inc. boosted its stake in Intellia Therapeutics by 1.8% during the second quarter. Benjamin Edwards Inc. now owns 63,034 shares of the company's stock worth $591,000 after acquiring an additional 1,126 shares in the last quarter. HighTower Advisors LLC boosted its stake in Intellia Therapeutics by 8.2% during the first quarter. HighTower Advisors LLC now owns 16,921 shares of the company's stock worth $120,000 after acquiring an additional 1,282 shares in the last quarter. Johnson Financial Group Inc. boosted its stake in Intellia Therapeutics by 24.8% during the second quarter. Johnson Financial Group Inc. now owns 6,988 shares of the company's stock worth $66,000 after acquiring an additional 1,388 shares in the last quarter. Harbour Investments Inc. boosted its stake in Intellia Therapeutics by 27.2% during the second quarter. Harbour Investments Inc. now owns 6,633 shares of the company's stock worth $62,000 after acquiring an additional 1,419 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in Intellia Therapeutics by 13.9% during the second quarter. Ameriprise Financial Inc. now owns 11,803 shares of the company's stock worth $111,000 after acquiring an additional 1,443 shares in the last quarter. 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.

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