Intellia Therapeutics (NASDAQ:NTLA) Shares Down 6.4% - Time to Sell?

Key Points

• Intellia Therapeutics shares fell 6.4% to about $12.44, with trading volume significantly below average. The company has a market capitalization of approximately $1.79 billion and remains unprofitable.
• Analyst sentiment is mixed, with a consensus rating of “Hold” and an average price target of $21.15. Recent targets range from $13 to $49, including several Buy or Outperform ratings.
• Intellia reported a quarterly loss of $0.80 per share, in line with expectations, but revenue of $7.66 million missed estimates of $12.98 million and declined 46.4% year over year. The clinical-stage biotechnology company is developing CRISPR/Cas9 genome-editing treatments, including a lead program for transthyretin amyloidosis.

Shares of Intellia Therapeutics, Inc. (NASDAQ:NTLA - Get Free Report) traded down 6.4% during trading on Thursday . The stock traded as low as $12.53 and last traded at $12.4360. 677,089 shares were traded during mid-day trading, a decline of 87% from the average session volume of 5,288,615 shares. The stock had previously closed at $13.28.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on NTLA. Canaccord Genuity Group reiterated a "buy" rating and set a $49.00 price target on shares of Intellia Therapeutics in a research note on Tuesday, June 16th. Citizens Jmp reissued a "market outperform" rating and set a $30.00 price target on shares of Intellia Therapeutics in a report on Monday, June 15th. Leerink Partners set a $35.00 price objective on shares of Intellia Therapeutics in a research report on Monday, April 27th. Robert W. Baird boosted their target price on Intellia Therapeutics from $7.00 to $13.00 and gave the stock a "neutral" rating in a research report on Monday, April 27th. Finally, Evercore raised Intellia Therapeutics from a "hold" rating to an "outperform" rating and set a $24.00 target price for the company in a research note on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eight have assigned a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat, Intellia Therapeutics presently has an average rating of "Hold" and a consensus target price of $21.15.

Intellia Therapeutics Trading Down 4.0%

The stock's 50 day moving average price is $13.45 and its two-hundred day moving average price is $13.36. The firm has a market capitalization of $1.79 billion, a price-to-earnings ratio of -3.79 and a beta of 1.81.

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

Insider Transactions at Intellia Therapeutics

In other news, EVP Edward J. Dulac III sold 4,677 shares of Intellia Therapeutics stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $18.00, for a total transaction of $84,186.00. Following the completion of the sale, the executive vice president directly owned 156,286 shares in the company, valued at approximately $2,813,148. This trade represents a 2.91% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Michael P. Dube sold 2,641 shares of Intellia Therapeutics stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $16.78, for a total transaction of $44,315.98. Following the sale, the chief accounting officer owned 66,886 shares of the company's stock, valued at approximately $1,122,347.08. The trade was a 3.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 3.50% of the company's stock.

Hedge Funds Weigh In On Intellia Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the company. Comerica Bank grew its holdings in Intellia Therapeutics by 45.8% in the fourth quarter. Comerica Bank now owns 2,869 shares of the company's stock valued at $26,000 after purchasing an additional 901 shares during the last quarter. Headlands Technologies LLC acquired a new position in shares of Intellia Therapeutics during the 2nd quarter worth $26,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Intellia Therapeutics in the 3rd quarter worth about $30,000. Freestone Grove Partners LP purchased a new stake in shares of Intellia Therapeutics in the 2nd quarter worth about $33,000. Finally, Advisory Services Network LLC purchased a new stake in shares of Intellia Therapeutics in the 3rd quarter worth about $33,000. 88.77% of the stock is owned by institutional investors and hedge funds.

Intellia Therapeutics Company Profile

Intellia Therapeutics, Inc NASDAQ: NTLA is a clinical‐stage biotechnology company focused on developing potentially curative genome editing therapies using the CRISPR/Cas9 platform. The company's research spans both in vivo and ex vivo applications of CRISPR/Cas9, aiming to correct or disable disease‐causing genes with a single administration. Intellia's lead in vivo program targets transthyretin amyloidosis (ATTR) by delivering CRISPR/Cas9 machinery directly to the liver, while additional preclinical efforts pursue treatments for hemophilia A, hereditary angioedema and other genetic disorders.

Beyond its in vivo pipeline, Intellia collaborates with strategic partners to extend the impact of its genome editing approach.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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