Intellia Therapeutics (NASDAQ:NTLA) Trading Down 6.4% - What's Next?

Intellia Therapeutics, Inc. (NASDAQ:NTLA - Get Free Report)'s share price was down 6.4% during trading on Friday . The company traded as low as $9.03 and last traded at $8.98. Approximately 1,581,808 shares changed hands during mid-day trading, a decline of 45% from the average daily volume of 2,879,468 shares. The stock had previously closed at $9.60.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Citigroup reduced their price objective on Intellia Therapeutics from $14.00 to $10.00 and set a "neutral" rating on the stock in a research note on Friday, May 9th. Wells Fargo & Company cut their price objective on Intellia Therapeutics from $60.00 to $50.00 and set an "overweight" rating on the stock in a research note on Friday, February 28th. HC Wainwright reaffirmed a "buy" rating and issued a $30.00 price target on shares of Intellia Therapeutics in a report on Monday, June 16th. Guggenheim dropped their target price on Intellia Therapeutics from $55.00 to $45.00 and set a "buy" rating on the stock in a research report on Monday, May 12th. Finally, Canaccord Genuity Group decreased their price target on Intellia Therapeutics from $74.00 to $54.00 and set a "buy" rating for the company in a research note on Tuesday, June 3rd. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Intellia Therapeutics presently has a consensus rating of "Moderate Buy" and an average target price of $34.95.

Intellia Therapeutics Stock Up 0.3%

The stock has a market cap of $956.04 million, a P/E ratio of -1.76 and a beta of 2.15. The business's 50 day simple moving average is $8.34 and its two-hundred day simple moving average is $9.60.

Intellia Therapeutics (NASDAQ:NTLA - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($1.10) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($1.26) by $0.16. Intellia Therapeutics had a negative net margin of 1,154.10% and a negative return on equity of 56.06%. The firm had revenue of $16.63 million for the quarter, compared to the consensus estimate of $11.39 million. During the same quarter in the previous year, the company earned ($1.12) EPS. The company's revenue for the quarter was down 42.6% on a year-over-year basis. As a group, research analysts forecast that Intellia Therapeutics, Inc. will post -5.07 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Voya Investment Management LLC lifted its stake in Intellia Therapeutics by 621.5% in the first quarter. Voya Investment Management LLC now owns 208,009 shares of the company's stock valued at $1,479,000 after purchasing an additional 179,180 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Intellia Therapeutics by 8.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 521,706 shares of the company's stock worth $3,709,000 after acquiring an additional 38,521 shares during the last quarter. Woodline Partners LP purchased a new stake in Intellia Therapeutics in the first quarter valued at approximately $171,000. Arete Wealth Advisors LLC lifted its holdings in shares of Intellia Therapeutics by 21.8% during the 1st quarter. Arete Wealth Advisors LLC now owns 12,512 shares of the company's stock worth $89,000 after acquiring an additional 2,240 shares during the last quarter. Finally, Granahan Investment Management LLC boosted its holdings in shares of Intellia Therapeutics by 55.3% in the 1st quarter. Granahan Investment Management LLC now owns 475,946 shares of the company's stock worth $3,384,000 after purchasing an additional 169,436 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.