Intellia Therapeutics (NASDAQ:NTLA) Shares Down 7.1% - Here's Why

Key Points

• Intellia Therapeutics shares fell 7.1% on Monday, with the stock trading as low as $13.35 after closing at $14.22 the prior session. Trading volume was far below average, with about 978,475 shares changing hands versus the typical 5.6 million.
• Analyst sentiment remains mixed: firms recently raised or maintained targets ranging from $9 to $49, and the stock carries an overall Hold consensus with an average target price of $20.67. Despite that, the broad range of ratings shows uncertainty around the biotech name.
• Intellia reported a smaller-than-expected quarterly loss and better-than-expected revenue in its latest earnings release, but the company still posted heavy losses and is expected to remain unprofitable this year. Recent insider selling by two executives also added attention to the stock.

Intellia Therapeutics, Inc. (NASDAQ:NTLA - Get Free Report) fell 7.1% during trading on Monday . The stock traded as low as $13.35 and last traded at $13.2090. Approximately 978,475 shares changed hands during mid-day trading, a decline of 83% from the average session volume of 5,609,454 shares. The stock had previously closed at $14.22.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Leerink Partners set a $35.00 price objective on shares of Intellia Therapeutics in a research note on Monday, April 27th. Sanford C. Bernstein upped their target price on Intellia Therapeutics from $13.00 to $17.00 and gave the company a "market perform" rating in a report on Wednesday, May 13th. Morgan Stanley increased their price target on Intellia Therapeutics from $11.00 to $15.00 and gave the stock an "equal weight" rating in a research report on Monday, April 27th. Canaccord Genuity Group reissued a "buy" rating and issued a $49.00 price target on shares of Intellia Therapeutics in a report on Tuesday, June 16th. Finally, The Goldman Sachs Group boosted their price objective on Intellia Therapeutics from $8.00 to $9.00 and gave the company a "sell" rating in a research report on Tuesday, April 28th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, ten have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, Intellia Therapeutics has an average rating of "Hold" and a consensus target price of $20.67.

Intellia Therapeutics Price Performance

The firm has a market cap of $1.83 billion, a price-to-earnings ratio of -3.71 and a beta of 1.77. The firm's fifty day moving average is $14.40 and its two-hundred day moving average is $13.32.

Intellia Therapeutics (NASDAQ:NTLA - Get Free Report) last released its earnings results on Monday, May 11th. The company reported ($0.81) EPS for the quarter, beating the consensus estimate of ($0.92) by $0.11. Intellia Therapeutics had a negative net margin of 597.04% and a negative return on equity of 57.47%. The firm had revenue of $15.05 million for the quarter, compared to analysts' expectations of $13.81 million. During the same quarter last year, the company earned ($1.10) EPS. On average, equities analysts forecast that Intellia Therapeutics, Inc. will post -3.18 earnings per share for the current fiscal year.

Insider Activity at Intellia Therapeutics

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of NTLA. Comerica Bank raised its position in Intellia Therapeutics by 45.8% in the fourth quarter. Comerica Bank now owns 2,869 shares of the company's stock worth $26,000 after acquiring an additional 901 shares in the last quarter. Headlands Technologies LLC bought a new position in shares of Intellia Therapeutics during the 2nd quarter valued at about $26,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Intellia Therapeutics during the 3rd quarter valued at about $30,000. Advisory Services Network LLC bought a new position in shares of Intellia Therapeutics during the 3rd quarter valued at about $33,000. Finally, Spire Wealth Management acquired a new position in shares of Intellia Therapeutics in the 4th quarter worth approximately $37,000. Institutional investors own 88.77% of the company's stock.

About Intellia Therapeutics

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.

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