Intellia Therapeutics (NASDAQ:NTLA) Stock Price Down 7.3% After Analyst Downgrade

Key Points

• Intellia Therapeutics' shares fell by 7.3% after HC Wainwright downgraded its price target from $30.00 to $25.00, despite maintaining a buy rating on the stock.
• Insider selling was noted, with EVP Edward J. Dulac III selling 7,462 shares for over $104,000, resulting in a 6.57% decrease in his position.
• The company reported a 104.3% year-over-year revenue increase, achieving $14.25 million against an expected $12.26 million in revenue for the quarter.

Intellia Therapeutics, Inc. (NASDAQ:NTLA - Get Free Report)'s share price fell 7.3% during trading on Friday after Chardan Capital lowered their price target on the stock from $68.00 to $60.00. Chardan Capital currently has a buy rating on the stock. Intellia Therapeutics traded as low as $10.71 and last traded at $10.63. 2,064,923 shares were traded during mid-day trading, a decline of 49% from the average session volume of 4,044,148 shares. The stock had previously closed at $11.46.

Other equities analysts have also issued reports about the company. Citigroup dropped their target price on Intellia Therapeutics from $14.00 to $10.00 and set a "neutral" rating for the company in a research note on Friday, May 9th. Royal Bank Of Canada dropped their target price on Intellia Therapeutics from $25.00 to $21.00 and set an "outperform" rating for the company in a research note on Friday. HC Wainwright dropped their target price on Intellia Therapeutics from $30.00 to $25.00 and set a "buy" rating for the company in a research note on Friday. Wolfe Research upgraded Intellia Therapeutics from a "peer perform" rating to an "outperform" rating and set a $21.00 target price for the company in a research note on Monday, April 21st. Finally, Guggenheim lowered their price target on Intellia Therapeutics from $55.00 to $45.00 and set a "buy" rating for the company in a research report on Monday, May 12th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $30.68.

Insider Buying and Selling at Intellia Therapeutics

In related news, EVP Edward J. Dulac III sold 7,462 shares of the stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $14.02, for a total value of $104,617.24. Following the completion of the transaction, the executive vice president owned 106,062 shares of the company's stock, valued at approximately $1,486,989.24. This represents a 6.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders sold a total of 12,534 shares of company stock valued at $153,837 over the last ninety days. 3.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of NTLA. Voloridge Investment Management LLC boosted its holdings in Intellia Therapeutics by 226.8% in the fourth quarter. Voloridge Investment Management LLC now owns 1,526,994 shares of the company's stock valued at $17,805,000 after purchasing an additional 1,059,751 shares during the last quarter. Two Sigma Advisers LP boosted its holdings in Intellia Therapeutics by 94.5% in the fourth quarter. Two Sigma Advisers LP now owns 1,998,317 shares of the company's stock valued at $23,300,000 after purchasing an additional 970,700 shares during the last quarter. Two Sigma Investments LP boosted its holdings in Intellia Therapeutics by 88.1% in the fourth quarter. Two Sigma Investments LP now owns 1,843,743 shares of the company's stock valued at $21,498,000 after purchasing an additional 863,363 shares during the last quarter. Baker BROS. Advisors LP purchased a new position in Intellia Therapeutics in the fourth quarter valued at about $7,510,000. Finally, Vanguard Group Inc. boosted its holdings in Intellia Therapeutics by 5.5% in the first quarter. Vanguard Group Inc. now owns 10,752,031 shares of the company's stock valued at $76,447,000 after purchasing an additional 561,978 shares during the last quarter. Hedge funds and other institutional investors own 88.77% of the company's stock.

Intellia Therapeutics Price Performance

The stock has a market cap of $1.14 billion, a PE ratio of -2.33 and a beta of 2.31. The business has a fifty day moving average of $10.62 and a 200 day moving average of $9.48.

Intellia Therapeutics (NASDAQ:NTLA - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported ($0.99) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.03) by $0.04. Intellia Therapeutics had a negative return on equity of 54.90% and a negative net margin of 908.48%. The firm had revenue of $14.25 million for the quarter, compared to analysts' expectations of $12.26 million. During the same quarter in the prior year, the firm posted ($1.52) earnings per share. Intellia Therapeutics's revenue for the quarter was up 104.3% compared to the same quarter last year. On average, equities research analysts expect that Intellia Therapeutics, Inc. will post -5.07 EPS for the current year.

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.