Intellia Therapeutics, Inc. (NASDAQ:NTLA - Get Free Report) dropped 7.6% during mid-day trading on Thursday . The company traded as low as $13.25 and last traded at $13.16. Approximately 1,960,357 shares changed hands during mid-day trading, a decline of 51% from the average daily volume of 3,979,962 shares. The stock had previously closed at $14.24.
Analyst Ratings Changes
NTLA has been the subject of several recent analyst reports. Canaccord Genuity Group reduced their price objective on shares of Intellia Therapeutics from $74.00 to $54.00 and set a "buy" rating for the company in a research note on Tuesday, June 3rd. Wedbush reiterated a "neutral" rating and set a $7.00 price objective on shares of Intellia Therapeutics in a research note on Monday, June 16th. Wolfe Research upgraded shares of Intellia Therapeutics from a "peer perform" rating to an "outperform" rating and set a $21.00 price target on the stock in a research note on Monday, April 21st. Citigroup cut their price target on shares of Intellia Therapeutics from $14.00 to $10.00 and set a "neutral" rating on the stock in a research note on Friday, May 9th. Finally, Chardan Capital reaffirmed a "buy" rating and issued a $68.00 price objective on shares of Intellia Therapeutics in a report on Friday, May 9th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $33.37.
View Our Latest Research Report on Intellia Therapeutics
Intellia Therapeutics Stock Down 3.6%
The firm's 50-day simple moving average is $9.96 and its 200 day simple moving average is $9.36. The stock has a market capitalization of $1.36 billion, a P/E ratio of -2.51 and a beta of 2.21.
Intellia Therapeutics (NASDAQ:NTLA - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($1.10) EPS for the quarter, topping analysts' consensus estimates of ($1.26) by $0.16. Intellia Therapeutics had a negative return on equity of 56.06% and a negative net margin of 1,154.10%. The company had revenue of $16.63 million during the quarter, compared to analyst estimates of $11.39 million. During the same period in the previous year, the company earned ($1.12) earnings per share. The company's quarterly revenue was down 42.6% compared to the same quarter last year. As a group, equities analysts anticipate that Intellia Therapeutics, Inc. will post -5.07 EPS for the current fiscal year.
Insider Activity at Intellia Therapeutics
In other Intellia Therapeutics news, EVP Edward J. Dulac III sold 7,462 shares of the stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $14.02, for a total value of $104,617.24. Following the transaction, the executive vice president owned 106,062 shares in the company, 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold a total of 12,799 shares of company stock valued at $156,089 in the last quarter. 3.10% of the stock is currently owned by company insiders.
Institutional Trading of Intellia Therapeutics
A number of institutional investors and hedge funds have recently modified their holdings of the business. Ensign Peak Advisors Inc grew its position in shares of Intellia Therapeutics by 2.9% in the fourth quarter. Ensign Peak Advisors Inc now owns 39,169 shares of the company's stock valued at $457,000 after purchasing an additional 1,100 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 valued at $120,000 after buying an additional 1,282 shares during the period. 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 valued at $62,000 after buying an additional 1,419 shares during the period. Northwestern Mutual Wealth Management Co. lifted its stake in Intellia Therapeutics by 56.4% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 4,590 shares of the company's stock worth $33,000 after purchasing an additional 1,655 shares during the last quarter. Finally, Virtus ETF Advisers LLC lifted its stake in Intellia Therapeutics by 47.7% during the fourth quarter. Virtus ETF Advisers LLC now owns 5,242 shares of the company's stock worth $61,000 after purchasing an additional 1,692 shares during the last quarter. 88.77% of the stock is owned by hedge funds and other institutional investors.
About Intellia Therapeutics
(
Get Free Report)
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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