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

Intellia Therapeutics, Inc. (NASDAQ:NTLA - Get Free Report) shares gapped down prior to trading on Thursday . The stock had previously closed at $9.66, but opened at $7.37. Intellia Therapeutics shares last traded at $7.14, with a volume of 3,095,568 shares changing hands.

Analyst Ratings Changes

Several analysts have commented on NTLA shares. Wolfe Research raised Intellia Therapeutics from a "peer perform" rating to an "outperform" rating and set a $21.00 price objective on the stock in a report on Monday, April 21st. Barclays lowered their target price on Intellia Therapeutics from $55.00 to $26.00 and set an "overweight" rating for the company in a research note on Friday, February 28th. The Goldman Sachs Group reissued a "sell" rating and issued a $9.00 target price on shares of Intellia Therapeutics in a research report on Friday, February 28th. HC Wainwright reaffirmed a "buy" rating and set a $30.00 price objective on shares of Intellia Therapeutics in a research report on Thursday. Finally, JPMorgan Chase & Co. reissued a "neutral" rating and set a $13.00 target price (down from $45.00) on shares of Intellia Therapeutics in a research note on Friday, February 28th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $36.75.

Intellia Therapeutics Price Performance

The stock has a 50-day simple moving average of $7.97 and a 200-day simple moving average of $10.37. The stock has a market cap of $724.05 million, a PE ratio of -1.28 and a beta of 2.33.

Intellia Therapeutics (NASDAQ:NTLA - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported ($1.10) earnings per share for the quarter, beating the consensus estimate of ($1.26) by $0.16. The firm had revenue of $16.63 million during the quarter, compared to the consensus estimate of $11.39 million. During the same period in the prior year, the firm earned ($1.12) earnings per share. The firm's quarterly revenue was down 42.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Intellia Therapeutics, Inc. will post -5.07 EPS for the current year.

Institutional Trading of Intellia Therapeutics

Hedge funds have recently modified their holdings of the business. Barclays PLC increased its position in Intellia Therapeutics by 17.7% during the third quarter. Barclays PLC now owns 292,795 shares of the company's stock worth $6,017,000 after buying an additional 44,022 shares during the last quarter. SG Americas Securities LLC boosted its holdings in Intellia Therapeutics by 85.7% during the fourth quarter. SG Americas Securities LLC now owns 44,838 shares of the company's stock valued at $523,000 after acquiring an additional 20,694 shares during the period. KBC Group NV boosted its holdings in Intellia Therapeutics by 62.4% during the fourth quarter. KBC Group NV now owns 6,093 shares of the company's stock valued at $71,000 after acquiring an additional 2,340 shares during the period. China Universal Asset Management Co. Ltd. boosted its holdings in Intellia Therapeutics by 10.5% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 21,596 shares of the company's stock valued at $252,000 after acquiring an additional 2,059 shares during the period. Finally, Empowered Funds LLC bought a new stake in Intellia Therapeutics during the fourth quarter valued at about $185,000. Hedge funds and other 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.