Intellia Therapeutics (NASDAQ:NTLA) Shares Down 7.1%

Intellia Therapeutics, Inc. (NASDAQ:NTLA - Get Free Report) shares traded down 7.1% during mid-day trading on Tuesday . The company traded as low as $25.21 and last traded at $25.28. 1,018,492 shares were traded during mid-day trading, a decline of 35% from the average session volume of 1,560,572 shares. The stock had previously closed at $27.22.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Wolfe Research assumed coverage on Intellia Therapeutics in a report on Thursday, February 15th. They issued a "peer perform" rating for the company. Wedbush reaffirmed a "neutral" rating and issued a $29.00 target price on shares of Intellia Therapeutics in a report on Thursday, February 15th. The Goldman Sachs Group cut Intellia Therapeutics from a "buy" rating to a "neutral" rating and decreased their price target for the company from $136.00 to $32.00 in a research note on Friday, February 23rd. Finally, Canaccord Genuity Group increased their price target on Intellia Therapeutics from $72.00 to $73.00 and gave the company a "buy" rating in a research note on Friday, February 23rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat, Intellia Therapeutics has a consensus rating of "Moderate Buy" and a consensus target price of $67.00.

Intellia Therapeutics Stock Down 7.8 %

The stock has a 50 day simple moving average of $27.68 and a 200 day simple moving average of $28.60. The stock has a market cap of $2.41 billion, a price-to-earnings ratio of -4.64 and a beta of 1.77.

Intellia Therapeutics (NASDAQ:NTLA - Get Free Report) last announced its quarterly earnings data on Thursday, February 22nd. The company reported ($1.46) EPS for the quarter, beating analysts' consensus estimates of ($1.47) by $0.01. Intellia Therapeutics had a negative return on equity of 43.91% and a negative net margin of 893.34%. The firm had revenue of ($1.92) million during the quarter, compared to analysts' expectations of $15.10 million. During the same quarter last year, the firm posted ($1.40) earnings per share. Equities analysts expect that Intellia Therapeutics, Inc. will post -5.58 earnings per share for the current year.

Insider Buying and Selling at Intellia Therapeutics

In other Intellia Therapeutics news, EVP Laura Sepp-Lorenzino sold 2,275 shares of the firm's stock in a transaction that occurred on Monday, January 8th. The stock was sold at an average price of $28.87, for a total value of $65,679.25. Following the completion of the sale, the executive vice president now owns 43,927 shares of the company's stock, valued at $1,268,172.49. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Laura Sepp-Lorenzino sold 2,275 shares of Intellia Therapeutics stock in a transaction that occurred on Monday, January 8th. The stock was sold at an average price of $28.87, for a total transaction of $65,679.25. Following the transaction, the executive vice president now owns 43,927 shares of the company's stock, valued at $1,268,172.49. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP James Basta sold 2,297 shares of Intellia Therapeutics stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $32.99, for a total value of $75,778.03. Following the transaction, the executive vice president now directly owns 81,571 shares in the company, valued at approximately $2,691,027.29. The disclosure for this sale can be found here. Over the last quarter, insiders sold 35,003 shares of company stock valued at $1,037,955. Company insiders own 3.00% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. ARK Investment Management LLC boosted its position in Intellia Therapeutics by 14.7% in the fourth quarter. ARK Investment Management LLC now owns 11,412,449 shares of the company's stock worth $347,966,000 after purchasing an additional 1,463,820 shares during the last quarter. Vanguard Group Inc. boosted its position in Intellia Therapeutics by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 8,347,449 shares of the company's stock worth $254,514,000 after purchasing an additional 155,579 shares during the last quarter. BlackRock Inc. boosted its position in Intellia Therapeutics by 9.6% in the second quarter. BlackRock Inc. now owns 8,054,963 shares of the company's stock worth $328,481,000 after purchasing an additional 706,344 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its position in Intellia Therapeutics by 3.7% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,520,295 shares of the company's stock worth $111,312,000 after purchasing an additional 125,639 shares during the last quarter. Finally, State Street Corp boosted its position in Intellia Therapeutics by 31.1% in the second quarter. State Street Corp now owns 3,143,811 shares of the company's stock worth $162,724,000 after purchasing an additional 746,284 shares during the last quarter. 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.