Intellia Therapeutics (NASDAQ:NTLA) Stock Crosses Below Fifty Day Moving Average - What's Next?

Key Points

• Intellia Therapeutics shares fell below their 50-day moving average, trading as low as $11.37 versus the $12.10 average, with a market capitalization of approximately $1.61 billion.
• Analyst sentiment is mixed: the stock has a consensus “Hold” rating and a $20.98 target price, with estimates ranging from $9.00 to $25.00.
• The company reported a quarterly loss of $0.80 per share in line with estimates, but revenue of $7.66 million missed expectations and declined 46.4% year over year; analysts forecast a full-year loss of $3.21 per share.

Intellia Therapeutics, Inc. (NASDAQ:NTLA - Get Free Report) shares passed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $12.10 and traded as low as $11.37. Intellia Therapeutics shares last traded at $11.49, with a volume of 4,586,846 shares traded.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Wolfe Research cut shares of Intellia Therapeutics from a "peer perform" rating to an "underperform" rating and set a $9.00 target price for the company. in a research report on Wednesday, July 15th. HC Wainwright restated a "buy" rating and issued a $25.00 price target on shares of Intellia Therapeutics in a research report on Wednesday, September 9th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Intellia Therapeutics in a research note on Friday, July 17th. New Street Research set a $25.00 price target on Intellia Therapeutics in a research report on Monday, June 15th. Finally, Citigroup reiterated a "market outperform" rating on shares of Intellia Therapeutics in a research report on Tuesday, August 25th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eight have issued a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $20.98.

Intellia Therapeutics Trading Up 1.1%

The company has a market cap of $1.61 billion, a P/E ratio of -3.42 and a beta of 1.82. The firm's 50 day moving average price is $12.10 and its 200-day moving average price is $13.35.

Intellia Therapeutics (NASDAQ:NTLA - Get Free Report) last released its earnings results on Thursday, August 6th. The company reported ($0.80) EPS for the quarter, hitting analysts' consensus estimates of ($0.80). Intellia Therapeutics had a negative net margin of 672.16% and a negative return on equity of 57.79%. The firm had revenue of $7.66 million during the quarter, compared to analyst estimates of $12.98 million. During the same quarter in the previous year, the business earned ($0.98) EPS. The business's quarterly revenue was down 46.4% compared to the same quarter last year. Analysts predict that Intellia Therapeutics, Inc. will post -3.21 earnings per share for the current fiscal year.

Insider Activity

In related news, CAO Michael P. Dube sold 2,641 shares of the stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $16.78, for a total value of $44,315.98. Following the sale, the chief accounting officer directly owned 66,886 shares in the company, valued at $1,122,347.08. This trade represents a 3.80% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 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 that occurred on Thursday, July 2nd. The stock was sold at an average price of $18.00, for a total transaction of $84,186.00. Following the transaction, the executive vice president directly owned 156,286 shares in the company, valued at $2,813,148. The trade was a 2.91% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 3.50% of the company's stock.

Hedge Funds Weigh In On Intellia Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the company. Freestone Grove Partners LP bought a new position in shares of Intellia Therapeutics during the 2nd quarter valued at about $33,000. Nykredit A S acquired a new stake in shares of Intellia Therapeutics during the second quarter worth $33,000. Integrated Wealth Concepts LLC acquired a new stake in shares of Intellia Therapeutics during the second quarter worth $34,000. Fifth Third Bancorp bought a new stake in Intellia Therapeutics in the 1st quarter valued at $38,000. Finally, PNC Financial Services Group Inc. lifted its position in Intellia Therapeutics by 36.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,552 shares of the company's stock valued at $46,000 after acquiring an additional 948 shares in the last quarter. Institutional investors and hedge funds own 88.77% of the company's stock.

Intellia Therapeutics Company Profile

Intellia Therapeutics, Inc is a biotechnology company focused on developing curative treatments using CRISPR-based gene-editing technology. The company's approach is designed to make targeted changes to disease-associated genes, including through in vivo therapies that edit genes directly inside the body.

Intellia's pipeline includes NTLA-2001, an investigational treatment designed to address transthyretin amyloidosis by editing the TTR gene, and NTLA-2002, an investigational therapy targeting hereditary angioedema through editing of the KLKB1 gene.

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