Intellia Therapeutics (NASDAQ:NTLA) Stock Price Down 6.4% – Should You Sell?

Intellia Therapeutics, Inc. (NASDAQ:NTLA)’s stock price dropped 6.4% on Tuesday . The company traded as low as $8.94 and last traded at $8.97. Approximately 316,236 shares changed hands during trading, a decline of 85% from the average daily volume of 2,071,927 shares. The stock had previously closed at $9.58.

Analysts Set New Price Targets

NTLA has been the subject of a number of research reports. Morgan Stanley cut shares of Intellia Therapeutics from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $56.00 to $11.00 in a report on Monday, January 27th. Chardan Capital decreased their price objective on shares of Intellia Therapeutics from $91.00 to $68.00 and set a “buy” rating for the company in a research note on Friday, February 28th. Citigroup raised their price objective on shares of Intellia Therapeutics from $12.00 to $14.00 and gave the stock a “neutral” rating in a research note on Friday, February 28th. William Blair reaffirmed a “neutral” rating and issued a $14.00 price objective on shares of Intellia Therapeutics in a research note on Monday, November 18th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $13.00 price objective (down previously 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 assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $37.56.

Intellia Therapeutics Trading Down 2.5 %

The firm has a market cap of $966.85 million, a P/E ratio of -1.71 and a beta of 1.97. The business’s fifty day moving average price is $10.30 and its two-hundred day moving average price is $14.50.

Insider Activity

In related news, CEO John M. Leonard sold 26,807 shares of Intellia Therapeutics stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $12.18, for a total value of $326,509.26. Following the transaction, the chief executive officer now owns 941,115 shares in the company, valued at $11,462,780.70. This trade represents a 2.77 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In the last 90 days, insiders have sold 29,000 shares of company stock worth $352,551. 3.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. State Street Corp grew its position in Intellia Therapeutics by 17.9% in the 3rd quarter. State Street Corp now owns 5,143,534 shares of the company’s stock worth $105,700,000 after purchasing an additional 780,754 shares during the last quarter. Hennion & Walsh Asset Management Inc. grew its position in Intellia Therapeutics by 125.2% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 120,997 shares of the company’s stock worth $1,411,000 after purchasing an additional 67,276 shares during the last quarter. Patient Square Capital LP acquired a new stake in Intellia Therapeutics in the 3rd quarter worth $2,642,000. Charles Schwab Investment Management Inc. grew its position in Intellia Therapeutics by 4.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 827,545 shares of the company’s stock worth $17,006,000 after purchasing an additional 37,714 shares during the last quarter. Finally, Avanza Fonder AB acquired a new stake in Intellia Therapeutics in the 4th quarter worth $421,000. 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.