Intellia Therapeutics (NASDAQ:NTLA) Stock Price Down 7.1% – Here’s Why

Intellia Therapeutics, Inc. (NASDAQ:NTLA)’s share price dropped 7.1% on Monday . The stock traded as low as $9.35 and last traded at $9.59. Approximately 919,634 shares changed hands during trading, a decline of 70% from the average daily volume of 3,027,756 shares. The stock had previously closed at $10.32.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on NTLA shares. The Goldman Sachs Group decreased their price target on shares of Intellia Therapeutics from $19.00 to $12.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 14th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $90.00 target price on shares of Intellia Therapeutics in a research note on Tuesday, November 19th. Morgan Stanley downgraded Intellia Therapeutics from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $56.00 to $11.00 in a research report on Monday, January 27th. Citigroup reduced their target price on Intellia Therapeutics from $25.00 to $19.00 and set a “neutral” rating on the stock in a research report on Friday, October 25th. Finally, Wells Fargo & Company decreased their target price on shares of Intellia Therapeutics from $70.00 to $60.00 and set an “overweight” rating on the stock in a research report on Friday, January 10th. One analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Intellia Therapeutics has a consensus rating of “Moderate Buy” and an average target price of $48.71.

Intellia Therapeutics Stock Down 7.3 %

The company has a 50 day moving average price of $12.26 and a 200-day moving average price of $17.48. The company has a market cap of $974.30 million, a P/E ratio of -1.76 and a beta of 1.80.

Intellia Therapeutics (NASDAQ:NTLA) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($1.34) earnings per share for the quarter, beating the consensus estimate of ($1.37) by $0.03. The firm had revenue of $9.10 million during the quarter, compared to analyst estimates of $8.28 million. During the same quarter last year, the company earned ($1.38) EPS. The company’s quarterly revenue was down 24.1% compared to the same quarter last year. On average, research analysts expect that Intellia Therapeutics, Inc. will post -5.07 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO John M. Leonard sold 26,807 shares of the firm’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $12.18, for a total transaction of $326,509.26. Following the transaction, the chief executive officer now owns 941,115 shares in the company, valued at approximately $11,462,780.70. This trade represents a 2.77 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last quarter, insiders have sold 29,000 shares of company stock valued at $352,551. 3.20% of the stock is owned by corporate insiders.

Institutional Trading of Intellia Therapeutics

Hedge funds have recently added to or reduced their stakes in the business. Eastern Bank bought a new stake in Intellia Therapeutics in the 3rd quarter valued at $41,000. Values First Advisors Inc. acquired a new stake in Intellia Therapeutics during the third quarter valued at approximately $54,000. KBC Group NV raised its holdings in shares of Intellia Therapeutics by 62.4% in the 4th quarter. KBC Group NV now owns 6,093 shares of the company’s stock worth $71,000 after buying an additional 2,340 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Intellia Therapeutics by 27.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,674 shares of the company’s stock worth $77,000 after buying an additional 794 shares during the period. Finally, Blue Trust Inc. grew its position in Intellia Therapeutics by 182.7% in the third quarter. Blue Trust Inc. now owns 4,189 shares of the company’s stock valued at $94,000 after acquiring an additional 2,707 shares during the period. 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.