Intellia Therapeutics (NASDAQ:NTLA) Stock Price Down 9.6% After Analyst Downgrade

Shares of Intellia Therapeutics, Inc. (NASDAQ:NTLA) traded down 9.6% during mid-day trading on Friday after Barclays lowered their price target on the stock from $55.00 to $26.00. Barclays currently has an overweight rating on the stock. Intellia Therapeutics traded as low as $9.52 and last traded at $9.82. 622,529 shares traded hands during mid-day trading, a decline of 81% from the average session volume of 3,192,816 shares. The stock had previously closed at $10.86.

Several other equities research analysts have also issued reports on NTLA. The Goldman Sachs Group reiterated a “sell” rating and set a $9.00 price target on shares of Intellia Therapeutics in a report on Friday. Chardan Capital lowered their price objective on Intellia Therapeutics from $91.00 to $68.00 and set a “buy” rating on the stock in a report on Friday. BMO Capital Markets cut their price objective on Intellia Therapeutics from $70.00 to $50.00 and set an “outperform” rating on the stock in a research note on Friday, January 10th. Citigroup upped their target price on Intellia Therapeutics from $12.00 to $14.00 and gave the stock a “neutral” rating in a research report on Friday. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and issued a $13.00 price target (down previously from $45.00) on shares of Intellia Therapeutics in a research report on Friday. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Intellia Therapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $42.12.

Insider Activity

In other news, CEO John M. Leonard sold 26,807 shares of the business’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $12.18, for a total value of $326,509.26. Following the transaction, the chief executive officer now directly owns 941,115 shares of the company’s stock, valued at $11,462,780.70. The trade was a 2.77 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In the last quarter, insiders have sold 29,000 shares of company stock worth $352,551. Corporate insiders own 3.20% of the company’s stock.

Institutional Investors Weigh In On Intellia Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. GF Fund Management CO. LTD. acquired a new stake in Intellia Therapeutics in the 4th quarter valued at about $25,000. Sterling Capital Management LLC increased its holdings in shares of Intellia Therapeutics by 866.2% in the fourth quarter. Sterling Capital Management LLC now owns 3,198 shares of the company’s stock valued at $37,000 after purchasing an additional 2,867 shares in the last quarter. Whipplewood Advisors LLC acquired a new stake in shares of Intellia Therapeutics in the fourth quarter valued at approximately $40,000. Resona Asset Management Co. Ltd. bought a new position in Intellia Therapeutics in the 4th quarter worth approximately $43,000. Finally, Jones Financial Companies Lllp lifted its holdings in Intellia Therapeutics by 140.9% during the 4th quarter. Jones Financial Companies Lllp now owns 3,898 shares of the company’s stock worth $45,000 after buying an additional 2,280 shares in the last quarter. 88.77% of the stock is owned by institutional investors and hedge funds.

Intellia Therapeutics Stock Performance

The company has a market capitalization of $1.03 billion, a price-to-earnings ratio of -1.85 and a beta of 1.80. The business’s 50-day simple moving average is $10.90 and its 200-day simple moving average is $15.72.

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.