Intellia Therapeutics (NASDAQ:NTLA) Shares Down 6.2% – What’s Next?

Intellia Therapeutics, Inc. (NASDAQ:NTLA) shares dropped 6.2% on Tuesday . The stock traded as low as $14.71 and last traded at $14.76. Approximately 868,734 shares changed hands during mid-day trading, a decline of 50% from the average daily volume of 1,742,397 shares. The stock had previously closed at $15.73.

Analyst Upgrades and Downgrades

Several analysts have recently commented on NTLA shares. Stifel Nicolaus reduced their target price on Intellia Therapeutics from $80.00 to $64.00 and set a “buy” rating for the company in a research note on Wednesday, September 11th. StockNews.com raised shares of Intellia Therapeutics to a “sell” rating in a research report on Friday, November 8th. JPMorgan Chase & Co. lowered their price target on Intellia Therapeutics from $61.00 to $55.00 and set an “overweight” rating for the company in a research report on Monday, August 12th. Robert W. Baird decreased their price target on Intellia Therapeutics from $24.00 to $18.00 and set a “neutral” rating for the company in a research report on Friday, October 25th. Finally, Barclays cut their price objective on Intellia Therapeutics from $76.00 to $55.00 and set an “overweight” rating on the stock in a research report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $54.94.

Intellia Therapeutics Stock Down 6.9 %

The company has a 50-day moving average price of $17.14 and a two-hundred day moving average price of $21.27. The stock has a market capitalization of $1.49 billion, a P/E ratio of -2.69 and a beta of 1.76.

Intellia Therapeutics (NASDAQ:NTLA) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($1.34) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.37) by $0.03. The business had revenue of $9.10 million during the quarter, compared to analysts’ expectations of $8.28 million. During the same quarter last year, the business posted ($1.38) EPS. The company’s quarterly revenue was down 24.1% on a year-over-year basis. On average, sell-side analysts expect that Intellia Therapeutics, Inc. will post -5.13 earnings per share for the current year.

Insider Buying and Selling

In other Intellia Therapeutics news, CAO Michael P. Dube sold 2,012 shares of Intellia Therapeutics stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $19.01, for a total transaction of $38,248.12. Following the completion of the sale, the chief accounting officer now owns 47,012 shares of the company’s stock, valued at $893,698.12. The trade was a 4.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.20% of the stock is owned by company insiders.

Institutional Trading of Intellia Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the company. Franklin Resources Inc. lifted its stake in Intellia Therapeutics by 10.3% in the third quarter. Franklin Resources Inc. now owns 16,405 shares of the company’s stock worth $320,000 after purchasing an additional 1,538 shares during the last quarter. Sanctuary Advisors LLC boosted its position in Intellia Therapeutics by 147.9% during the 3rd quarter. Sanctuary Advisors LLC now owns 53,590 shares of the company’s stock valued at $1,101,000 after buying an additional 31,976 shares during the period. Virtu Financial LLC bought a new stake in Intellia Therapeutics in the 3rd quarter worth $417,000. Geode Capital Management LLC increased its position in shares of Intellia Therapeutics by 2.2% in the third quarter. Geode Capital Management LLC now owns 2,343,310 shares of the company’s stock valued at $48,164,000 after acquiring an additional 49,367 shares during the period. Finally, Barclays PLC grew its stake in shares of Intellia Therapeutics by 17.7% in the third quarter. Barclays PLC now owns 292,795 shares of the company’s stock worth $6,017,000 after purchasing an additional 44,022 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.