Intellia Therapeutics (NASDAQ:NTLA) Reaches New 52-Week Low – What’s Next?

Shares of Intellia Therapeutics, Inc. (NASDAQ:NTLA) reached a new 52-week low on Wednesday . The stock traded as low as $8.30 and last traded at $8.32, with a volume of 1486287 shares traded. The stock had previously closed at $8.73.

Wall Street Analysts Forecast Growth

NTLA has been the topic of a number of recent research reports. Morgan Stanley lowered Intellia Therapeutics from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $56.00 to $11.00 in a research report on Monday, January 27th. BMO Capital Markets decreased their price target on Intellia Therapeutics from $70.00 to $50.00 and set an “outperform” rating on the stock in a report on Friday, January 10th. Oppenheimer dropped their price objective on Intellia Therapeutics from $60.00 to $40.00 and set an “outperform” rating for the company in a report on Monday, January 13th. Citigroup upped their target price on shares of Intellia Therapeutics from $12.00 to $14.00 and gave the company a “neutral” rating in a research report on Friday, February 28th. Finally, Wedbush reiterated a “neutral” rating and set a $10.00 price target (down previously from $14.00) on shares of Intellia Therapeutics in a research report on Friday, January 10th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $37.56.

Intellia Therapeutics Price Performance

The stock has a market cap of $842.11 million, a P/E ratio of -1.50 and a beta of 1.97. The stock’s 50 day simple moving average is $10.05 and its two-hundred day simple moving average is $13.97.

Insider Buying and Selling at Intellia Therapeutics

In other news, CEO John M. Leonard sold 26,807 shares of Intellia Therapeutics stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 941,115 shares in the company, valued at $11,462,780.70. This trade represents a 2.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 29,000 shares of company stock valued at $352,551 in the last 90 days. 3.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Intellia Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Intech Investment Management LLC bought a new position in shares of Intellia Therapeutics in the 3rd quarter valued at about $580,000. Charles Schwab Investment Management Inc. increased its position in shares of Intellia Therapeutics by 4.8% during 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. D.A. Davidson & CO. raised its stake in shares of Intellia Therapeutics by 34.3% during the 3rd quarter. D.A. Davidson & CO. now owns 16,250 shares of the company’s stock worth $334,000 after purchasing an additional 4,150 shares in the last quarter. FMR LLC boosted its holdings in shares of Intellia Therapeutics by 5.0% in the 3rd quarter. FMR LLC now owns 2,339,522 shares of the company’s stock valued at $48,077,000 after buying an additional 111,104 shares during the last quarter. Finally, BNP Paribas Financial Markets grew its stake in shares of Intellia Therapeutics by 88.0% in the third quarter. BNP Paribas Financial Markets now owns 246,362 shares of the company’s stock valued at $5,063,000 after buying an additional 115,351 shares in the last quarter. 88.77% of the stock is currently owned by institutional investors and hedge funds.

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.