Intellia Therapeutics (NASDAQ:NTLA) Hits New 12-Month Low – Time to Sell?

Shares of Intellia Therapeutics, Inc. (NASDAQ:NTLA) reached a new 52-week low on Tuesday . The stock traded as low as $6.73 and last traded at $6.72, with a volume of 815582 shares. The stock had previously closed at $7.11.

Analyst Ratings Changes

Several brokerages have issued reports on NTLA. The Goldman Sachs Group restated a “sell” rating and issued a $9.00 price target on shares of Intellia Therapeutics in a report on Friday, February 28th. Wedbush restated a “neutral” rating and set a $10.00 target price (down from $14.00) on shares of Intellia Therapeutics in a report on Friday, January 10th. Truist Financial reduced their price target on shares of Intellia Therapeutics from $90.00 to $50.00 and set a “buy” rating for the company in a report on Tuesday, March 4th. 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 report on Friday, February 28th. Finally, Barclays lowered their target price on Intellia Therapeutics from $55.00 to $26.00 and set an “overweight” rating for the company in a report on Friday, February 28th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Intellia Therapeutics has a consensus rating of “Moderate Buy” and an average price target of $37.56.

Intellia Therapeutics Price Performance

The company has a market capitalization of $722.86 million, a P/E ratio of -1.28 and a beta of 1.97. The company’s 50-day moving average price is $9.93 and its two-hundred day moving average price is $13.63.

Insider Buying and Selling at Intellia Therapeutics

In related news, CEO John M. Leonard sold 26,807 shares of the firm’s stock in a transaction dated 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 directly owns 941,115 shares of the company’s stock, valued at approximately $11,462,780.70. This trade represents a 2.77 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold a total of 29,000 shares of company stock valued at $352,551 in the last ninety days. 3.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Intellia Therapeutics

A number of large investors have recently added to or reduced their stakes in NTLA. GF Fund Management CO. LTD. bought a new position in Intellia Therapeutics in the 4th quarter valued at about $25,000. Sterling Capital Management LLC increased its stake in 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 acquiring an additional 2,867 shares during the last quarter. Whipplewood Advisors LLC bought a new stake in Intellia Therapeutics during the fourth quarter worth $40,000. Resona Asset Management Co. Ltd. acquired a new stake in shares of Intellia Therapeutics in the 4th quarter valued at $43,000. Finally, Jones Financial Companies Lllp increased its stake in shares of Intellia Therapeutics by 140.9% in the 4th quarter. Jones Financial Companies Lllp now owns 3,898 shares of the company’s stock valued at $45,000 after purchasing an additional 2,280 shares during the last quarter. Institutional investors and hedge funds 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.