Intellia Therapeutics Inc (NASDAQ:NTLA) dropped 2.9% during mid-day trading on Thursday . The company traded as low as $22.20 and last traded at $22.49, with a volume of 77,737 shares changing hands. The stock had previously closed at $23.15.

NTLA has been the subject of a number of recent analyst reports. Leerink Swann initiated coverage on shares of Intellia Therapeutics in a report on Tuesday, May 31st. They issued a “market perform” rating and a $32.00 target price for the company. Credit Suisse Group AG initiated coverage on shares of Intellia Therapeutics in a report on Tuesday, May 31st. They issued an “outperform” rating and a $39.00 target price for the company. Zacks Investment Research downgraded shares of Intellia Therapeutics from a “hold” rating to a “sell” rating in a report on Wednesday, August 3rd. Jefferies Group restated a “buy” rating on shares of Intellia Therapeutics in a report on Wednesday. Finally, Wedbush began coverage on shares of Intellia Therapeutics in a research note on Tuesday, May 31st. They set an “outperform” rating and a $38.00 price objective for the company. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $35.50.

The firm’s market capitalization is $802.69 million. The stock has a 50 day moving average of $19.13 and a 200-day moving average of $23.07.

Intellia Therapeutics, Inc is a United States-based genome editing company focused on the development of curative therapeutics using a biological tool, CRISPR/Cas9 system. The Company’s CRISPR/Cas9 technology edits diseased genes in the human body through a single treatment course. It focuses on the therapeutic applications of CRISPR/Cas9 genome editing.

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