Intellia Therapeutics (NASDAQ:NTLA) Trading Down 5.3% Following Insider Selling

Intellia Therapeutics, Inc. (NASDAQ:NTLA)’s share price traded down 5.3% on Monday following insider selling activity. The company traded as low as $16.17 and last traded at $16.6250. 768,262 shares were traded during trading, a decline of 86% from the average session volume of 5,637,388 shares. The stock had previously closed at $17.56.

Specifically, EVP Edward J. Dulac III sold 4,677 shares of the stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $18.00, for a total value of $84,186.00. Following the sale, the executive vice president owned 156,286 shares in the company, valued at approximately $2,813,148. This trade represents a 2.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Michael P. Dube sold 2,641 shares of the business’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $16.78, for a total value of $44,315.98. Following the transaction, the chief accounting officer owned 66,886 shares of the company’s stock, valued at approximately $1,122,347.08. The trade was a 3.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Citigroup restated a “market outperform” rating on shares of Intellia Therapeutics in a research report on Monday, June 15th. Morgan Stanley lifted their price objective on Intellia Therapeutics from $11.00 to $15.00 and gave the stock an “equal weight” rating in a report on Monday, April 27th. Citizens Jmp reissued a “market outperform” rating and set a $30.00 price target on shares of Intellia Therapeutics in a research report on Monday, June 15th. Wall Street Zen cut Intellia Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Finally, HC Wainwright reissued a “buy” rating and set a $25.00 target price on shares of Intellia Therapeutics in a research note on Monday, June 15th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, ten have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $20.46.

Intellia Therapeutics Trading Down 2.3%

The business’s fifty day moving average is $14.25 and its two-hundred day moving average is $13.19. The company has a market capitalization of $2.44 billion, a PE ratio of -4.92 and a beta of 1.77.

Intellia Therapeutics (NASDAQ:NTLA) last posted its earnings results on Monday, May 11th. The company reported ($0.81) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.92) by $0.11. Intellia Therapeutics had a negative net margin of 597.04% and a negative return on equity of 57.47%. The business had revenue of $15.05 million for the quarter, compared to analysts’ expectations of $13.81 million. During the same quarter in the prior year, the business earned ($1.10) EPS. As a group, equities research analysts anticipate that Intellia Therapeutics, Inc. will post -3.18 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Comerica Bank grew its position in shares of Intellia Therapeutics by 45.8% during the 4th quarter. Comerica Bank now owns 2,869 shares of the company’s stock valued at $26,000 after acquiring an additional 901 shares during the period. Headlands Technologies LLC purchased a new position in Intellia Therapeutics in the 2nd quarter worth approximately $26,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Intellia Therapeutics during the third quarter worth $30,000. Advisory Services Network LLC bought a new position in shares of Intellia Therapeutics during the 3rd quarter valued at about $33,000. Finally, Spire Wealth Management bought a new position in Intellia Therapeutics during the fourth quarter valued at approximately $37,000. 88.77% of the stock is owned by hedge funds and other institutional investors.

About Intellia Therapeutics

Intellia Therapeutics, Inc (NASDAQ: NTLA) is a clinical‐stage biotechnology company focused on developing potentially curative genome editing therapies using the CRISPR/Cas9 platform. The company’s research spans both in vivo and ex vivo applications of CRISPR/Cas9, aiming to correct or disable disease‐causing genes with a single administration. Intellia’s lead in vivo program targets transthyretin amyloidosis (ATTR) by delivering CRISPR/Cas9 machinery directly to the liver, while additional preclinical efforts pursue treatments for hemophilia A, hereditary angioedema and other genetic disorders.

Beyond its in vivo pipeline, Intellia collaborates with strategic partners to extend the impact of its genome editing approach.