Intellia Therapeutics (NASDAQ:NTLA) Trading Down 7.1% – Here’s Why

Intellia Therapeutics, Inc. (NASDAQ:NTLA)’s stock price dropped 7.1% on Monday . The company traded as low as $13.35 and last traded at $13.2090. 978,475 shares traded hands during trading, a decline of 83% from the average session volume of 5,609,454 shares. The stock had previously closed at $14.22.

Wall Street Analyst Weigh In

NTLA has been the topic of several recent research reports. Morgan Stanley lifted their price target on shares of Intellia Therapeutics from $11.00 to $15.00 and gave the stock an “equal weight” rating in a research report on Monday, April 27th. HC Wainwright reiterated a “buy” rating and set a $25.00 price objective on shares of Intellia Therapeutics in a research report on Monday, June 15th. New Street Research set a $25.00 price objective on Intellia Therapeutics in a research note on Monday, June 15th. The Goldman Sachs Group lifted their target price on Intellia Therapeutics from $8.00 to $9.00 and gave the stock a “sell” rating in a report on Tuesday, April 28th. Finally, Wall Street Zen downgraded Intellia Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, ten have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $20.67.

Intellia Therapeutics Trading Down 8.0%

The company has a market cap of $1.83 billion, a price-to-earnings ratio of -3.71 and a beta of 1.77. The business has a fifty day moving average price of $14.40 and a two-hundred day moving average price of $13.32.

Intellia Therapeutics (NASDAQ:NTLA) last posted its quarterly earnings results on Monday, May 11th. The company reported ($0.81) EPS for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $13.81 million. During the same period last year, the company posted ($1.10) earnings per share. On average, analysts anticipate that Intellia Therapeutics, Inc. will post -3.18 EPS for the current year.

Insider Buying and Selling

In other Intellia Therapeutics news, EVP Edward J. Dulac III sold 4,677 shares of the stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $18.00, for a total value of $84,186.00. Following the completion of the sale, the executive vice president owned 156,286 shares in the company, valued at $2,813,148. This represents a 2.91% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Michael P. Dube sold 2,641 shares of Intellia Therapeutics stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $16.78, for a total transaction of $44,315.98. Following the sale, the chief accounting officer directly owned 66,886 shares of the company’s stock, valued at $1,122,347.08. This trade represents a 3.80% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 3.50% of the stock is owned by corporate insiders.

Institutional Trading of Intellia Therapeutics

A number of institutional investors have recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd purchased a new position in Intellia Therapeutics in the third quarter valued at about $30,000. Advisory Services Network LLC acquired a new position in Intellia Therapeutics in the 3rd quarter worth about $33,000. Headlands Technologies LLC purchased a new stake in shares of Intellia Therapeutics during the 2nd quarter worth about $26,000. Comerica Bank raised its stake in shares of Intellia Therapeutics by 45.8% during the 4th quarter. Comerica Bank now owns 2,869 shares of the company’s stock worth $26,000 after purchasing an additional 901 shares in the last quarter. Finally, Danske Bank A S purchased a new stake in shares of Intellia Therapeutics during the 3rd quarter worth about $50,000. Institutional investors and hedge funds own 88.77% of the company’s stock.

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.