Intellia Therapeutics (NASDAQ:NTLA) Trading Down 8.8% – Here’s What Happened

Intellia Therapeutics, Inc. (NASDAQ:NTLA)’s share price fell 8.8% during mid-day trading on Tuesday . The company traded as low as $13.80 and last traded at $13.6060. 1,428,999 shares were traded during mid-day trading, a decline of 74% from the average session volume of 5,591,244 shares. The stock had previously closed at $14.92.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on NTLA. Canaccord Genuity Group decreased their target price on Intellia Therapeutics from $58.00 to $49.00 and set a “buy” rating on the stock in a research report on Tuesday, May 12th. HC Wainwright reiterated a “buy” rating and issued a $25.00 target price on shares of Intellia Therapeutics in a research report on Monday. Sanford C. Bernstein lifted their target price on Intellia Therapeutics from $13.00 to $17.00 and gave the company a “market perform” rating in a research report on Wednesday, May 13th. Citigroup reiterated a “market outperform” rating on shares of Intellia Therapeutics in a research report on Monday. Finally, William Blair upgraded Intellia Therapeutics from a “market perform” rating to an “outperform” rating in a research report on Monday, March 2nd. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, ten have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $20.46.

Intellia Therapeutics Trading Down 8.0%

The company’s 50-day simple moving average is $13.64 and its 200-day simple moving average is $12.37. The stock has a market capitalization of $1.92 billion, a price-to-earnings ratio of -3.87 and a beta of 1.92.

Intellia Therapeutics (NASDAQ:NTLA) last announced its quarterly 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 firm had revenue of $15.05 million during the quarter, compared to analysts’ expectations of $13.81 million. During the same period in the prior year, the company posted ($1.10) EPS. On average, equities research analysts expect that Intellia Therapeutics, Inc. will post -3.18 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Intellia Therapeutics

A number of institutional investors have recently made changes to their positions in the stock. Oppenheimer & Co. Inc. grew its position in shares of Intellia Therapeutics by 0.8% in the 4th quarter. Oppenheimer & Co. Inc. now owns 105,165 shares of the company’s stock valued at $945,000 after buying an additional 808 shares during the last quarter. Comerica Bank grew its position in shares of Intellia Therapeutics by 45.8% in the 4th quarter. Comerica Bank now owns 2,869 shares of the company’s stock valued at $26,000 after buying an additional 901 shares during the last quarter. PNC Financial Services Group Inc. grew its position in shares of Intellia Therapeutics by 36.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,552 shares of the company’s stock valued at $46,000 after buying an additional 948 shares during the last quarter. Wealthfront Advisers LLC grew its position in shares of Intellia Therapeutics by 7.6% in the 1st quarter. Wealthfront Advisers LLC now owns 14,450 shares of the company’s stock valued at $185,000 after buying an additional 1,018 shares during the last quarter. Finally, Interchange Capital Partners LLC raised its position in shares of Intellia Therapeutics by 9.7% in the 3rd quarter. Interchange Capital Partners LLC now owns 11,695 shares of the company’s stock worth $202,000 after acquiring an additional 1,030 shares in the last quarter. Institutional investors 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.