Intellia Therapeutics (NASDAQ:NTLA) Stock Price Down 6.4% – Time to Sell?

Intellia Therapeutics, Inc. (NASDAQ:NTLA) shares traded down 6.4% during mid-day trading on Thursday . The company traded as low as $12.53 and last traded at $12.4360. 677,089 shares traded hands during trading, a decline of 87% from the average session volume of 5,288,615 shares. The stock had previously closed at $13.28.

Analyst Ratings Changes

Several research firms have recently commented on NTLA. Robert W. Baird increased their price target on shares of Intellia Therapeutics from $7.00 to $13.00 and gave the company a “neutral” rating in a research report on Monday, April 27th. Canaccord Genuity Group restated a “buy” rating and set a $49.00 price objective on shares of Intellia Therapeutics in a research report on Tuesday, June 16th. Leerink Partners set a $35.00 price objective on Intellia Therapeutics in a research report on Monday, April 27th. Evercore raised Intellia Therapeutics from a “hold” rating to an “outperform” rating and set a $24.00 target price on the stock in a research note on Friday, August 7th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Intellia Therapeutics in a report on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eight have given a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Intellia Therapeutics has a consensus rating of “Hold” and an average target price of $21.15.

Intellia Therapeutics Stock Performance

The company has a market capitalization of $1.79 billion, a PE ratio of -3.79 and a beta of 1.81. The stock’s fifty day simple moving average is $13.45 and its 200-day simple moving average is $13.36.

Intellia Therapeutics (NASDAQ:NTLA) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.80) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.80). The company had revenue of $7.66 million for the quarter, compared to analysts’ expectations of $12.98 million. Intellia Therapeutics had a negative net margin of 672.16% and a negative return on equity of 57.79%. The firm’s revenue for the quarter was down 46.4% compared to the same quarter last year. During the same period last year, the company earned ($0.98) EPS. On average, equities analysts anticipate that Intellia Therapeutics, Inc. will post -3.21 EPS for the current year.

Insider Activity at Intellia Therapeutics

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

Institutional Investors Weigh In On Intellia Therapeutics

Several hedge funds have recently made changes to their positions in the business. AQR Capital Management LLC grew its position in shares of Intellia Therapeutics by 154.1% in the first quarter. AQR Capital Management LLC now owns 90,875 shares of the company’s stock valued at $646,000 after purchasing an additional 55,118 shares during the period. Woodline Partners LP acquired a new position in Intellia Therapeutics in the first quarter valued at $171,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Intellia Therapeutics by 8.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 521,706 shares of the company’s stock worth $3,709,000 after buying an additional 38,521 shares during the period. Creative Planning lifted its position in Intellia Therapeutics by 12.9% during the second quarter. Creative Planning now owns 33,102 shares of the company’s stock worth $310,000 after buying an additional 3,795 shares during the period. Finally, Cetera Investment Advisers boosted its stake in Intellia Therapeutics by 47.4% in the 2nd quarter. Cetera Investment Advisers now owns 33,532 shares of the company’s stock worth $315,000 after buying an additional 10,785 shares during the last quarter. Institutional investors and hedge funds own 88.77% of the company’s stock.

Intellia Therapeutics Company Profile

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.