Intellia Therapeutics (NASDAQ:NTLA) Reaches New 1-Year Low – Here’s Why

Intellia Therapeutics, Inc. (NASDAQ:NTLA)’s share price reached a new 52-week low on Friday . The stock traded as low as $13.95 and last traded at $13.97, with a volume of 3666342 shares changing hands. The stock had previously closed at $15.12.

Analysts Set New Price Targets

Several research firms have recently weighed in on NTLA. Robert W. Baird reduced their target price on Intellia Therapeutics from $24.00 to $18.00 and set a “neutral” rating for the company in a report on Friday, October 25th. Wedbush reissued a “neutral” rating and issued a $14.00 target price on shares of Intellia Therapeutics in a report on Thursday, November 7th. Oppenheimer reduced their target price on Intellia Therapeutics from $70.00 to $60.00 and set an “outperform” rating for the company in a report on Monday. Barclays dropped their price target on Intellia Therapeutics from $76.00 to $55.00 and set an “overweight” rating on the stock in a research report on Friday, November 8th. Finally, Chardan Capital dropped their price target on Intellia Therapeutics from $94.00 to $88.00 and set a “buy” rating on the stock in a research report on Thursday, October 24th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $55.36.

Intellia Therapeutics Trading Down 7.6 %

The firm has a market capitalization of $1.42 billion, a PE ratio of -2.57 and a beta of 1.81. The firm has a 50-day moving average of $18.75 and a two-hundred day moving average of $22.09.

Intellia Therapeutics (NASDAQ:NTLA) last issued its earnings results on Thursday, November 7th. The company reported ($1.34) earnings per share for the quarter, topping the consensus estimate of ($1.37) by $0.03. The firm had revenue of $9.10 million during the quarter, compared to analysts’ expectations of $8.28 million. During the same period last year, the business posted ($1.38) earnings per share. The company’s quarterly revenue was down 24.1% compared to the same quarter last year. Equities research analysts expect that Intellia Therapeutics, Inc. will post -5.13 earnings per share for the current fiscal year.

Insider Activity at Intellia Therapeutics

In other news, CAO Michael P. Dube sold 2,012 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $19.01, for a total transaction of $38,248.12. Following the completion of the sale, the chief accounting officer now directly owns 47,012 shares in the company, valued at $893,698.12. This trade represents a 4.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.20% of the stock is owned by insiders.

Institutional Trading of Intellia Therapeutics

Several large investors have recently modified their holdings of NTLA. Blue Trust Inc. lifted its holdings in Intellia Therapeutics by 1,664.3% in the second quarter. Blue Trust Inc. now owns 1,482 shares of the company’s stock worth $33,000 after acquiring an additional 1,398 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of Intellia Therapeutics by 763.5% during the second quarter. EverSource Wealth Advisors LLC now owns 1,753 shares of the company’s stock valued at $39,000 after buying an additional 1,550 shares during the last quarter. Eastern Bank bought a new stake in shares of Intellia Therapeutics during the third quarter valued at approximately $41,000. Values First Advisors Inc. bought a new stake in shares of Intellia Therapeutics during the third quarter valued at approximately $54,000. Finally, First Horizon Advisors Inc. raised its holdings in shares of Intellia Therapeutics by 22.1% during the second quarter. First Horizon Advisors Inc. now owns 2,604 shares of the company’s stock valued at $58,000 after buying an additional 472 shares during the last quarter. 88.77% of the stock is currently owned by institutional investors and hedge funds.

Intellia Therapeutics Company Profile

Intellia Therapeutics, Inc, a genome editing company, focuses on the development of curative therapeutics. The company's in vivo programs include NTLA-2001, which is in Phase 1 clinical trial for the treatment of transthyretin amyloidosis; NTLA-2002 for the treatment of hereditary angioedema; and NTLA-3001 for alpha-1 antitrypsin deficiency associated lung disease.