Intellia Therapeutics (NASDAQ:NTLA) Sets New 52-Week Low – What’s Next?

Shares of Intellia Therapeutics, Inc. (NASDAQ:NTLA) reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $8.30 and last traded at $8.32, with a volume of 1486287 shares trading hands. The stock had previously closed at $8.73.

Analyst Upgrades and Downgrades

NTLA has been the topic of several recent research reports. The Goldman Sachs Group reissued a “sell” rating and set a $9.00 price target on shares of Intellia Therapeutics in a research report on Friday, February 28th. Chardan Capital reduced their target price on shares of Intellia Therapeutics from $91.00 to $68.00 and set a “buy” rating on the stock in a research report on Friday, February 28th. Wedbush reaffirmed a “neutral” rating and set a $10.00 price target (down from $14.00) on shares of Intellia Therapeutics in a report on Friday, January 10th. Oppenheimer dropped their price target on shares of Intellia Therapeutics from $60.00 to $40.00 and set an “outperform” rating on the stock in a research note on Monday, January 13th. Finally, Morgan Stanley cut shares of Intellia Therapeutics from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $56.00 to $11.00 in a research report on Monday, January 27th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $37.56.

Intellia Therapeutics Price Performance

The business’s fifty day simple moving average is $10.01 and its 200 day simple moving average is $13.90. The stock has a market cap of $835.38 million, a price-to-earnings ratio of -1.48 and a beta of 1.97.

Insiders Place Their Bets

In other news, CEO John M. Leonard sold 26,807 shares of the stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $12.18, for a total transaction of $326,509.26. Following the sale, the chief executive officer now directly owns 941,115 shares in the company, valued at approximately $11,462,780.70. This represents a 2.77 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 29,000 shares of company stock valued at $352,551 over the last quarter. Insiders own 3.20% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NTLA. Regeneron Pharmaceuticals Inc. bought a new stake in Intellia Therapeutics in the fourth quarter valued at $43,177,000. Voloridge Investment Management LLC grew its position in shares of Intellia Therapeutics by 226.8% during the fourth quarter. Voloridge Investment Management LLC now owns 1,526,994 shares of the company’s stock worth $17,805,000 after acquiring an additional 1,059,751 shares during the last quarter. Contrarius Group Holdings Ltd acquired a new stake in shares of Intellia Therapeutics in the 4th quarter worth about $11,798,000. Two Sigma Advisers LP lifted its position in Intellia Therapeutics by 94.5% in the 4th quarter. Two Sigma Advisers LP now owns 1,998,317 shares of the company’s stock valued at $23,300,000 after purchasing an additional 970,700 shares during the last quarter. Finally, Two Sigma Investments LP boosted its stake in Intellia Therapeutics by 88.1% during the 4th quarter. Two Sigma Investments LP now owns 1,843,743 shares of the company’s stock valued at $21,498,000 after purchasing an additional 863,363 shares during the period. Institutional investors and hedge funds own 88.77% of the company’s stock.

About Intellia Therapeutics

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.