Intellia Therapeutics (NASDAQ:NTLA) Stock Price Down 4.2% – Should You Sell?

Intellia Therapeutics, Inc. (NASDAQ:NTLA) shares dropped 4.2% during trading on Friday . The company traded as low as $12.97 and last traded at $12.99. Approximately 395,575 shares changed hands during trading, a decline of 77% from the average daily volume of 1,748,399 shares. The stock had previously closed at $13.56.

Wall Street Analyst Weigh In

NTLA has been the topic of a number of research analyst reports. Citigroup decreased their target price on Intellia Therapeutics from $25.00 to $19.00 and set a “neutral” rating on the stock in a research report on Friday, October 25th. Stifel Nicolaus reduced their price objective on Intellia Therapeutics from $80.00 to $64.00 and set a “buy” rating on the stock in a research report on Wednesday, September 11th. Royal Bank of Canada restated an “outperform” rating and issued a $54.00 price objective on shares of Intellia Therapeutics in a research report on Thursday, September 19th. The Goldman Sachs Group reduced their price objective on Intellia Therapeutics from $31.00 to $20.00 and set a “neutral” rating on the stock in a research report on Friday, October 25th. Finally, Oppenheimer reduced their price objective on Intellia Therapeutics from $70.00 to $60.00 and set an “outperform” rating on the stock in a research report on Monday, November 11th. One analyst has rated the stock with a sell rating, six have issued a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $54.94.

Intellia Therapeutics Stock Down 7.2 %

The firm has a market cap of $1.28 billion, a price-to-earnings ratio of -2.33 and a beta of 1.76. The business has a 50 day moving average price of $16.23 and a 200-day moving average price of $20.70.

Intellia Therapeutics (NASDAQ:NTLA) last posted its earnings results on Thursday, November 7th. The company reported ($1.34) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.37) by $0.03. The company had revenue of $9.10 million during the quarter, compared to analyst estimates of $8.28 million. During the same quarter last year, the business posted ($1.38) EPS. Intellia Therapeutics’s quarterly revenue was down 24.1% compared to the same quarter last year. Research analysts anticipate that Intellia Therapeutics, Inc. will post -5.12 earnings per share for the current fiscal year.

Insider Activity

In related news, CAO Michael P. Dube sold 2,012 shares of the stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $19.01, for a total value of $38,248.12. Following the completion of the transaction, the chief accounting officer now owns 47,012 shares of the company’s stock, valued at approximately $893,698.12. This represents a 4.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 3.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Blue Trust Inc. boosted 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 valued at $33,000 after purchasing an additional 1,398 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in Intellia Therapeutics by 763.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,753 shares of the company’s stock worth $39,000 after buying an additional 1,550 shares during the last quarter. Eastern Bank bought a new position in Intellia Therapeutics during the 3rd quarter worth approximately $41,000. Values First Advisors Inc. bought a new position in Intellia Therapeutics during the 3rd quarter worth approximately $54,000. Finally, First Horizon Advisors Inc. lifted its holdings in Intellia Therapeutics by 22.1% during the 2nd quarter. First Horizon Advisors Inc. now owns 2,604 shares of the company’s stock worth $58,000 after buying an additional 472 shares during the last quarter. Hedge funds and other institutional investors own 88.77% of the company’s stock.

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.