Intellia Therapeutics (NASDAQ:NTLA) Shares Down 6.2% – Here’s What Happened

Shares of Intellia Therapeutics, Inc. (NASDAQ:NTLA) fell 6.2% during trading on Tuesday . The company traded as low as $14.71 and last traded at $14.76. 868,734 shares were traded during mid-day trading, a decline of 50% from the average session volume of 1,742,397 shares. The stock had previously closed at $15.73.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on NTLA. Evercore ISI raised shares of Intellia Therapeutics to a “strong-buy” rating in a research report on Friday, August 9th. StockNews.com raised Intellia Therapeutics to a “sell” rating in a research report on Friday, November 8th. Oppenheimer dropped their target price on Intellia Therapeutics from $70.00 to $60.00 and set an “outperform” rating on the stock in a report on Monday, November 11th. Wells Fargo & Company decreased their price target on Intellia Therapeutics from $80.00 to $70.00 and set an “overweight” rating for the company in a research note on Monday, November 18th. Finally, The Goldman Sachs Group dropped their price objective on Intellia Therapeutics from $31.00 to $20.00 and set a “neutral” rating on the stock in a research note on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Intellia Therapeutics has an average rating of “Moderate Buy” and an average target price of $54.94.

Intellia Therapeutics Trading Down 6.9 %

The firm has a 50-day moving average of $17.14 and a two-hundred day moving average of $21.27. The firm has a market capitalization of $1.49 billion, a P/E ratio of -2.69 and a beta of 1.76.

Intellia Therapeutics (NASDAQ:NTLA) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($1.34) earnings per share 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 in the previous year, the business posted ($1.38) earnings per share. The company’s revenue for the quarter was down 24.1% on a year-over-year basis. On average, sell-side analysts anticipate that Intellia Therapeutics, Inc. will post -5.13 EPS for the current fiscal year.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP raised its position in shares of Intellia Therapeutics by 8.1% during the second quarter. Dimensional Fund Advisors LP now owns 1,324,561 shares of the company’s stock worth $29,648,000 after acquiring an additional 98,865 shares during the last quarter. Thrivent Financial for Lutherans acquired a new position in shares of Intellia Therapeutics in the 2nd quarter valued at about $679,000. American Century Companies Inc. boosted its position in shares of Intellia Therapeutics by 23.8% during the 2nd quarter. American Century Companies Inc. now owns 330,514 shares of the company’s stock valued at $7,397,000 after purchasing an additional 63,550 shares in the last quarter. Comerica Bank increased its holdings in Intellia Therapeutics by 853.6% in the first quarter. Comerica Bank now owns 37,105 shares of the company’s stock worth $1,021,000 after purchasing an additional 33,214 shares in the last quarter. Finally, ARK Investment Management LLC lifted its stake in Intellia Therapeutics by 5.7% in the third quarter. ARK Investment Management LLC now owns 12,255,440 shares of the company’s stock valued at $251,849,000 after buying an additional 659,651 shares during the period. 88.77% of the stock is 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.