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

Intellia Therapeutics, Inc. (NASDAQ:NTLA)’s share price traded down 6.4% on Tuesday . The stock traded as low as $8.94 and last traded at $8.97. 316,236 shares traded hands during mid-day trading, a decline of 85% from the average session volume of 2,071,927 shares. The stock had previously closed at $9.58.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Barclays lowered their price target on shares of Intellia Therapeutics from $55.00 to $26.00 and set an “overweight” rating for the company in a research note on Friday, February 28th. Oppenheimer lowered their price target on shares of Intellia Therapeutics from $60.00 to $40.00 and set an “outperform” rating for the company in a research note on Monday, January 13th. BMO Capital Markets lowered their price target on shares of Intellia Therapeutics from $70.00 to $50.00 and set an “outperform” rating for the company in a research note on Friday, January 10th. Morgan Stanley downgraded shares of Intellia Therapeutics from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $56.00 to $11.00 in a research note on Monday, January 27th. Finally, Wedbush reaffirmed a “neutral” rating and set a $10.00 price objective (down from $14.00) on shares of Intellia Therapeutics in a research note on Friday, January 10th. Two investment analysts have 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 company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $37.56.

Intellia Therapeutics Stock Up 1.2 %

The firm’s 50-day moving average is $10.18 and its 200-day moving average is $14.37. The company has a market cap of $962.71 million, a PE ratio of -1.71 and a beta of 1.97.

Insiders Place Their Bets

In other Intellia Therapeutics news, CEO John M. Leonard sold 26,807 shares of the company’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $12.18, for a total value of $326,509.26. Following the sale, the chief executive officer now owns 941,115 shares in the company, valued at approximately $11,462,780.70. This represents a 2.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last quarter, insiders have sold 29,000 shares of company stock worth $352,551. 3.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Intellia Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. ARK Investment Management LLC grew its holdings in Intellia Therapeutics by 2.3% in the fourth quarter. ARK Investment Management LLC now owns 12,536,386 shares of the company’s stock worth $146,174,000 after purchasing an additional 280,946 shares during the period. Vanguard Group Inc. grew its holdings in Intellia Therapeutics by 5.8% in the fourth quarter. Vanguard Group Inc. now owns 10,190,053 shares of the company’s stock worth $118,816,000 after purchasing an additional 562,249 shares during the period. State Street Corp grew its holdings in Intellia Therapeutics by 17.9% in the third quarter. State Street Corp now owns 5,143,534 shares of the company’s stock worth $105,700,000 after purchasing an additional 780,754 shares during the period. Regeneron Pharmaceuticals Inc. purchased a new stake in Intellia Therapeutics in the fourth quarter worth about $43,177,000. Finally, Geode Capital Management LLC grew its holdings in Intellia Therapeutics by 2.0% in the fourth quarter. Geode Capital Management LLC now owns 2,389,240 shares of the company’s stock worth $27,865,000 after purchasing an additional 45,930 shares during the period. 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.