Intellia Therapeutics (NASDAQ:NTLA) Shares Down 6% – Should You Sell?

Intellia Therapeutics, Inc. (NASDAQ:NTLA)’s stock price traded down 6% on Tuesday . The stock traded as low as $8.80 and last traded at $8.75. Approximately 453,637 shares traded hands during trading, a decline of 79% from the average daily volume of 2,115,428 shares. The stock had previously closed at $9.31.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on NTLA shares. Wedbush reiterated a “neutral” rating and issued a $10.00 price target (down from $14.00) on shares of Intellia Therapeutics in a report on Friday, January 10th. Citigroup increased their target price on Intellia Therapeutics from $12.00 to $14.00 and gave the company a “neutral” rating in a research note on Friday, February 28th. StockNews.com raised Intellia Therapeutics to a “sell” rating in a research report on Monday, March 3rd. Oppenheimer lowered their price objective on shares of Intellia Therapeutics from $60.00 to $40.00 and set an “outperform” rating for the company in a research report on Monday, January 13th. Finally, The Goldman Sachs Group reissued a “sell” rating and set a $9.00 target price on shares of Intellia Therapeutics in a research report on Friday, February 28th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Intellia Therapeutics has an average rating of “Moderate Buy” and an average target price of $37.56.

Intellia Therapeutics Price Performance

The stock has a market cap of $860.23 million, a price-to-earnings ratio of -1.53 and a beta of 1.97. The business’s fifty day simple moving average is $10.03 and its 200 day simple moving average is $13.93.

Insider Activity

In other Intellia Therapeutics news, CEO John M. Leonard sold 26,807 shares of the firm’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 transaction, the chief executive officer now owns 941,115 shares of the company’s stock, valued at $11,462,780.70. This trade represents a 2.77 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In the last three months, insiders sold 29,000 shares of company stock valued at $352,551. Company insiders own 3.20% of the company’s stock.

Institutional Trading of Intellia Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. GF Fund Management CO. LTD. acquired a new position in Intellia Therapeutics during the 4th quarter valued at approximately $25,000. Sterling Capital Management LLC boosted its holdings in shares of Intellia Therapeutics by 866.2% during the fourth quarter. Sterling Capital Management LLC now owns 3,198 shares of the company’s stock valued at $37,000 after acquiring an additional 2,867 shares during the period. Whipplewood Advisors LLC acquired a new position in shares of Intellia Therapeutics during the fourth quarter valued at $40,000. Resona Asset Management Co. Ltd. bought a new position in shares of Intellia Therapeutics during the fourth quarter worth about $43,000. Finally, Jones Financial Companies Lllp increased its holdings in shares of Intellia Therapeutics by 140.9% in the 4th quarter. Jones Financial Companies Lllp now owns 3,898 shares of the company’s stock worth $45,000 after acquiring an additional 2,280 shares during the period. 88.77% of the stock is currently owned by institutional investors and hedge funds.

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.