Intellia Therapeutics (NASDAQ:NTLA) Hits New 1-Year Low on Analyst Downgrade

Intellia Therapeutics, Inc. (NASDAQ:NTLA)’s share price hit a new 52-week low during mid-day trading on Thursday after Citigroup lowered their price target on the stock from $25.00 to $19.00. Citigroup currently has a neutral rating on the stock. Intellia Therapeutics traded as low as $16.25 and last traded at $16.65, with a volume of 389198 shares trading hands. The stock had previously closed at $19.94.

A number of other research firms also recently issued reports on NTLA. Stifel Nicolaus lowered their price objective on shares of Intellia Therapeutics from $80.00 to $64.00 and set a “buy” rating on the stock in a report on Wednesday, September 11th. Robert W. Baird lowered their price target on shares of Intellia Therapeutics from $24.00 to $18.00 and set a “neutral” rating on the stock in a research note on Friday. Chardan Capital reduced their price objective on shares of Intellia Therapeutics from $94.00 to $88.00 and set a “buy” rating for the company in a research note on Thursday. JPMorgan Chase & Co. decreased their price objective on Intellia Therapeutics from $61.00 to $55.00 and set an “overweight” rating for the company in a report on Monday, August 12th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $54.00 target price on shares of Intellia Therapeutics in a report on Thursday, September 19th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $59.13.

Insider Activity

In related news, CAO Michael P. Dube sold 2,012 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $19.01, for a total value of $38,248.12. Following the transaction, the chief accounting officer now owns 47,012 shares in the company, valued at approximately $893,698.12. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 3.20% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NTLA. ARK Investment Management LLC lifted its holdings in shares of Intellia Therapeutics by 5.5% during the second quarter. ARK Investment Management LLC now owns 11,595,789 shares of the company’s stock worth $259,514,000 after buying an additional 606,507 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Intellia Therapeutics by 8.9% in the 1st quarter. Vanguard Group Inc. now owns 9,093,712 shares of the company’s stock valued at $250,168,000 after purchasing an additional 746,263 shares during the period. Federated Hermes Inc. grew its position in shares of Intellia Therapeutics by 19.2% during the 2nd quarter. Federated Hermes Inc. now owns 2,300,889 shares of the company’s stock worth $51,494,000 after purchasing an additional 371,189 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings 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 purchasing an additional 98,865 shares during the period. Finally, Chevy Chase Trust Holdings LLC raised its position in shares of Intellia Therapeutics by 8.4% in the first quarter. Chevy Chase Trust Holdings LLC now owns 1,074,610 shares of the company’s stock valued at $29,563,000 after buying an additional 83,435 shares in the last quarter. 88.77% of the stock is owned by institutional investors and hedge funds.

Intellia Therapeutics Stock Up 0.6 %

The firm has a 50 day moving average of $20.71 and a 200-day moving average of $22.75. The firm has a market capitalization of $1.62 billion, a P/E ratio of -2.91 and a beta of 1.76.

Intellia Therapeutics (NASDAQ:NTLA) last released its earnings results on Thursday, August 8th. The company reported ($1.52) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.23) by ($0.29). The firm had revenue of $7.00 million during the quarter, compared to the consensus estimate of $19.68 million. The business’s quarterly revenue was down 48.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($1.40) earnings per share. As a group, research analysts expect that Intellia Therapeutics, Inc. will post -5.22 EPS for the current year.

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.