Intellia Therapeutics (NASDAQ:NTLA) Share Price Crosses Above Fifty Day Moving Average – Should You Sell?

Intellia Therapeutics, Inc. (NASDAQ:NTLA) shares crossed above its fifty day moving average during trading on Tuesday. The stock has a fifty day moving average of $12.20 and traded as high as $12.31. Intellia Therapeutics shares last traded at $12.28, with a volume of 3,844,222 shares traded.

Analysts Set New Price Targets

NTLA has been the topic of a number of recent research reports. HC Wainwright restated a “buy” rating and issued a $25.00 target price on shares of Intellia Therapeutics in a research note on Wednesday, September 9th. Citizens Jmp reaffirmed a “market outperform” rating and set a $30.00 target price on shares of Intellia Therapeutics in a report on Wednesday, September 9th. Wall Street Zen cut Intellia Therapeutics from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 8th. Weiss Ratings reissued a “sell (d-)” rating on shares of Intellia Therapeutics in a report on Thursday, October 15th. Finally, Barclays began coverage on Intellia Therapeutics in a report on Tuesday, October 6th. They issued an “underweight” rating and a $8.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, seven have issued a Hold rating and five have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $20.57.

Intellia Therapeutics Stock Performance

The stock has a 50-day simple moving average of $12.20 and a 200-day simple moving average of $13.03.

Intellia Therapeutics (NASDAQ:NTLA) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.80) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.80). The business had revenue of $7.66 million during the quarter, compared to the consensus estimate of $12.98 million. The company’s revenue for the quarter was down 46.4% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.98) EPS. Sell-side analysts expect that Intellia Therapeutics, Inc. will post -3.21 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Intellia Therapeutics

Large investors have recently bought and sold shares of the stock. PNC Financial Services Group Inc. increased its stake in Intellia Therapeutics by 36.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 3,552 shares of the company’s stock valued at $46,000 after buying an additional 948 shares during the period. Wealthfront Advisers LLC raised its position in shares of Intellia Therapeutics by 7.6% during the 1st quarter. Wealthfront Advisers LLC now owns 14,450 shares of the company’s stock worth $185,000 after buying an additional 1,018 shares in the last quarter. Wellington Management Group LLP lifted its stake in shares of Intellia Therapeutics by 2.7% in the 2nd quarter. Wellington Management Group LLP now owns 43,484 shares of the company’s stock worth $736,000 after acquiring an additional 1,125 shares during the period. Axxcess Wealth Management LLC lifted its stake in shares of Intellia Therapeutics by 6.1% in the 1st quarter. Axxcess Wealth Management LLC now owns 22,707 shares of the company’s stock worth $291,000 after acquiring an additional 1,308 shares during the period. Finally, Cyndeo Wealth Partners LLC lifted its stake in shares of Intellia Therapeutics by 6.1% in the 3rd quarter. Cyndeo Wealth Partners LLC now owns 26,986 shares of the company’s stock worth $325,000 after acquiring an additional 1,556 shares during the period. Institutional investors and hedge funds own 88.77% of the company’s stock.

Intellia Therapeutics Company Profile

Intellia Therapeutics, Inc is a biotechnology company focused on developing potentially curative treatments using CRISPR-based gene-editing technology. The company is working to create therapies that can modify disease-causing genes inside the body, with the goal of addressing the underlying causes of serious genetic diseases rather than treating only their symptoms.

Intellia’s pipeline has included NTLA-2001, an investigational in vivo gene-editing therapy designed to reduce production of transthyretin for the treatment of transthyretin amyloidosis, and NTLA-2002, an investigational therapy intended to target hereditary angioedema.