Intellia Therapeutics (NASDAQ:NTLA) Sets New 12-Month Low After Analyst Downgrade

Intellia Therapeutics, Inc. (NASDAQ:NTLA) hit a new 52-week low during mid-day trading on Tuesday after Truist Financial lowered their price target on the stock from $90.00 to $50.00. Truist Financial currently has a buy rating on the stock. Intellia Therapeutics traded as low as $8.36 and last traded at $8.58, with a volume of 1281108 shares trading hands. The stock had previously closed at $9.45.

Several other equities analysts have also commented on the company. Barclays lowered their price objective on Intellia Therapeutics from $55.00 to $26.00 and set an “overweight” rating for the company in a research report on Friday. BMO Capital Markets cut their price objective on shares of Intellia Therapeutics from $70.00 to $50.00 and set an “outperform” rating on the stock in a report on Friday, January 10th. Canaccord Genuity Group reiterated a “buy” rating and set a $90.00 target price on shares of Intellia Therapeutics in a report on Tuesday, November 19th. Morgan Stanley cut Intellia Therapeutics from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $56.00 to $11.00 in a research report on Monday, January 27th. Finally, Wedbush reiterated a “neutral” rating and set a $10.00 price objective (down previously 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, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Intellia Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus target price of $38.00.

Insider Buying and Selling

In other Intellia Therapeutics news, CEO John M. Leonard sold 26,807 shares of the company’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $12.18, for a total transaction of $326,509.26. Following the completion of the sale, the chief executive officer now directly owns 941,115 shares of the company’s stock, 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 29,000 shares of company stock valued at $352,551 over the last 90 days. Company insiders own 3.20% of the company’s stock.

Institutional Trading of Intellia Therapeutics

Several hedge funds have recently bought and sold shares of NTLA. GF Fund Management CO. LTD. bought a new position in shares of Intellia Therapeutics during the 4th quarter valued at approximately $25,000. Sterling Capital Management LLC boosted its position in shares of Intellia Therapeutics by 866.2% in the fourth quarter. Sterling Capital Management LLC now owns 3,198 shares of the company’s stock worth $37,000 after purchasing an additional 2,867 shares during the period. Whipplewood Advisors LLC purchased a new stake in shares of Intellia Therapeutics in the fourth quarter worth $40,000. Resona Asset Management Co. Ltd. bought a new stake in shares of Intellia Therapeutics during the 4th quarter valued at $43,000. Finally, Jones Financial Companies Lllp lifted its stake in shares of Intellia Therapeutics by 140.9% during the 4th quarter. Jones Financial Companies Lllp now owns 3,898 shares of the company’s stock valued at $45,000 after buying an additional 2,280 shares in the last quarter. Institutional investors own 88.77% of the company’s stock.

Intellia Therapeutics Stock Performance

The company has a market cap of $939.42 million, a P/E ratio of -1.67 and a beta of 1.97. The firm’s fifty day moving average is $10.80 and its two-hundred day moving average is $15.46.

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.