Intellia Therapeutics (NASDAQ:NTLA) Shares Down 5.3% on Insider Selling

Shares of Intellia Therapeutics, Inc. (NASDAQ:NTLA) dropped 5.3% during mid-day trading on Monday following insider selling activity. The stock traded as low as $16.17 and last traded at $16.6250. 768,262 shares changed hands during trading, a decline of 86% from the average daily volume of 5,637,388 shares. The stock had previously closed at $17.56.

Specifically, EVP Edward J. Dulac III sold 4,677 shares of the company’s stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $18.00, for a total transaction of $84,186.00. Following the transaction, the executive vice president owned 156,286 shares in the company, valued at approximately $2,813,148. This represents a 2.91% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Michael P. Dube sold 2,641 shares of the firm’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $16.78, for a total transaction of $44,315.98. Following the transaction, the chief accounting officer directly owned 66,886 shares of the company’s stock, valued at $1,122,347.08. This represents a 3.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Analyst Upgrades and Downgrades

NTLA has been the subject of a number of research reports. The Goldman Sachs Group boosted their target price on shares of Intellia Therapeutics from $8.00 to $9.00 and gave the company a “sell” rating in a research report on Tuesday, April 28th. Wall Street Zen downgraded Intellia Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Citizens Jmp reiterated a “market outperform” rating and set a $30.00 price objective on shares of Intellia Therapeutics in a research note on Monday, June 15th. Weiss Ratings reissued a “sell (d-)” rating on shares of Intellia Therapeutics in a report on Tuesday, April 21st. Finally, Wedbush restated a “neutral” rating and issued a $12.00 target price on shares of Intellia Therapeutics in a research note on Monday, June 15th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, ten have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $20.46.

Intellia Therapeutics Stock Down 2.3%

The company’s 50-day moving average is $14.25 and its 200 day moving average is $13.19. The company has a market cap of $2.44 billion, a price-to-earnings ratio of -4.92 and a beta of 1.77.

Intellia Therapeutics (NASDAQ:NTLA) last issued its quarterly earnings data on Monday, May 11th. The company reported ($0.81) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.92) by $0.11. Intellia Therapeutics had a negative net margin of 597.04% and a negative return on equity of 57.47%. The business had revenue of $15.05 million during the quarter, compared to the consensus estimate of $13.81 million. During the same quarter in the prior year, the firm posted ($1.10) earnings per share. Analysts predict that Intellia Therapeutics, Inc. will post -3.18 EPS for the current fiscal year.

Hedge Funds Weigh In On Intellia Therapeutics

A number of large investors have recently bought and sold shares of the business. Oppenheimer & Co. Inc. increased its position in shares of Intellia Therapeutics by 0.8% in the fourth quarter. Oppenheimer & Co. Inc. now owns 105,165 shares of the company’s stock valued at $945,000 after buying an additional 808 shares in the last quarter. Comerica Bank lifted its position in shares of Intellia Therapeutics by 45.8% during the 4th quarter. Comerica Bank now owns 2,869 shares of the company’s stock valued at $26,000 after buying an additional 901 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in shares of 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 in the last quarter. Wealthfront Advisers LLC grew its stake in Intellia Therapeutics by 7.6% in the 1st quarter. Wealthfront Advisers LLC now owns 14,450 shares of the company’s stock valued at $185,000 after acquiring an additional 1,018 shares during the period. Finally, Benjamin Edwards Inc. grew its stake in Intellia Therapeutics by 1.8% in the 2nd quarter. Benjamin Edwards Inc. now owns 63,034 shares of the company’s stock valued at $591,000 after acquiring an additional 1,126 shares during the period. Institutional investors and hedge funds own 88.77% of the company’s stock.

Intellia Therapeutics Company Profile

Intellia Therapeutics, Inc (NASDAQ: NTLA) is a clinical?stage biotechnology company focused on developing potentially curative genome editing therapies using the CRISPR/Cas9 platform. The company’s research spans both in vivo and ex vivo applications of CRISPR/Cas9, aiming to correct or disable disease?causing genes with a single administration. Intellia’s lead in vivo program targets transthyretin amyloidosis (ATTR) by delivering CRISPR/Cas9 machinery directly to the liver, while additional preclinical efforts pursue treatments for hemophilia A, hereditary angioedema and other genetic disorders.

Beyond its in vivo pipeline, Intellia collaborates with strategic partners to extend the impact of its genome editing approach.