Intellia Therapeutics (NASDAQ:NTLA) Trading Down 6% – What’s Next?

Intellia Therapeutics, Inc. (NASDAQ:NTLA)’s stock price was down 6% during mid-day trading on Tuesday . The stock traded as low as $8.80 and last traded at $8.75. Approximately 453,637 shares changed 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.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. StockNews.com upgraded Intellia Therapeutics to a “sell” rating in a research note on Monday, March 3rd. HC Wainwright began coverage on shares of Intellia Therapeutics in a research report on Wednesday, March 5th. They issued a “buy” rating and a $30.00 price objective on the stock. Citigroup boosted their price target on shares of Intellia Therapeutics from $12.00 to $14.00 and gave the stock a “neutral” rating in a research note on Friday, February 28th. The Goldman Sachs Group restated a “sell” rating and set a $9.00 price objective on shares of Intellia Therapeutics in a research report on Friday, February 28th. Finally, Barclays dropped their price objective on shares of Intellia Therapeutics from $55.00 to $26.00 and set an “overweight” rating for the company in a report on Friday, February 28th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $37.56.

Intellia Therapeutics Stock Performance

The firm has a market cap of $901.01 million, a PE ratio of -1.60 and a beta of 1.97. The company’s 50-day simple moving average is $10.07 and its two-hundred day simple moving average is $14.05.

Insider Transactions at Intellia Therapeutics

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 stock was sold at an average price of $12.18, for a total transaction of $326,509.26. Following the completion of the transaction, the chief executive officer now owns 941,115 shares of the company’s stock, valued at $11,462,780.70. This represents a 2.77 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Over the last ninety days, insiders sold 29,000 shares of company stock worth $352,551. Company insiders own 3.20% of the company’s stock.

Hedge Funds Weigh In On Intellia Therapeutics

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

Intellia Therapeutics Company Profile

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.