Intellia Therapeutics (NASDAQ:NTLA) Hits New 1-Year Low – Here’s What Happened

Intellia Therapeutics, Inc. (NASDAQ:NTLA)’s stock price hit a new 52-week low during trading on Thursday . The company traded as low as $11.61 and last traded at $11.84, with a volume of 156491 shares trading hands. The stock had previously closed at $12.05.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on NTLA. The Goldman Sachs Group dropped their price target on Intellia Therapeutics from $31.00 to $20.00 and set a “neutral” rating for the company in a research report on Friday, October 25th. Oppenheimer cut their target price on shares of Intellia Therapeutics from $70.00 to $60.00 and set an “outperform” rating for the company in a research note on Monday, November 11th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $90.00 price target on shares of Intellia Therapeutics in a research note on Tuesday, November 19th. Barclays cut their price objective on shares of Intellia Therapeutics from $76.00 to $55.00 and set an “overweight” rating for the company in a research report on Friday, November 8th. Finally, Robert W. Baird decreased their target price on shares of Intellia Therapeutics from $24.00 to $18.00 and set a “neutral” rating on the stock in a research report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $54.94.

Intellia Therapeutics Trading Down 1.2 %

The stock’s 50-day moving average is $14.77 and its 200-day moving average is $19.90. The stock has a market cap of $1.22 billion, a price-to-earnings ratio of -2.20 and a beta of 1.76.

Intellia Therapeutics (NASDAQ:NTLA) last released its quarterly earnings data on Thursday, November 7th. The company reported ($1.34) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.37) by $0.03. The business had revenue of $9.10 million during the quarter, compared to analyst estimates of $8.28 million. During the same period in the previous year, the company earned ($1.38) EPS. Intellia Therapeutics’s revenue was down 24.1% on a year-over-year basis. On average, equities analysts predict that Intellia Therapeutics, Inc. will post -5.12 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CAO Michael P. Dube sold 2,012 shares of Intellia Therapeutics stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $19.01, for a total transaction of $38,248.12. Following the sale, the chief accounting officer now owns 47,012 shares in the company, valued at $893,698.12. This trade represents a 4.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Intellia Therapeutics

A number of large investors have recently added to or reduced their stakes in NTLA. State Street Corp boosted its position in Intellia Therapeutics by 17.9% in the 3rd quarter. State Street Corp now owns 5,143,534 shares of the company’s stock valued at $105,700,000 after buying an additional 780,754 shares during the last quarter. ARK Investment Management LLC boosted its holdings in Intellia Therapeutics by 5.7% in the third quarter. ARK Investment Management LLC now owns 12,255,440 shares of the company’s stock valued at $251,849,000 after purchasing an additional 659,651 shares during the last quarter. Federated Hermes Inc. grew its stake in Intellia Therapeutics by 19.2% during the 2nd quarter. Federated Hermes Inc. now owns 2,300,889 shares of the company’s stock valued at $51,494,000 after purchasing an additional 371,189 shares in the last quarter. Two Sigma Advisers LP increased its holdings in Intellia Therapeutics by 33.5% during the 3rd quarter. Two Sigma Advisers LP now owns 1,027,617 shares of the company’s stock worth $21,118,000 after purchasing an additional 257,700 shares during the last quarter. Finally, Sphera Funds Management LTD. raised its position in shares of Intellia Therapeutics by 108.8% in the 3rd quarter. Sphera Funds Management LTD. now owns 291,080 shares of the company’s stock valued at $5,982,000 after purchasing an additional 151,661 shares in the last quarter. 88.77% of the stock is owned by institutional investors and hedge funds.

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.