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

Intellia Therapeutics, Inc. (NASDAQ:NTLA) shares reached a new 52-week low on Friday after BMO Capital Markets lowered their price target on the stock from $70.00 to $50.00. BMO Capital Markets currently has an outperform rating on the stock. Intellia Therapeutics traded as low as $10.35 and last traded at $10.56, with a volume of 1506684 shares trading hands. The stock had previously closed at $12.02.

NTLA has been the topic of several other reports. Royal Bank of Canada restated an “outperform” rating and issued a $54.00 price target on shares of Intellia Therapeutics in a research report on Thursday, September 19th. Wells Fargo & Company decreased their target price on Intellia Therapeutics from $70.00 to $60.00 and set an “overweight” rating on the stock in a research report on Friday. The Goldman Sachs Group decreased their price objective on Intellia Therapeutics from $31.00 to $20.00 and set a “neutral” rating on the stock in a report on Friday, October 25th. StockNews.com raised Intellia Therapeutics to a “sell” rating in a research report on Friday, November 8th. Finally, Barclays lowered their price target on shares of Intellia Therapeutics from $76.00 to $55.00 and set an “overweight” rating on the stock in a report on Friday, November 8th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $52.81.

Insider Buying and Selling at Intellia Therapeutics

In other news, CEO John M. Leonard sold 26,807 shares of the stock in a transaction 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 sale, the chief executive officer now owns 941,115 shares in the company, 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold a total of 28,735 shares of company stock worth $349,909 over the last ninety days. Corporate insiders own 3.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Franklin Resources Inc. lifted its holdings in Intellia Therapeutics by 10.3% during the 3rd quarter. Franklin Resources Inc. now owns 16,405 shares of the company’s stock worth $320,000 after buying an additional 1,538 shares in the last quarter. Sanctuary Advisors LLC increased its position in Intellia Therapeutics by 147.9% in the third quarter. Sanctuary Advisors LLC now owns 53,590 shares of the company’s stock worth $1,101,000 after purchasing an additional 31,976 shares during the period. Virtu Financial LLC acquired a new stake in Intellia Therapeutics in the third quarter worth about $417,000. Geode Capital Management LLC raised its holdings in Intellia Therapeutics by 2.2% during the 3rd quarter. Geode Capital Management LLC now owns 2,343,310 shares of the company’s stock worth $48,164,000 after purchasing an additional 49,367 shares during the last quarter. Finally, Barclays PLC lifted its position in Intellia Therapeutics by 17.7% during the 3rd quarter. Barclays PLC now owns 292,795 shares of the company’s stock valued at $6,017,000 after purchasing an additional 44,022 shares during the period. Institutional investors and hedge funds own 88.77% of the company’s stock.

Intellia Therapeutics Trading Down 15.1 %

The firm’s 50 day moving average price is $13.77 and its 200-day moving average price is $18.99. The company has a market cap of $1.04 billion, a P/E ratio of -1.87 and a beta of 1.83.

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

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.