Intellia Therapeutics (NASDAQ:NTLA) Hits New 12-Month Low – Here’s Why

Intellia Therapeutics, Inc. (NASDAQ:NTLA)’s share price hit a new 52-week low on Tuesday . The stock traded as low as $6.73 and last traded at $6.72, with a volume of 815582 shares. The stock had previously closed at $7.11.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Oppenheimer cut their target price on shares of Intellia Therapeutics from $60.00 to $40.00 and set an “outperform” rating for the company in a research note on Monday, January 13th. HC Wainwright started coverage on Intellia Therapeutics in a research report on Wednesday, March 5th. They issued a “buy” rating and a $30.00 price objective for the company. JPMorgan Chase & Co. restated a “neutral” rating and set a $13.00 target price (down previously from $45.00) on shares of Intellia Therapeutics in a report on Friday, February 28th. Wells Fargo & Company cut their price target on Intellia Therapeutics from $60.00 to $50.00 and set an “overweight” rating for the company in a report on Friday, February 28th. Finally, Morgan Stanley lowered shares of Intellia Therapeutics from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $56.00 to $11.00 in a report on Monday, January 27th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Intellia Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $37.56.

Intellia Therapeutics Stock Up 9.6 %

The stock has a market cap of $755.67 million, a P/E ratio of -1.34 and a beta of 2.23. The stock has a fifty day simple moving average of $9.79 and a 200-day simple moving average of $13.48.

Insider Activity at Intellia Therapeutics

In other news, CEO John M. Leonard sold 26,807 shares of Intellia Therapeutics stock in a transaction 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 transaction, the chief executive officer now directly owns 941,115 shares of the company’s stock, valued at $11,462,780.70. This trade represents a 2.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last 90 days, insiders sold 28,444 shares of company stock worth $345,862. 3.20% of the stock is currently owned by company insiders.

Institutional Trading of Intellia Therapeutics

Several hedge funds have recently added to or reduced their stakes in NTLA. GF Fund Management CO. LTD. bought a new stake in shares of Intellia Therapeutics in the fourth quarter worth about $25,000. Sterling Capital Management LLC grew its position in shares of Intellia Therapeutics by 866.2% in 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 during the period. Whipplewood Advisors LLC acquired a new stake in Intellia Therapeutics during the 4th quarter worth approximately $40,000. Resona Asset Management Co. Ltd. bought a new position in Intellia Therapeutics in the fourth quarter valued at approximately $43,000. Finally, Jones Financial Companies Lllp boosted its holdings in shares of Intellia Therapeutics by 140.9% in the fourth 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 during the period. Institutional investors and hedge funds own 88.77% of the company’s stock.

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.