Intellia Therapeutics (NASDAQ:NTLA) Sets New 1-Year Low – What’s Next?

Intellia Therapeutics, Inc. (NASDAQ:NTLA) shares reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $17.09 and last traded at $17.38, with a volume of 121810 shares. The stock had previously closed at $17.65.

Wall Street Analysts Forecast Growth

NTLA has been the topic of a number of research analyst reports. Royal Bank of Canada reissued an “outperform” rating and issued a $54.00 price target on shares of Intellia Therapeutics in a report on Thursday, September 19th. Cantor Fitzgerald reissued an “overweight” rating and issued a $65.00 price target on shares of Intellia Therapeutics in a report on Monday, June 24th. Evercore ISI raised shares of Intellia Therapeutics to a “strong-buy” rating in a report on Friday, August 9th. StockNews.com raised shares of Intellia Therapeutics to a “sell” rating in a report on Thursday, June 27th. Finally, Stifel Nicolaus cut their price target on shares of Intellia Therapeutics from $80.00 to $64.00 and set a “buy” rating on the stock in a report on Wednesday, September 11th. One analyst has rated the stock with a sell rating, four have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Intellia Therapeutics has an average rating of “Moderate Buy” and a consensus target price of $61.77.

Intellia Therapeutics Stock Performance

The stock has a 50 day moving average of $21.34 and a 200-day moving average of $23.27. The firm has a market capitalization of $1.89 billion, a P/E ratio of -3.39 and a beta of 1.76.

Intellia Therapeutics (NASDAQ:NTLA) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($1.52) earnings per share for the quarter, missing the consensus estimate of ($1.23) by ($0.29). The firm had revenue of $7.00 million during the quarter, compared to analysts’ expectations of $19.68 million. During the same quarter in the previous year, the company posted ($1.40) EPS. The firm’s revenue for the quarter was down 48.5% on a year-over-year basis. As a group, sell-side analysts expect that Intellia Therapeutics, Inc. will post -5.22 EPS for the current year.

Insider Buying and Selling

In related news, CAO Michael P. Dube sold 2,012 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $19.01, for a total value of $38,248.12. Following the transaction, the chief accounting officer now directly owns 47,012 shares in the company, valued at approximately $893,698.12. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 3.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. First Horizon Advisors Inc. increased its position in shares of Intellia Therapeutics by 22.1% in the second quarter. First Horizon Advisors Inc. now owns 2,604 shares of the company’s stock worth $58,000 after purchasing an additional 472 shares during the last quarter. Elmwood Wealth Management Inc. boosted its stake in Intellia Therapeutics by 0.9% in the third quarter. Elmwood Wealth Management Inc. now owns 67,774 shares of the company’s stock worth $1,393,000 after buying an additional 600 shares in the last quarter. Interchange Capital Partners LLC boosted its stake in Intellia Therapeutics by 6.5% in the first quarter. Interchange Capital Partners LLC now owns 10,909 shares of the company’s stock worth $303,000 after buying an additional 670 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in Intellia Therapeutics by 9.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 8,894 shares of the company’s stock worth $245,000 after buying an additional 750 shares in the last quarter. Finally, Axxcess Wealth Management LLC boosted its stake in Intellia Therapeutics by 6.5% in the first quarter. Axxcess Wealth Management LLC now owns 16,602 shares of the company’s stock worth $457,000 after buying an additional 1,010 shares in the last quarter. 88.77% of the stock is currently owned by 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.