Intellia Therapeutics (NASDAQ:NTLA) Hits New 12-Month Low – Should You Sell?

Shares of Intellia Therapeutics, Inc. (NASDAQ:NTLA) hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $8.30 and last traded at $8.32, with a volume of 1486287 shares. The stock had previously closed at $8.73.

Wall Street Analyst Weigh In

NTLA has been the topic of several recent analyst reports. Oppenheimer cut their target price on Intellia Therapeutics from $60.00 to $40.00 and set an “outperform” rating on the stock in a research note on Monday, January 13th. StockNews.com raised shares of Intellia Therapeutics to a “sell” rating in a report on Monday, March 3rd. Wedbush reiterated a “neutral” rating and issued a $10.00 target price (down previously from $14.00) on shares of Intellia Therapeutics in a research report on Friday, January 10th. Wells Fargo & Company dropped their price target on shares of Intellia Therapeutics from $60.00 to $50.00 and set an “overweight” rating on the stock in a research report on Friday, February 28th. Finally, The Goldman Sachs Group reaffirmed a “sell” rating and issued a $9.00 price target on shares of Intellia Therapeutics in a research note on Friday, February 28th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Intellia Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $37.56.

Intellia Therapeutics Stock Down 3.9 %

The company has a market capitalization of $835.38 million, a price-to-earnings ratio of -1.48 and a beta of 1.97. The business has a 50-day moving average price of $10.01 and a 200-day moving average price of $13.90.

Insiders Place Their Bets

In other Intellia Therapeutics news, CEO John M. Leonard sold 26,807 shares of the firm’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $12.18, for a total value of $326,509.26. Following the completion of the transaction, the chief executive officer now directly owns 941,115 shares in the company, 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 filing with the SEC, which is available through this link. In the last quarter, insiders have sold 29,000 shares of company stock worth $352,551. Company insiders own 3.20% of the company’s stock.

Institutional Investors Weigh In On Intellia Therapeutics

Several hedge funds have recently made changes to their positions in NTLA. Wellington Management Group LLP grew its position in Intellia Therapeutics by 8.5% during the 4th quarter. Wellington Management Group LLP now owns 699,814 shares of the company’s stock worth $8,160,000 after purchasing an additional 55,051 shares in the last quarter. California State Teachers Retirement System boosted its position in shares of Intellia Therapeutics by 4.1% in the fourth quarter. California State Teachers Retirement System now owns 90,638 shares of the company’s stock worth $1,057,000 after buying an additional 3,596 shares during the period. Polar Asset Management Partners Inc. boosted its position in shares of Intellia Therapeutics by 1,144.1% in the fourth quarter. Polar Asset Management Partners Inc. now owns 282,400 shares of the company’s stock worth $3,293,000 after buying an additional 259,700 shares during the period. GF Fund Management CO. LTD. purchased a new position in shares of Intellia Therapeutics during the fourth quarter valued at $25,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Intellia Therapeutics by 5.0% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 483,185 shares of the company’s stock valued at $5,634,000 after buying an additional 23,173 shares during the period. Hedge funds and other institutional investors own 88.77% of the company’s stock.

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.