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

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

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. HC Wainwright assumed coverage on Intellia Therapeutics in a research report on Wednesday, March 5th. They set a “buy” rating and a $30.00 price objective for the company. StockNews.com upgraded shares of Intellia Therapeutics to a “sell” rating in a research note on Monday, March 3rd. Morgan Stanley downgraded Intellia Therapeutics from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $56.00 to $11.00 in a research report on Monday, January 27th. Chardan Capital cut their price target on Intellia Therapeutics from $91.00 to $68.00 and set a “buy” rating for the company in a report on Friday, February 28th. Finally, Oppenheimer lowered their price objective on Intellia Therapeutics from $60.00 to $40.00 and set an “outperform” rating on the stock in a research report on Monday, January 13th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Intellia Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $37.56.

Intellia Therapeutics Stock Performance

The stock has a market cap of $722.86 million, a P/E ratio of -1.28 and a beta of 1.97. The firm’s 50-day moving average is $9.93 and its two-hundred day moving average is $13.63.

Insider Transactions at Intellia Therapeutics

In related news, CEO John M. Leonard sold 26,807 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 941,115 shares of the company’s stock, valued at $11,462,780.70. The trade was a 2.77 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders sold a total of 29,000 shares of company stock worth $352,551 over the last 90 days. 3.20% of the stock is owned by insiders.

Institutional Trading of Intellia Therapeutics

A number of institutional investors have recently bought and sold shares of NTLA. Regeneron Pharmaceuticals Inc. acquired a new stake in shares of Intellia Therapeutics during the fourth quarter worth $43,177,000. Voloridge Investment Management LLC increased its stake in shares of Intellia Therapeutics by 226.8% in the 4th quarter. Voloridge Investment Management LLC now owns 1,526,994 shares of the company’s stock valued at $17,805,000 after acquiring an additional 1,059,751 shares during the last quarter. Contrarius Group Holdings Ltd acquired a new stake in shares of Intellia Therapeutics in the 4th quarter valued at approximately $11,798,000. Two Sigma Advisers LP boosted its stake in Intellia Therapeutics by 94.5% during the 4th quarter. Two Sigma Advisers LP now owns 1,998,317 shares of the company’s stock worth $23,300,000 after acquiring an additional 970,700 shares during the last quarter. Finally, Two Sigma Investments LP grew its holdings in Intellia Therapeutics by 88.1% during the fourth quarter. Two Sigma Investments LP now owns 1,843,743 shares of the company’s stock valued at $21,498,000 after purchasing an additional 863,363 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.