Intellia Therapeutics (NASDAQ:NTLA) Stock Price Down 7.3% – Time to Sell?

Intellia Therapeutics, Inc. (NASDAQ:NTLA) fell 7.3% during trading on Wednesday . The company traded as low as $19.51 and last traded at $19.54. 966,077 shares changed hands during trading, a decline of 37% from the average session volume of 1,537,756 shares. The stock had previously closed at $21.08.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on NTLA. Stifel Nicolaus dropped their price objective on shares of Intellia Therapeutics from $80.00 to $64.00 and set a “buy” rating on the stock in a research note on Wednesday, September 11th. Evercore ISI upgraded Intellia Therapeutics to a “strong-buy” rating in a research report on Friday, August 9th. JPMorgan Chase & Co. lowered their target price on shares of Intellia Therapeutics from $61.00 to $55.00 and set an “overweight” rating on the stock in a research note on Monday, August 12th. Citigroup lowered their target price on shares of Intellia Therapeutics from $25.00 to $19.00 and set a “neutral” rating on the stock in a research note on Friday. Finally, The Goldman Sachs Group lowered their target price on shares of Intellia Therapeutics from $31.00 to $20.00 and set a “neutral” rating on the stock in a research note on Friday. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $59.13.

Intellia Therapeutics Trading Up 0.6 %

The stock has a market capitalization of $1.62 billion, a PE ratio of -2.91 and a beta of 1.76. The firm’s fifty day moving average is $20.84 and its 200-day moving average is $22.82.

Intellia Therapeutics (NASDAQ:NTLA) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($1.52) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.23) by ($0.29). The business had revenue of $7.00 million for the quarter, compared to the consensus estimate of $19.68 million. Intellia Therapeutics’s revenue for the quarter was down 48.5% on a year-over-year basis. During the same quarter in the previous year, the business earned ($1.40) EPS. As a group, equities analysts predict 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 transaction of $38,248.12. Following the sale, 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 3.20% of the company’s stock.

Institutional Trading of Intellia Therapeutics

Large investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP increased its stake in shares of Intellia Therapeutics by 8.1% during the second quarter. Dimensional Fund Advisors LP now owns 1,324,561 shares of the company’s stock worth $29,648,000 after buying an additional 98,865 shares during the period. Thrivent Financial for Lutherans acquired a new position in Intellia Therapeutics in the second quarter valued at approximately $679,000. American Century Companies Inc. boosted its holdings in Intellia Therapeutics by 23.8% in the second quarter. American Century Companies Inc. now owns 330,514 shares of the company’s stock valued at $7,397,000 after purchasing an additional 63,550 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Intellia Therapeutics by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 8,347,449 shares of the company’s stock valued at $254,514,000 after purchasing an additional 155,579 shares in the last quarter. Finally, Comerica Bank boosted its holdings in Intellia Therapeutics by 853.6% in the first quarter. Comerica Bank now owns 37,105 shares of the company’s stock valued at $1,021,000 after purchasing an additional 33,214 shares in the last quarter. 88.77% of the stock is currently owned by hedge funds and other 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.