Intellia Therapeutics (NASDAQ:NTLA) Stock Price Down 6.4% – Should You Sell?

Intellia Therapeutics, Inc. (NASDAQ:NTLA) traded down 6.4% during mid-day trading on Tuesday . The company traded as low as $8.94 and last traded at $8.97. 316,236 shares changed hands during trading, a decline of 85% from the average session volume of 2,071,927 shares. The stock had previously closed at $9.58.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Morgan Stanley lowered Intellia Therapeutics from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $56.00 to $11.00 in a research report on Monday, January 27th. Chardan Capital dropped their target price on Intellia Therapeutics from $91.00 to $68.00 and set a “buy” rating on the stock in a research report on Friday, February 28th. Wedbush reaffirmed a “neutral” rating and set a $10.00 target price (down from $14.00) on shares of Intellia Therapeutics in a research report on Friday, January 10th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $13.00 target price (down from $45.00) on shares of Intellia Therapeutics in a research report on Friday, February 28th. Finally, The Goldman Sachs Group reissued a “sell” rating and issued a $9.00 price objective on shares of Intellia Therapeutics in a report on Friday, February 28th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $37.56.

Intellia Therapeutics Price Performance

The company has a market capitalization of $966.85 million, a P/E ratio of -1.71 and a beta of 1.97. The company has a fifty day moving average price of $10.30 and a 200 day moving average price of $14.50.

Insider Activity at Intellia Therapeutics

In other news, CEO John M. Leonard sold 26,807 shares of the company’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 value 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 approximately $11,462,780.70. This represents a 2.77 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have sold a total of 29,000 shares of company stock worth $352,551 in the last three months. 3.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Polar Asset Management Partners Inc. boosted its holdings 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 valued at $3,293,000 after acquiring an additional 259,700 shares in the last quarter. GF Fund Management CO. LTD. bought a new stake in Intellia Therapeutics during the fourth quarter worth approximately $25,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings 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 worth $5,634,000 after buying an additional 23,173 shares in the last quarter. Voloridge Investment Management LLC boosted its holdings in Intellia Therapeutics by 226.8% during the fourth quarter. Voloridge Investment Management LLC now owns 1,526,994 shares of the company’s stock worth $17,805,000 after buying an additional 1,059,751 shares in the last quarter. Finally, Vestal Point Capital LP bought a new stake in Intellia Therapeutics during the fourth quarter worth approximately $6,122,000. 88.77% of the stock is currently owned by institutional investors.

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.