Intellia Therapeutics (NASDAQ:NTLA) Hits New 12-Month Low – Here’s Why

Intellia Therapeutics, Inc. (NASDAQ:NTLA)’s stock price hit a new 52-week low on Thursday . The company traded as low as $16.25 and last traded at $16.65, with a volume of 389198 shares. The stock had previously closed at $19.94.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Stifel Nicolaus decreased their price objective on shares of Intellia Therapeutics from $80.00 to $64.00 and set a “buy” rating for the company in a report on Wednesday, September 11th. JPMorgan Chase & Co. lowered their price target on shares of Intellia Therapeutics from $61.00 to $55.00 and set an “overweight” rating on the stock in a report on Monday, August 12th. Evercore ISI upgraded Intellia Therapeutics to a “strong-buy” rating in a research note on Friday, August 9th. StockNews.com raised Intellia Therapeutics to a “sell” rating in a research report on Thursday, June 27th. Finally, Canaccord Genuity Group restated a “buy” rating and issued a $73.00 target price on shares of Intellia Therapeutics in a research note on Thursday, June 27th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Intellia Therapeutics presently has an average rating of “Moderate Buy” and an average price target of $61.77.

Intellia Therapeutics Price Performance

The business’s fifty day moving average price is $20.98 and its 200-day moving average price is $22.87. The stock has a market capitalization of $1.62 billion, a PE ratio of -3.08 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) EPS for the quarter, missing the consensus estimate of ($1.23) by ($0.29). The business had revenue of $7.00 million for the quarter, compared to analysts’ expectations of $19.68 million. Intellia Therapeutics’s revenue for the quarter was down 48.5% on a year-over-year basis. During the same period last year, the firm posted ($1.40) earnings per share. On average, analysts expect that Intellia Therapeutics, Inc. will post -5.22 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Intellia Therapeutics news, CAO Michael P. Dube sold 2,012 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $19.01, for a total value of $38,248.12. Following the sale, the chief accounting officer now owns 47,012 shares of the company’s stock, valued at $893,698.12. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 3.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Intellia Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of NTLA. Vanguard Group Inc. increased its holdings in shares of Intellia Therapeutics by 8.9% in the 1st quarter. Vanguard Group Inc. now owns 9,093,712 shares of the company’s stock worth $250,168,000 after buying an additional 746,263 shares during the last quarter. ARK Investment Management LLC raised its position in Intellia Therapeutics by 5.5% during the second quarter. ARK Investment Management LLC now owns 11,595,789 shares of the company’s stock valued at $259,514,000 after purchasing an additional 606,507 shares in the last quarter. Federated Hermes Inc. lifted its stake in Intellia Therapeutics by 19.2% during the second quarter. Federated Hermes Inc. now owns 2,300,889 shares of the company’s stock worth $51,494,000 after purchasing an additional 371,189 shares during the last quarter. Opaleye Management Inc. boosted its holdings in shares of Intellia Therapeutics by 157.6% in the 1st quarter. Opaleye Management Inc. now owns 255,000 shares of the company’s stock worth $7,015,000 after purchasing an additional 156,000 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Intellia Therapeutics by 8.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,324,561 shares of the company’s stock worth $29,648,000 after purchasing an additional 98,865 shares in the last quarter. 88.77% of the stock is 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.