Intellia Therapeutics (NASDAQ:NTLA) Shares Down 6.4% – Here’s What Happened

Shares of Intellia Therapeutics, Inc. (NASDAQ:NTLA) were down 6.4% during mid-day trading on Thursday . The stock traded as low as $12.53 and last traded at $12.4360. 677,089 shares were traded during trading, a decline of 87% from the average session volume of 5,288,615 shares. The stock had previously closed at $13.28.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Citizens Jmp reiterated a “market outperform” rating and set a $30.00 target price on shares of Intellia Therapeutics in a research report on Monday, June 15th. Canaccord Genuity Group reissued a “buy” rating and issued a $49.00 target price on shares of Intellia Therapeutics in a research report on Tuesday, June 16th. New Street Research set a $25.00 price target on Intellia Therapeutics in a research note on Monday, June 15th. HC Wainwright reaffirmed a “buy” rating and set a $25.00 price target on shares of Intellia Therapeutics in a research report on Monday, June 15th. Finally, Wolfe Research cut Intellia Therapeutics from a “peer perform” rating to an “underperform” rating and set a $9.00 price objective for the company. in a research note on Wednesday, July 15th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, eight have issued a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $21.15.

Intellia Therapeutics Stock Performance

The company has a market capitalization of $1.80 billion, a PE ratio of -3.82 and a beta of 1.81. The company’s 50-day simple moving average is $13.47 and its 200-day simple moving average is $13.35.

Intellia Therapeutics (NASDAQ:NTLA) last announced its earnings results on Thursday, August 6th. The company reported ($0.80) EPS for the quarter, meeting analysts’ consensus estimates of ($0.80). Intellia Therapeutics had a negative net margin of 672.16% and a negative return on equity of 57.79%. The business had revenue of $7.66 million during the quarter, compared to analysts’ expectations of $12.98 million. During the same period in the prior year, the company earned ($0.98) earnings per share. The business’s revenue was down 46.4% compared to the same quarter last year. Analysts expect that Intellia Therapeutics, Inc. will post -3.21 EPS for the current year.

Insider Activity

In other Intellia Therapeutics news, CAO Michael P. Dube sold 2,641 shares of the stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $16.78, for a total transaction of $44,315.98. Following the completion of the sale, the chief accounting officer directly owned 66,886 shares of the company’s stock, valued at approximately $1,122,347.08. This trade represents a 3.80% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Edward J. Dulac III sold 4,677 shares of Intellia Therapeutics stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $18.00, for a total value of $84,186.00. Following the completion of the transaction, the executive vice president owned 156,286 shares in the company, valued at $2,813,148. This trade represents a 2.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 3.50% of the company’s stock.

Institutional Investors Weigh In On Intellia Therapeutics

Hedge funds have recently modified their holdings of the stock. AQR Capital Management LLC grew its position in Intellia Therapeutics by 154.1% in the 1st quarter. AQR Capital Management LLC now owns 90,875 shares of the company’s stock valued at $646,000 after buying an additional 55,118 shares during the last quarter. Woodline Partners LP acquired a new position in Intellia Therapeutics in the 1st quarter valued at $171,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Intellia Therapeutics by 8.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 521,706 shares of the company’s stock worth $3,709,000 after buying an additional 38,521 shares during the last quarter. Creative Planning raised its position in Intellia Therapeutics by 12.9% during the 2nd quarter. Creative Planning now owns 33,102 shares of the company’s stock worth $310,000 after buying an additional 3,795 shares during the last quarter. Finally, Cetera Investment Advisers lifted its stake in shares of Intellia Therapeutics by 47.4% in the 2nd quarter. Cetera Investment Advisers now owns 33,532 shares of the company’s stock worth $315,000 after acquiring an additional 10,785 shares during the period. 88.77% of the stock is owned by institutional investors and hedge funds.

Intellia Therapeutics Company Profile

Intellia Therapeutics, Inc (NASDAQ: NTLA) is a clinical‐stage biotechnology company focused on developing potentially curative genome editing therapies using the CRISPR/Cas9 platform. The company’s research spans both in vivo and ex vivo applications of CRISPR/Cas9, aiming to correct or disable disease‐causing genes with a single administration. Intellia’s lead in vivo program targets transthyretin amyloidosis (ATTR) by delivering CRISPR/Cas9 machinery directly to the liver, while additional preclinical efforts pursue treatments for hemophilia A, hereditary angioedema and other genetic disorders.

Beyond its in vivo pipeline, Intellia collaborates with strategic partners to extend the impact of its genome editing approach.