Intellia Therapeutics (NASDAQ:NTLA) Share Price Crosses Above Fifty Day Moving Average – Should You Sell?

Intellia Therapeutics, Inc. (NASDAQ:NTLA)’s share price passed above its fifty day moving average during trading on Tuesday. The stock has a fifty day moving average of $12.20 and traded as high as $12.31. Intellia Therapeutics shares last traded at $12.28, with a volume of 3,844,222 shares.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Wolfe Research downgraded Intellia Therapeutics from a “peer perform” rating to an “underperform” rating and set a $9.00 price target for the company. in a research note on Wednesday, July 15th. Wedbush lifted their price target on shares of Intellia Therapeutics from $12.00 to $13.00 and gave the company a “neutral” rating in a report on Wednesday, September 9th. Barclays began coverage on shares of Intellia Therapeutics in a research note on Tuesday, October 6th. They set an “underweight” rating and a $8.00 target price on the stock. HC Wainwright reiterated a “buy” rating and issued a $25.00 target price on shares of Intellia Therapeutics in a research report on Wednesday, September 9th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Intellia Therapeutics in a research report on Thursday, October 15th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, seven have assigned a Hold rating and five have given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $20.57.

Intellia Therapeutics Stock Down 0.7%

The firm’s 50 day simple moving average is $12.23 and its two-hundred day simple moving average is $13.06.

Intellia Therapeutics (NASDAQ:NTLA) last issued its earnings results on Thursday, August 6th. The company reported ($0.80) EPS for the quarter, meeting the consensus estimate of ($0.80). Intellia Therapeutics had a negative return on equity of 57.79% and a negative net margin of 672.16%. The company had revenue of $7.66 million during the quarter, compared to the consensus estimate of $12.98 million. During the same period last year, the business posted ($0.98) EPS. The firm’s revenue for the quarter was down 46.4% compared to the same quarter last year. On average, equities research analysts predict that Intellia Therapeutics, Inc. will post -3.21 EPS for the current year.

Institutional Trading of Intellia Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of the stock. Bank of America Corp DE boosted its holdings in Intellia Therapeutics by 11.2% in the 1st quarter. Bank of America Corp DE now owns 1,381,703 shares of the company’s stock valued at $17,713,000 after purchasing an additional 139,325 shares during the period. Royal Bank of Canada grew its position in shares of Intellia Therapeutics by 1,082.1% during the 1st quarter. Royal Bank of Canada now owns 465,499 shares of the company’s stock valued at $5,968,000 after purchasing an additional 426,121 shares in the last quarter. Headlands Technologies LLC purchased a new position in shares of Intellia Therapeutics during the 2nd quarter valued at $1,595,000. BlackRock Inc. bought a new position in shares of Intellia Therapeutics in the second quarter worth $260,721,000. Finally, Bank of New York Mellon Corp bought a new position in shares of Intellia Therapeutics in the second quarter worth $6,948,000. 88.77% of the stock is owned by hedge funds and other institutional investors.

Intellia Therapeutics Company Profile

Intellia Therapeutics, Inc is a biotechnology company focused on developing potentially curative treatments using CRISPR-based gene-editing technology. The company is working to create therapies that can modify disease-causing genes inside the body, with the goal of addressing the underlying causes of serious genetic diseases rather than treating only their symptoms.

Intellia’s pipeline has included NTLA-2001, an investigational in vivo gene-editing therapy designed to reduce production of transthyretin for the treatment of transthyretin amyloidosis, and NTLA-2002, an investigational therapy intended to target hereditary angioedema.