Intellia Therapeutics (NTLA) Stock Price Down 9.8% on Insider Selling
Shares of Intellia Therapeutics Inc (NASDAQ:NTLA) traded down 9.8% during mid-day trading on Monday following insider selling activity. The stock traded as low as $18.32 and last traded at $19.14. 1,434,047 shares changed hands during mid-day trading, an increase of 309% from the average session volume of 350,270 shares. The stock had previously closed at $21.22.
Specifically, CEO Nessan Bermingham sold 111,500 shares of the business’s stock in a transaction dated Wednesday, December 6th. The shares were sold at an average price of $20.34, for a total value of $2,267,910.00. Following the completion of the transaction, the chief executive officer now owns 696,000 shares of the company’s stock, valued at approximately $14,156,640. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 12.80% of the company’s stock.
NTLA has been the subject of several recent analyst reports. Jefferies Group set a $42.00 price target on Intellia Therapeutics and gave the company a “buy” rating in a report on Tuesday, October 31st. Zacks Investment Research upgraded Intellia Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday, October 4th. Leerink Swann lifted their price target on Intellia Therapeutics from $29.00 to $37.00 and gave the company an “outperform” rating in a report on Tuesday, October 31st. They noted that the move was a valuation call. Wedbush restated an “ourperform” rating and issued a $25.00 price target (down previously from $29.00) on shares of Intellia Therapeutics in a report on Wednesday, September 27th. Finally, ValuEngine upgraded Intellia Therapeutics from a “sell” rating to a “hold” rating in a report on Friday, September 22nd. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company. Intellia Therapeutics has a consensus rating of “Hold” and an average price target of $30.17.
Intellia Therapeutics (NASDAQ:NTLA) last issued its earnings results on Tuesday, October 31st. The company reported ($0.44) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.50) by $0.06. Intellia Therapeutics had a negative return on equity of 28.01% and a negative net margin of 215.92%. The business had revenue of $7.30 million during the quarter, compared to analysts’ expectations of $5.83 million. During the same quarter in the previous year, the business earned ($0.22) EPS. The company’s revenue for the quarter was up 49.0% on a year-over-year basis. sell-side analysts anticipate that Intellia Therapeutics Inc will post -1.68 earnings per share for the current year.
Several large investors have recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Intellia Therapeutics by 10.2% during the 2nd quarter. Vanguard Group Inc. now owns 997,288 shares of the company’s stock worth $15,957,000 after purchasing an additional 92,580 shares during the period. GMT Capital Corp purchased a new stake in shares of Intellia Therapeutics during the 3rd quarter worth about $8,214,000. Granahan Investment Management Inc. MA grew its holdings in shares of Intellia Therapeutics by 7.0% during the 3rd quarter. Granahan Investment Management Inc. MA now owns 286,144 shares of the company’s stock worth $7,111,000 after purchasing an additional 18,784 shares during the period. Ark Investment Management LLC grew its holdings in shares of Intellia Therapeutics by 118.9% during the 2nd quarter. Ark Investment Management LLC now owns 174,810 shares of the company’s stock worth $2,797,000 after purchasing an additional 94,960 shares during the period. Finally, State Street Corp grew its holdings in shares of Intellia Therapeutics by 52.0% during the 2nd quarter. State Street Corp now owns 164,798 shares of the company’s stock worth $2,638,000 after purchasing an additional 56,363 shares during the period. Institutional investors and hedge funds own 49.55% of the company’s stock.
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About Intellia Therapeutics
Intellia Therapeutics, Inc is a genome editing company. The Company is focused on developing therapeutics utilizing a biological tool known as CRISPR/Cas9. The CRISPR/Cas9 genome editing system includes two components: the Cas9 protein and the guide RNA sequence. The Cas9 protein acts like a pair of molecular scissors that initiates the natural cellular repair process to knockout, repair or insert a gene.
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