Intellia Therapeutics (NASDAQ:NTLA) Reaches New 52-Week Low – What’s Next?

Shares of Intellia Therapeutics, Inc. (NASDAQ:NTLA) hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $8.30 and last traded at $8.32, with a volume of 1486287 shares changing hands. The stock had previously closed at $8.73.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on NTLA. Citigroup lifted their price target on Intellia Therapeutics from $12.00 to $14.00 and gave the stock a “neutral” rating in a report on Friday, February 28th. Morgan Stanley lowered Intellia Therapeutics from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $56.00 to $11.00 in a report on Monday, January 27th. Chardan Capital cut their price target on Intellia Therapeutics from $91.00 to $68.00 and set a “buy” rating for the company in a report on Friday, February 28th. Oppenheimer decreased their price objective on shares of Intellia Therapeutics from $60.00 to $40.00 and set an “outperform” rating on the stock in a report on Monday, January 13th. Finally, HC Wainwright assumed coverage on shares of Intellia Therapeutics in a research report on Wednesday, March 5th. They issued a “buy” rating and a $30.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Intellia Therapeutics presently has an average rating of “Moderate Buy” and a consensus price target of $37.56.

Intellia Therapeutics Stock Down 6.8 %

The business’s 50 day simple moving average is $10.05 and its two-hundred day simple moving average is $13.97. The stock has a market cap of $842.11 million, a P/E ratio of -1.50 and a beta of 1.97.

Insiders Place Their Bets

In other news, CEO John M. Leonard sold 26,807 shares of the business’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $12.18, for a total transaction of $326,509.26. Following the sale, the chief executive officer now directly owns 941,115 shares in the company, valued at approximately $11,462,780.70. The trade was a 2.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders sold a total of 29,000 shares of company stock valued at $352,551 in the last 90 days. Corporate insiders own 3.20% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Capstone Investment Advisors LLC boosted its position in shares of Intellia Therapeutics by 1.4% during the 3rd quarter. Capstone Investment Advisors LLC now owns 61,129 shares of the company’s stock valued at $1,256,000 after purchasing an additional 831 shares in the last quarter. Ensign Peak Advisors Inc grew its position in shares of Intellia Therapeutics by 2.9% during the 4th quarter. Ensign Peak Advisors Inc now owns 39,169 shares of the company’s stock worth $457,000 after buying an additional 1,100 shares during the period. Franklin Resources Inc. increased its stake in shares of Intellia Therapeutics by 10.3% in the 3rd quarter. Franklin Resources Inc. now owns 16,405 shares of the company’s stock valued at $320,000 after acquiring an additional 1,538 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Intellia Therapeutics by 14.0% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 12,863 shares of the company’s stock valued at $157,000 after acquiring an additional 1,582 shares during the period. Finally, Arizona State Retirement System boosted its stake in Intellia Therapeutics by 6.1% during the fourth quarter. Arizona State Retirement System now owns 28,006 shares of the company’s stock worth $327,000 after acquiring an additional 1,615 shares in the last quarter. Institutional investors own 88.77% of the company’s stock.

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.