Intellia Therapeutics (NASDAQ:NTLA) Trading Down 9.6% – Here’s What Happened

Intellia Therapeutics, Inc. (NASDAQ:NTLA) was down 9.6% during mid-day trading on Monday . The stock traded as low as $7.17 and last traded at $7.30. Approximately 770,895 shares were traded during mid-day trading, a decline of 65% from the average daily volume of 2,185,823 shares. The stock had previously closed at $8.07.

Wall Street Analyst Weigh In

NTLA has been the topic of a number of recent analyst reports. BMO Capital Markets cut their price objective on Intellia Therapeutics from $70.00 to $50.00 and set an “outperform” rating on the stock in a research report on Friday, January 10th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $13.00 target price (down previously from $45.00) on shares of Intellia Therapeutics in a research note on Friday, February 28th. StockNews.com raised shares of Intellia Therapeutics to a “sell” rating in a research note on Monday, March 3rd. HC Wainwright started coverage on Intellia Therapeutics in a report on Wednesday, March 5th. They set a “buy” rating and a $30.00 target price on the stock. Finally, Truist Financial reduced their price target on Intellia Therapeutics from $90.00 to $50.00 and set a “buy” rating on the stock in a research note on Tuesday, March 4th. Two analysts have rated the stock with a sell rating, six have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $37.56.

Intellia Therapeutics Price Performance

The firm has a market cap of $689.42 million, a PE ratio of -1.22 and a beta of 1.97. The company has a 50-day simple moving average of $9.86 and a 200-day simple moving average of $13.52.

Insider Buying and Selling at Intellia Therapeutics

In other news, CEO John M. Leonard sold 26,807 shares of the business’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $12.18, for a total transaction of $326,509.26. Following the completion of the sale, the chief executive officer now directly owns 941,115 shares of the company’s stock, valued at approximately $11,462,780.70. The trade was a 2.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 29,000 shares of company stock valued at $352,551 in the last quarter. 3.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Intellia Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of NTLA. ARK Investment Management LLC raised its holdings in shares of Intellia Therapeutics by 2.3% in the 4th quarter. ARK Investment Management LLC now owns 12,536,386 shares of the company’s stock valued at $146,174,000 after purchasing an additional 280,946 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Intellia Therapeutics by 5.8% during the fourth quarter. Vanguard Group Inc. now owns 10,190,053 shares of the company’s stock worth $118,816,000 after buying an additional 562,249 shares during the period. State Street Corp raised its holdings in Intellia Therapeutics by 17.9% in the third quarter. State Street Corp now owns 5,143,534 shares of the company’s stock worth $105,700,000 after purchasing an additional 780,754 shares in the last quarter. Regeneron Pharmaceuticals Inc. purchased a new stake in shares of Intellia Therapeutics during the fourth quarter valued at about $43,177,000. Finally, Geode Capital Management LLC boosted its holdings in shares of Intellia Therapeutics by 2.0% in the 4th quarter. Geode Capital Management LLC now owns 2,389,240 shares of the company’s stock valued at $27,865,000 after buying an additional 45,930 shares in the last quarter. 88.77% of the stock is owned by institutional investors.

About Intellia Therapeutics

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.