Intellia Therapeutics (NASDAQ:NTLA) Shares Down 4.9% – Here’s What Happened

Intellia Therapeutics, Inc. (NASDAQ:NTLA)’s stock price was down 4.9% during trading on Wednesday . The stock traded as low as $6.90 and last traded at $7.00. Approximately 250,039 shares changed hands during mid-day trading, a decline of 89% from the average daily volume of 2,319,566 shares. The stock had previously closed at $7.36.

Analyst Ratings Changes

Several research firms have weighed in on NTLA. BMO Capital Markets lowered their price objective on shares of Intellia Therapeutics from $70.00 to $50.00 and set an “outperform” rating on the stock in a research report on Friday, January 10th. Oppenheimer cut their target price on shares of Intellia Therapeutics from $60.00 to $40.00 and set an “outperform” rating for the company in a research report on Monday, January 13th. HC Wainwright started coverage on shares of Intellia Therapeutics in a report on Wednesday, March 5th. They set a “buy” rating and a $30.00 price target on the stock. Barclays cut their price objective on Intellia Therapeutics from $55.00 to $26.00 and set an “overweight” rating for the company in a report on Friday, February 28th. Finally, 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 research note on Friday, February 28th. Two analysts have rated the stock with a sell rating, six have given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $37.56.

Intellia Therapeutics Price Performance

The stock has a 50 day moving average price of $9.03 and a two-hundred day moving average price of $12.41. The company has a market capitalization of $712.20 million, a price-to-earnings ratio of -1.26 and a beta of 2.23.

Institutional Trading of Intellia Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Stifel Financial Corp raised its position in shares of Intellia Therapeutics by 3.4% during the third quarter. Stifel Financial Corp now owns 94,610 shares of the company’s stock worth $1,944,000 after acquiring an additional 3,102 shares during the last quarter. Barclays PLC lifted its position in Intellia Therapeutics by 17.7% during the 3rd quarter. Barclays PLC now owns 292,795 shares of the company’s stock valued at $6,017,000 after purchasing an additional 44,022 shares during the period. Geode Capital Management LLC boosted its stake in shares of Intellia Therapeutics by 2.2% in the 3rd quarter. Geode Capital Management LLC now owns 2,343,310 shares of the company’s stock valued at $48,164,000 after purchasing an additional 49,367 shares during the last quarter. Virtu Financial LLC acquired a new stake in shares of Intellia Therapeutics during the 3rd quarter worth approximately $417,000. Finally, Sanctuary Advisors LLC raised its stake in shares of Intellia Therapeutics by 147.9% during the third quarter. Sanctuary Advisors LLC now owns 53,590 shares of the company’s stock worth $1,101,000 after buying an additional 31,976 shares during the last quarter. Institutional investors and hedge funds own 88.77% of the company’s stock.

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.