Intellia Therapeutics (NASDAQ:NTLA) Trading Down 7.1% – Should You Sell?

Shares of Intellia Therapeutics, Inc. (NASDAQ:NTLA) were down 7.1% on Monday . The company traded as low as $9.35 and last traded at $9.59. Approximately 919,634 shares traded hands during trading, a decline of 70% from the average daily volume of 3,027,756 shares. The stock had previously closed at $10.32.

Analyst Upgrades and Downgrades

NTLA has been the topic of a number of recent analyst reports. BMO Capital Markets dropped their target price 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. StockNews.com upgraded Intellia Therapeutics to a “sell” rating in a research report on Friday, November 8th. Oppenheimer decreased their target price on Intellia Therapeutics from $60.00 to $40.00 and set an “outperform” rating for the company in a research report on Monday, January 13th. Morgan Stanley lowered Intellia Therapeutics from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $56.00 to $11.00 in a research report on Monday, January 27th. Finally, William Blair reissued a “neutral” rating and issued a $14.00 price objective on shares of Intellia Therapeutics in a report on Monday, November 18th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $48.71.

Intellia Therapeutics Trading Up 0.8 %

The stock has a 50-day simple moving average of $12.05 and a 200 day simple moving average of $17.26.

Intellia Therapeutics (NASDAQ:NTLA) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($1.34) EPS for the quarter, beating analysts’ consensus estimates of ($1.37) by $0.03. The business had revenue of $9.10 million during the quarter, compared to analyst estimates of $8.28 million. Intellia Therapeutics’s revenue was down 24.1% on a year-over-year basis. During the same period in the previous year, the company posted ($1.38) earnings per share. As a group, equities analysts predict that Intellia Therapeutics, Inc. will post -5.07 EPS for the current year.

Insider Buying and Selling

In related news, CEO John M. Leonard sold 26,807 shares of Intellia Therapeutics 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 completion of the sale, the chief executive officer now owns 941,115 shares in the company, valued at approximately $11,462,780.70. This trade represents a 2.77 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold 29,000 shares of company stock worth $352,551 in the last ninety days. Insiders own 3.20% of the company’s stock.

Institutional Investors Weigh In On Intellia Therapeutics

Hedge funds have recently modified their holdings of the company. Renaissance Technologies LLC purchased a new stake in Intellia Therapeutics in the 2nd quarter worth approximately $866,000. Sei Investments Co. boosted its holdings in shares of Intellia Therapeutics by 24.7% during the second quarter. Sei Investments Co. now owns 9,282 shares of the company’s stock worth $208,000 after purchasing an additional 1,837 shares during the last quarter. Thrivent Financial for Lutherans purchased a new stake in shares of Intellia Therapeutics in the second quarter valued at $679,000. Sanctuary Advisors LLC acquired a new position in Intellia Therapeutics in the second quarter valued at $449,000. Finally, SG Americas Securities LLC lifted its position in Intellia Therapeutics by 289.6% during the third quarter. SG Americas Securities LLC now owns 24,144 shares of the company’s stock worth $496,000 after buying an additional 17,947 shares during the period. 88.77% of the stock is owned by institutional investors and hedge funds.

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.