Intellia Therapeutics (NASDAQ:NTLA) Hits New 12-Month Low – Here’s Why

Shares of Intellia Therapeutics, Inc. (NASDAQ:NTLA) reached a new 52-week low during trading on Thursday . The stock traded as low as $16.25 and last traded at $16.65, with a volume of 389198 shares. The stock had previously closed at $19.94.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Stifel Nicolaus cut their price objective on shares of Intellia Therapeutics from $80.00 to $64.00 and set a “buy” rating for the company in a research note on Wednesday, September 11th. Evercore ISI raised Intellia Therapeutics to a “strong-buy” rating in a research note on Friday, August 9th. JPMorgan Chase & Co. decreased their price objective on Intellia Therapeutics from $61.00 to $55.00 and set an “overweight” rating on the stock in a report on Monday, August 12th. Royal Bank of Canada restated an “outperform” rating and set a $54.00 target price on shares of Intellia Therapeutics in a report on Thursday, September 19th. Finally, StockNews.com raised Intellia Therapeutics to a “sell” rating in a research note on Thursday, June 27th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $61.77.

Intellia Therapeutics Stock Down 15.9 %

The company has a market cap of $1.62 billion, a P/E ratio of -3.08 and a beta of 1.76. The business has a fifty day moving average of $20.98 and a 200 day moving average of $22.87.

Intellia Therapeutics (NASDAQ:NTLA) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($1.52) EPS for the quarter, missing the consensus estimate of ($1.23) by ($0.29). The business had revenue of $7.00 million for the quarter, compared to analyst estimates of $19.68 million. The company’s quarterly revenue was down 48.5% on a year-over-year basis. During the same period in the previous year, the business earned ($1.40) EPS. On average, sell-side analysts anticipate that Intellia Therapeutics, Inc. will post -5.22 EPS for the current fiscal year.

Insiders Place Their Bets

In other Intellia Therapeutics news, CAO Michael P. Dube sold 2,012 shares of Intellia Therapeutics stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $19.01, for a total transaction of $38,248.12. Following the sale, the chief accounting officer now directly owns 47,012 shares of the company’s stock, valued at approximately $893,698.12. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 3.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Intellia Therapeutics

Several hedge funds have recently made changes to their positions in the company. First Horizon Advisors Inc. grew its stake in Intellia Therapeutics by 22.1% in the second quarter. First Horizon Advisors Inc. now owns 2,604 shares of the company’s stock worth $58,000 after purchasing an additional 472 shares during the period. Elmwood Wealth Management Inc. grew its position in shares of Intellia Therapeutics by 0.9% in the 3rd quarter. Elmwood Wealth Management Inc. now owns 67,774 shares of the company’s stock worth $1,393,000 after buying an additional 600 shares during the period. Interchange Capital Partners LLC increased its stake in shares of Intellia Therapeutics by 6.5% in the 1st quarter. Interchange Capital Partners LLC now owns 10,909 shares of the company’s stock worth $303,000 after acquiring an additional 670 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of Intellia Therapeutics by 9.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 8,894 shares of the company’s stock worth $245,000 after acquiring an additional 750 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in Intellia Therapeutics by 27.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,674 shares of the company’s stock worth $77,000 after acquiring an additional 794 shares in the last quarter. 88.77% of the stock is currently 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.