Intellia Therapeutics (NASDAQ:NTLA) Shares Down 6.6% – Should You Sell?

Intellia Therapeutics, Inc. (NASDAQ:NTLA)’s stock price dropped 6.6% during mid-day trading on Wednesday . The stock traded as low as $13.86 and last traded at $13.8480. Approximately 2,057,566 shares traded hands during trading, a decline of 70% from the average daily volume of 6,862,582 shares. The stock had previously closed at $14.83.

Analysts Set New Price Targets

Several research firms have weighed in on NTLA. Wells Fargo & Company dropped their price target on Intellia Therapeutics from $17.00 to $12.00 and set an “equal weight” rating for the company in a research note on Friday, November 7th. Oppenheimer set a $27.00 target price on shares of Intellia Therapeutics in a research note on Friday, November 7th. JMP Securities reduced their price target on shares of Intellia Therapeutics from $33.00 to $29.00 and set a “market outperform” rating on the stock in a report on Tuesday, October 28th. Robert W. Baird set a $7.00 price target on shares of Intellia Therapeutics in a research note on Tuesday. Finally, Truist Financial restated a “buy” rating and set a $14.00 price objective (down previously from $25.00) on shares of Intellia Therapeutics in a research report on Monday, November 10th. Nine equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $18.00.

Intellia Therapeutics Trading Down 6.0%

The firm’s 50-day moving average price is $10.11 and its 200-day moving average price is $12.93. The stock has a market capitalization of $1.61 billion, a PE ratio of -3.25 and a beta of 2.05.

Intellia Therapeutics (NASDAQ:NTLA) last released its quarterly earnings results on Thursday, November 6th. The company reported ($0.92) EPS for the quarter, topping the consensus estimate of ($1.02) by $0.10. Intellia Therapeutics had a negative return on equity of 57.01% and a negative net margin of 774.94%.The company had revenue of $13.78 million during the quarter, compared to analyst estimates of $14.12 million. During the same quarter last year, the business posted ($1.34) earnings per share. The firm’s revenue was up 51.6% on a year-over-year basis. On average, equities research analysts predict that Intellia Therapeutics, Inc. will post -5.07 earnings per share for the current fiscal year.

Insider Activity

In other Intellia Therapeutics news, EVP Birgit C. Schultes sold 8,508 shares of Intellia Therapeutics stock in a transaction on Monday, January 5th. The shares were sold at an average price of $9.21, for a total transaction of $78,358.68. Following the completion of the transaction, the executive vice president directly owned 98,533 shares of the company’s stock, valued at $907,488.93. The trade was a 7.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP James Basta sold 10,397 shares of the business’s stock in a transaction on Monday, January 5th. The shares were sold at an average price of $9.21, for a total transaction of $95,756.37. Following the transaction, the executive vice president owned 101,528 shares in the company, valued at $935,072.88. This trade represents a 9.29% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 53,051 shares of company stock valued at $488,600. 3.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Intellia Therapeutics

Large investors have recently made changes to their positions in the company. Schroder Investment Management Group increased its position in shares of Intellia Therapeutics by 1,593.4% during the second quarter. Schroder Investment Management Group now owns 406,425 shares of the company’s stock worth $3,812,000 after acquiring an additional 382,425 shares during the period. D.A. Davidson & CO. boosted its holdings in shares of Intellia Therapeutics by 108.0% in the second quarter. D.A. Davidson & CO. now owns 54,120 shares of the company’s stock valued at $508,000 after purchasing an additional 28,100 shares during the period. Marex Group plc bought a new position in Intellia Therapeutics in the second quarter worth approximately $5,849,000. JPMorgan Chase & Co. increased its holdings in Intellia Therapeutics by 73.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 940,483 shares of the company’s stock worth $8,822,000 after purchasing an additional 396,858 shares during the period. Finally, AXQ Capital LP purchased a new position in Intellia Therapeutics during the 2nd quarter worth $285,000. 88.77% of the stock is owned by hedge funds and other institutional investors.

About Intellia Therapeutics

Intellia Therapeutics, Inc (NASDAQ: NTLA) is a clinical‐stage biotechnology company focused on developing potentially curative genome editing therapies using the CRISPR/Cas9 platform. The company’s research spans both in vivo and ex vivo applications of CRISPR/Cas9, aiming to correct or disable disease‐causing genes with a single administration. Intellia’s lead in vivo program targets transthyretin amyloidosis (ATTR) by delivering CRISPR/Cas9 machinery directly to the liver, while additional preclinical efforts pursue treatments for hemophilia A, hereditary angioedema and other genetic disorders.

Beyond its in vivo pipeline, Intellia collaborates with strategic partners to extend the impact of its genome editing approach.