Intellia Therapeutics (NASDAQ:NTLA) Shares Down 6.4% – Time to Sell?

Intellia Therapeutics, Inc. (NASDAQ:NTLA) dropped 6.4% during mid-day trading on Tuesday . The stock traded as low as $8.94 and last traded at $8.97. Approximately 316,236 shares traded hands during mid-day trading, a decline of 85% from the average daily volume of 2,071,927 shares. The stock had previously closed at $9.58.

Wall Street Analysts Forecast Growth

NTLA has been the topic of several analyst reports. Barclays dropped their target price on shares of Intellia Therapeutics from $55.00 to $26.00 and set an “overweight” rating on the stock in a research note on Friday, February 28th. Wedbush reiterated a “neutral” rating and issued a $10.00 target price (down previously from $14.00) on shares of Intellia Therapeutics in a research note on Friday, January 10th. Citigroup upped their target price on shares of Intellia Therapeutics from $12.00 to $14.00 and gave the stock a “neutral” rating in a research note on Friday, February 28th. Morgan Stanley downgraded shares of Intellia Therapeutics from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $56.00 to $11.00 in a research report on Monday, January 27th. Finally, Wells Fargo & Company lowered their price objective on shares of Intellia Therapeutics from $60.00 to $50.00 and set an “overweight” rating on the stock in a research report on Friday, February 28th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $37.56.

Intellia Therapeutics Price Performance

The firm has a market capitalization of $962.71 million, a P/E ratio of -1.71 and a beta of 1.97. The company’s 50-day simple moving average is $10.18 and its two-hundred day simple moving average is $14.37.

Insiders Place Their Bets

In other news, CEO John M. Leonard sold 26,807 shares of the stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $12.18, for a total value 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 $11,462,780.70. This represents a 2.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last ninety days, insiders have sold 29,000 shares of company stock worth $352,551. Company insiders own 3.20% of the company’s stock.

Institutional Trading of Intellia Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Capstone Investment Advisors LLC increased its stake in shares of Intellia Therapeutics by 1.4% in the third quarter. Capstone Investment Advisors LLC now owns 61,129 shares of the company’s stock worth $1,256,000 after purchasing an additional 831 shares in the last quarter. KBC Group NV increased its stake in shares of Intellia Therapeutics by 37.3% in the third quarter. KBC Group NV now owns 3,753 shares of the company’s stock worth $77,000 after purchasing an additional 1,020 shares in the last quarter. Ensign Peak Advisors Inc increased its stake in shares of Intellia Therapeutics by 2.9% in the fourth quarter. Ensign Peak Advisors Inc now owns 39,169 shares of the company’s stock worth $457,000 after purchasing an additional 1,100 shares in the last quarter. Franklin Resources Inc. increased its stake in shares of Intellia Therapeutics by 10.3% in the third quarter. Franklin Resources Inc. now owns 16,405 shares of the company’s stock worth $320,000 after purchasing an additional 1,538 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of Intellia Therapeutics by 14.0% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 12,863 shares of the company’s stock worth $157,000 after purchasing an additional 1,582 shares in the last quarter. 88.77% of the stock is owned by hedge funds and other 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.