Intellia Therapeutics (NASDAQ:NTLA) Reaches New 12-Month Low After Analyst Downgrade

Intellia Therapeutics, Inc. (NASDAQ:NTLA)’s share price hit a new 52-week low on Friday after BMO Capital Markets lowered their price target on the stock from $70.00 to $50.00. BMO Capital Markets currently has an outperform rating on the stock. Intellia Therapeutics traded as low as $10.35 and last traded at $10.56, with a volume of 1506684 shares trading hands. The stock had previously closed at $12.02.

NTLA has been the subject of a number of other reports. Canaccord Genuity Group reissued a “buy” rating and issued a $90.00 price target on shares of Intellia Therapeutics in a report on Tuesday, November 19th. Oppenheimer reduced their target price on shares of Intellia Therapeutics from $70.00 to $60.00 and set an “outperform” rating for the company in a report on Monday, November 11th. Wells Fargo & Company dropped their price target on Intellia Therapeutics from $70.00 to $60.00 and set an “overweight” rating on the stock in a report on Friday. Citigroup reduced their target price on Intellia Therapeutics from $25.00 to $19.00 and set a “neutral” rating for the company in a report on Friday, October 25th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $54.00 price objective on shares of Intellia Therapeutics in a research note on Thursday, September 19th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $52.81.

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 transaction of $326,509.26. Following the transaction, the chief executive officer now owns 941,115 shares in the company, valued at $11,462,780.70. This represents a 2.77 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 28,735 shares of company stock valued at $349,909 in the last three months. Insiders own 3.20% of the company’s stock.

Institutional Investors Weigh In On Intellia Therapeutics

A number of large investors have recently bought and sold shares of the business. State Street Corp lifted its position in shares of Intellia Therapeutics by 17.9% in the third quarter. State Street Corp now owns 5,143,534 shares of the company’s stock worth $105,700,000 after buying an additional 780,754 shares during the last quarter. Patient Square Capital LP acquired a new stake in Intellia Therapeutics in the 3rd quarter worth approximately $2,642,000. Dimensional Fund Advisors LP boosted its position in Intellia Therapeutics by 8.1% during the second quarter. Dimensional Fund Advisors LP now owns 1,324,561 shares of the company’s stock worth $29,648,000 after purchasing an additional 98,865 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Intellia Therapeutics by 4.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 827,545 shares of the company’s stock valued at $17,006,000 after purchasing an additional 37,714 shares during the last quarter. Finally, Verition Fund Management LLC raised its position in shares of Intellia Therapeutics by 116.3% in the third quarter. Verition Fund Management LLC now owns 94,426 shares of the company’s stock valued at $1,940,000 after purchasing an additional 50,763 shares during the period. 88.77% of the stock is currently owned by institutional investors.

Intellia Therapeutics Price Performance

The stock’s 50 day moving average price is $13.77 and its two-hundred day moving average price is $18.99. The firm has a market capitalization of $1.04 billion, a price-to-earnings ratio of -1.87 and a beta of 1.83.

Intellia Therapeutics (NASDAQ:NTLA) last released its earnings results on Thursday, November 7th. The company reported ($1.34) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.37) by $0.03. The firm had revenue of $9.10 million for the quarter, compared to analyst estimates of $8.28 million. The firm’s revenue was down 24.1% on a year-over-year basis. During the same period in the prior year, the firm earned ($1.38) EPS. As a group, equities research analysts anticipate that Intellia Therapeutics, Inc. will post -5.12 EPS for the current fiscal year.

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.