Intellia Therapeutics (NASDAQ:NTLA) Trading Down 6.1% Following Analyst Downgrade

Intellia Therapeutics, Inc. (NASDAQ:NTLA)’s stock price was down 6.1% on Tuesday after Guggenheim lowered their price target on the stock from $55.00 to $45.00. Guggenheim currently has a buy rating on the stock. Intellia Therapeutics traded as low as $8.00 and last traded at $8.03. Approximately 1,721,555 shares were traded during mid-day trading, a decline of 31% from the average daily volume of 2,479,019 shares. The stock had previously closed at $8.55.

A number of other brokerages have also weighed in on NTLA. Oppenheimer lowered their price target on shares of Intellia Therapeutics from $60.00 to $40.00 and set an “outperform” rating for the company in a report on Monday, January 13th. Barclays dropped their target price on Intellia Therapeutics from $55.00 to $26.00 and set an “overweight” rating for the company in a research report on Friday, February 28th. Chardan Capital reaffirmed a “buy” rating and issued a $68.00 price objective on shares of Intellia Therapeutics in a research note on Friday, May 9th. Wolfe Research raised Intellia Therapeutics from a “peer perform” rating to an “outperform” rating and set a $21.00 price target for the company in a research note on Monday, April 21st. Finally, The Goldman Sachs Group reissued a “sell” rating and set a $9.00 price objective on shares of Intellia Therapeutics in a research note on Friday, February 28th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $36.90.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Ensign Peak Advisors Inc grew 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 valued at $457,000 after buying an additional 1,100 shares in the last quarter. HighTower Advisors LLC grew its holdings in Intellia Therapeutics by 8.2% during the first quarter. HighTower Advisors LLC now owns 16,921 shares of the company’s stock worth $120,000 after purchasing an additional 1,282 shares during the period. Allspring Global Investments Holdings LLC raised its stake in Intellia Therapeutics by 14.0% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 12,863 shares of the company’s stock valued at $157,000 after buying an additional 1,582 shares during the period. Arizona State Retirement System boosted its stake in shares of Intellia Therapeutics by 6.1% during the 4th quarter. Arizona State Retirement System now owns 28,006 shares of the company’s stock worth $327,000 after acquiring an additional 1,615 shares during the period. Finally, E Fund Management Co. Ltd. increased its holdings in shares of Intellia Therapeutics by 10.0% during the 4th quarter. E Fund Management Co. Ltd. now owns 18,053 shares of the company’s stock worth $210,000 after acquiring an additional 1,634 shares during the last quarter. 88.77% of the stock is currently owned by institutional investors.

Intellia Therapeutics Trading Down 5.3%

The firm has a market cap of $816.23 million, a P/E ratio of -1.45 and a beta of 2.33. The business has a 50 day moving average of $8.08 and a two-hundred day moving average of $10.90.

Intellia Therapeutics (NASDAQ:NTLA) last released its quarterly earnings results on Thursday, May 8th. The company reported ($1.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.26) by $0.16. The firm had revenue of $16.63 million during the quarter, compared to the consensus estimate of $11.39 million. The business’s revenue for the quarter was down 42.6% compared to the same quarter last year. During the same quarter last year, the firm earned ($1.12) earnings per share. On average, sell-side analysts predict that Intellia Therapeutics, Inc. will post -5.07 EPS for the current year.

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.