Intellia Therapeutics (NASDAQ:NTLA) Reaches New 12-Month Low – What’s Next?

Intellia Therapeutics, Inc. (NASDAQ:NTLA)’s share price hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $9.21 and last traded at $9.35, with a volume of 302791 shares trading hands. The stock had previously closed at $9.58.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on NTLA. BMO Capital Markets dropped their price objective on shares of Intellia Therapeutics from $70.00 to $50.00 and set an “outperform” rating on the stock in a report on Friday, January 10th. Chardan Capital boosted their price target on Intellia Therapeutics from $88.00 to $91.00 and gave the company a “buy” rating in a research note on Monday, November 18th. StockNews.com raised Intellia Therapeutics to a “sell” rating in a report on Friday, November 8th. Barclays cut their price target on shares of Intellia Therapeutics from $76.00 to $55.00 and set an “overweight” rating on the stock in a report on Friday, November 8th. Finally, Robert W. Baird cut their price objective on shares of Intellia Therapeutics from $24.00 to $18.00 and set a “neutral” rating on the stock in a research note on Friday, October 25th. One analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $48.71.

Intellia Therapeutics Stock Performance

The company has a market capitalization of $940.08 million, a PE ratio of -1.69 and a beta of 1.80. The company has a 50 day simple moving average of $11.74 and a 200 day simple moving average of $16.93.

Insider Buying and Selling

In other Intellia Therapeutics news, CEO John M. Leonard sold 26,807 shares of the firm’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $12.18, for a total value of $326,509.26. Following the transaction, the chief executive officer now owns 941,115 shares in the company, valued at approximately $11,462,780.70. This trade represents a 2.77 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last ninety days, insiders sold 29,000 shares of company stock worth $352,551. 3.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Intellia Therapeutics

A number of hedge funds have recently modified their holdings of the business. Regeneron Pharmaceuticals Inc. acquired a new position in Intellia Therapeutics during the fourth quarter worth about $43,177,000. Contrarius Group Holdings Ltd purchased a new position in Intellia Therapeutics in the 4th quarter worth approximately $11,798,000. State Street Corp boosted its holdings in shares of Intellia Therapeutics by 17.9% during the 3rd quarter. State Street Corp now owns 5,143,534 shares of the company’s stock worth $105,700,000 after purchasing an additional 780,754 shares during the last quarter. ARK Investment Management LLC grew its position in shares of Intellia Therapeutics by 5.7% in the third quarter. ARK Investment Management LLC now owns 12,255,440 shares of the company’s stock valued at $251,849,000 after purchasing an additional 659,651 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of Intellia Therapeutics in the fourth quarter valued at approximately $4,793,000. 88.77% of the stock is currently owned by institutional investors and hedge funds.

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.