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

Intellia Therapeutics, Inc. (NASDAQ:NTLA)’s stock price was down 6.6% during mid-day trading on Wednesday . The company traded as low as $13.86 and last traded at $13.8480. Approximately 2,057,566 shares changed 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.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. HC Wainwright boosted their price objective on shares of Intellia Therapeutics from $15.00 to $25.00 and gave the company a “buy” rating in a research report on Wednesday. Truist Financial restated a “buy” rating and issued a $14.00 price target (down previously from $25.00) on shares of Intellia Therapeutics in a research note on Monday, November 10th. Wolfe Research reiterated a “peer perform” rating on shares of Intellia Therapeutics in a research report on Wednesday, November 12th. Evercore ISI set a $8.00 price objective on Intellia Therapeutics and gave the stock an “in-line” rating in a research note on Tuesday, November 11th. Finally, Oppenheimer set a $27.00 price target on Intellia Therapeutics in a report on Friday, November 7th. Nine investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, Intellia Therapeutics has a consensus rating of “Hold” and an average price target of $18.00.

Intellia Therapeutics Price Performance

The business has a 50-day moving average of $10.44 and a two-hundred day moving average of $12.96. The company has a market cap of $1.52 billion, a P/E ratio of -3.08 and a beta of 2.05.

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

Insider Transactions at Intellia Therapeutics

In related news, EVP Birgit C. Schultes sold 8,508 shares of the stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $9.21, for a total value of $78,358.68. Following the completion of the transaction, the executive vice president directly owned 98,533 shares in the company, valued at approximately $907,488.93. This represents a 7.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP James Basta sold 10,397 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the executive vice president directly owned 101,528 shares in the company, valued at $935,072.88. This trade represents a 9.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 53,051 shares of company stock valued at $488,600 in the last three months. 3.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Intellia Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. AQR Capital Management LLC raised its position in shares of Intellia Therapeutics by 154.1% during the 1st quarter. AQR Capital Management LLC now owns 90,875 shares of the company’s stock worth $646,000 after acquiring an additional 55,118 shares in the last quarter. Woodline Partners LP acquired a new stake in Intellia Therapeutics during the 1st quarter worth approximately $171,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Intellia Therapeutics by 8.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 521,706 shares of the company’s stock valued at $3,709,000 after buying an additional 38,521 shares during the last quarter. Cyndeo Wealth Partners LLC purchased a new position in Intellia Therapeutics during the second quarter worth about $101,000. Finally, CWM LLC boosted its holdings in Intellia Therapeutics by 22.9% in the 2nd quarter. CWM LLC now owns 18,331 shares of the company’s stock valued at $172,000 after purchasing an additional 3,419 shares in the last quarter. 88.77% of the stock is owned by institutional investors and hedge funds.

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.