Insider Selling: Intellia Therapeutics (NASDAQ:NTLA) CEO Sells $107,910.00 in Stock

Intellia Therapeutics, Inc. (NASDAQ:NTLA) CEO John Leonard sold 9,000 shares of Intellia Therapeutics stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $11.99, for a total value of $107,910.00. Following the completion of the sale, the chief executive officer directly owned 1,138,064 shares of the company’s stock, valued at approximately $13,645,387.36. The trade was a 0.78% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

Intellia Therapeutics Stock Performance

NTLA stock opened at $11.10 on Friday. Intellia Therapeutics, Inc. has a 1-year low of $7.95 and a 1-year high of $18.48. The business has a fifty day moving average price of $12.13 and a 200-day moving average price of $13.06.

Intellia Therapeutics (NASDAQ:NTLA) last released its quarterly earnings data on Thursday, November 5th. The company reported ($0.91) EPS for the quarter, missing the consensus estimate of ($0.80) by ($0.11). Intellia Therapeutics had a negative net margin of 672.16% and a negative return on equity of 57.79%. The business had revenue of $7.16 million for the quarter, compared to analysts’ expectations of $9.74 million. During the same period last year, the business earned ($0.92) earnings per share. The company’s quarterly revenue was down 47.8% on a year-over-year basis. On average, equities analysts predict that Intellia Therapeutics, Inc. will post -3.21 EPS for the current fiscal year.

Institutional Trading of Intellia Therapeutics

A number of hedge funds have recently bought and sold shares of the company. BlackRock Inc. bought a new position in shares of Intellia Therapeutics during the 2nd quarter valued at approximately $260,721,000. Sumitomo Mitsui Trust Group Inc. increased its holdings in Intellia Therapeutics by 24.4% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,605,623 shares of the company’s stock worth $43,484,000 after acquiring an additional 708,094 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Intellia Therapeutics by 20.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,318,110 shares of the company’s stock worth $29,709,000 after acquiring an additional 386,261 shares during the period. Arrowstreet Capital Limited Partnership bought a new stake in Intellia Therapeutics during the 1st quarter worth approximately $17,913,000. Finally, Bank of America Corp DE raised its stake in Intellia Therapeutics by 11.2% during the 1st quarter. Bank of America Corp DE now owns 1,381,703 shares of the company’s stock worth $17,713,000 after acquiring an additional 139,325 shares during the period. Hedge funds and other institutional investors own 88.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Wall Street Zen downgraded shares of Intellia Therapeutics from a “sell” rating to a “strong sell” rating in a report on Saturday, August 8th. Citigroup reiterated a “market outperform” rating on shares of Intellia Therapeutics in a research note on Tuesday, August 25th. Evercore raised shares of Intellia Therapeutics from a “hold” rating to an “outperform” rating and set a $24.00 price objective for the company in a report on Friday, August 7th. Wolfe Research downgraded shares of Intellia Therapeutics from a “peer perform” rating to an “underperform” rating and set a $9.00 price objective on the stock. in a research report on Wednesday, July 15th. Finally, Citizens Jmp restated a “market outperform” rating and issued a $30.00 target price on shares of Intellia Therapeutics in a report on Wednesday, September 9th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, seven have issued a Hold rating and five have given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $20.57.

More Intellia Therapeutics News

Here are the key news stories impacting Intellia Therapeutics this week:

• Positive Sentiment: Intellia completed enrollment in the Phase 3 MAGNITUDE-2 trial of nex-z for hereditary transthyretin amyloidosis with polyneuropathy. This marks a development milestone for the investigational therapy, though the company did not provide trial results in the announcement. Article: Intellia completes Phase 3 trial enrollment
• Neutral Sentiment: CEO John Leonard sold 9,000 shares for about $108,000, a 0.78% reduction in his holdings. He retained more than 1.13 million shares after the sale, limiting the significance of the transaction. Article: CEO share sale
• Negative Sentiment: Third-quarter results missed expectations: Intellia reported a loss of $0.91 per share versus analyst estimates of roughly $0.80–$0.82, while revenue of $7.16 million fell short of the $9.74 million consensus and declined 47.8% year over year. The earnings miss and weak revenue provide a near-term negative catalyst. Article: Shares react to Q3 revenue miss

About Intellia Therapeutics

Intellia Therapeutics, Inc is a biotechnology company focused on developing potentially curative treatments using CRISPR-based gene-editing technology. The company is working to create therapies that can modify disease-causing genes inside the body, with the goal of addressing the underlying causes of serious genetic diseases rather than treating only their symptoms.

Intellia’s pipeline has included NTLA-2001, an investigational in vivo gene-editing therapy designed to reduce production of transthyretin for the treatment of transthyretin amyloidosis, and NTLA-2002, an investigational therapy intended to target hereditary angioedema.