Intellia Therapeutics (NASDAQ:NTLA) Reaches New 52-Week Low – Should You Sell?

Intellia Therapeutics, Inc. (NASDAQ:NTLA) hit a new 52-week low on Thursday . The stock traded as low as $11.61 and last traded at $11.84, with a volume of 156491 shares changing hands. The stock had previously closed at $12.05.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Oppenheimer dropped their target price on Intellia Therapeutics from $70.00 to $60.00 and set an “outperform” rating on the stock in a report on Monday, November 11th. Canaccord Genuity Group reissued a “buy” rating and issued a $90.00 target price on shares of Intellia Therapeutics in a research note on Tuesday, November 19th. Wells Fargo & Company dropped their price target on shares of Intellia Therapeutics from $80.00 to $70.00 and set an “overweight” rating on the stock in a research report on Monday, November 18th. Citigroup decreased their price objective on shares of Intellia Therapeutics from $25.00 to $19.00 and set a “neutral” rating for the company in a research report on Friday, October 25th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $54.00 price target on shares of Intellia Therapeutics in a report on Thursday, September 19th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $54.94.

Intellia Therapeutics Trading Up 0.7 %

The stock’s 50-day simple moving average is $15.12 and its 200-day simple moving average is $20.03. The stock has a market cap of $1.24 billion, a price-to-earnings ratio of -2.23 and a beta of 1.76.

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

Insider Buying and Selling

In other Intellia Therapeutics news, CAO Michael P. Dube sold 2,012 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $19.01, for a total value of $38,248.12. Following the transaction, the chief accounting officer now directly owns 47,012 shares of the company’s stock, valued at $893,698.12. This trade represents a 4.10 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.20% of the stock is owned by company insiders.

Institutional Trading of Intellia Therapeutics

Large investors have recently made changes to their positions in the company. Franklin Resources Inc. lifted its stake in Intellia Therapeutics by 10.3% during the third quarter. Franklin Resources Inc. now owns 16,405 shares of the company’s stock worth $320,000 after purchasing an additional 1,538 shares during the last quarter. Sanctuary Advisors LLC lifted its position in shares of Intellia Therapeutics by 147.9% during the 3rd quarter. Sanctuary Advisors LLC now owns 53,590 shares of the company’s stock worth $1,101,000 after buying an additional 31,976 shares during the last quarter. Virtu Financial LLC acquired a new stake in Intellia Therapeutics in the third quarter valued at about $417,000. Geode Capital Management LLC raised its stake in Intellia Therapeutics by 2.2% during the third quarter. Geode Capital Management LLC now owns 2,343,310 shares of the company’s stock worth $48,164,000 after acquiring an additional 49,367 shares in the last quarter. Finally, Barclays PLC raised its stake in Intellia Therapeutics by 17.7% during the third quarter. Barclays PLC now owns 292,795 shares of the company’s stock worth $6,017,000 after acquiring an additional 44,022 shares in the last quarter. Institutional investors and hedge funds own 88.77% of the company’s stock.

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.