Intellia Therapeutics (NASDAQ:NTLA) Shares Down 7.1% – Time to Sell?

Shares of Intellia Therapeutics, Inc. (NASDAQ:NTLA) traded down 7.1% on Monday . The stock traded as low as $13.35 and last traded at $13.2090. 978,475 shares changed hands during mid-day trading, a decline of 83% from the average session volume of 5,609,454 shares. The stock had previously closed at $14.22.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on NTLA shares. Citigroup reissued a “market outperform” rating on shares of Intellia Therapeutics in a research note on Monday, June 15th. Wall Street Zen lowered shares of Intellia Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Robert W. Baird increased their price target on shares of Intellia Therapeutics from $7.00 to $13.00 and gave the company a “neutral” rating in a research report on Monday, April 27th. Citizens Jmp reissued a “market outperform” rating and issued a $30.00 price target on shares of Intellia Therapeutics in a report on Monday, June 15th. Finally, Chardan Capital raised their price target on shares of Intellia Therapeutics from $27.00 to $30.00 and gave the stock a “buy” rating in a report on Monday, April 27th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, ten have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $20.67.

Intellia Therapeutics Price Performance

The stock’s 50 day simple moving average is $14.40 and its two-hundred day simple moving average is $13.37. The firm has a market cap of $1.86 billion, a P/E ratio of -3.76 and a beta of 1.77.

Intellia Therapeutics (NASDAQ:NTLA) last issued its quarterly earnings results on Monday, May 11th. The company reported ($0.81) EPS for the quarter, topping analysts’ consensus estimates of ($0.92) by $0.11. Intellia Therapeutics had a negative return on equity of 57.47% and a negative net margin of 597.04%.The firm had revenue of $15.05 million for the quarter, compared to analysts’ expectations of $13.81 million. During the same period in the previous year, the firm posted ($1.10) EPS. Equities research analysts anticipate that Intellia Therapeutics, Inc. will post -3.18 earnings per share for the current year.

Insider Buying and Selling at Intellia Therapeutics

In other news, CAO Michael P. Dube sold 2,641 shares of the stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $16.78, for a total value of $44,315.98. Following the sale, the chief accounting officer directly owned 66,886 shares of the company’s stock, valued at approximately $1,122,347.08. This represents a 3.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Edward J. Dulac III sold 4,677 shares of Intellia Therapeutics stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $18.00, for a total value of $84,186.00. Following the completion of the transaction, the executive vice president directly owned 156,286 shares of the company’s stock, valued at approximately $2,813,148. This represents a 2.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 3.50% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. ARK Investment Management LLC lifted its stake in shares of Intellia Therapeutics by 19.2% in the fourth quarter. ARK Investment Management LLC now owns 14,207,324 shares of the company’s stock worth $127,724,000 after buying an additional 2,288,146 shares in the last quarter. Vanguard Group Inc. raised its holdings in Intellia Therapeutics by 17.8% in the 4th quarter. Vanguard Group Inc. now owns 13,010,001 shares of the company’s stock worth $116,960,000 after acquiring an additional 1,965,181 shares during the last quarter. State Street Corp lifted its position in Intellia Therapeutics by 29.1% in the 4th quarter. State Street Corp now owns 6,418,836 shares of the company’s stock valued at $57,705,000 after acquiring an additional 1,447,967 shares in the last quarter. Geode Capital Management LLC lifted its position in Intellia Therapeutics by 4.1% in the 4th quarter. Geode Capital Management LLC now owns 2,696,187 shares of the company’s stock valued at $24,243,000 after acquiring an additional 107,333 shares in the last quarter. Finally, Two Sigma Investments LP boosted its stake in Intellia Therapeutics by 7.6% during the 3rd quarter. Two Sigma Investments LP now owns 2,449,607 shares of the company’s stock valued at $42,305,000 after purchasing an additional 173,033 shares during the last quarter. 88.77% of the stock is owned by hedge funds and other institutional investors.

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.