Intellia Therapeutics (NASDAQ:NTLA) Share Price Crosses Below Fifty Day Moving Average – What’s Next?

Intellia Therapeutics, Inc. (NASDAQ:NTLA) shares crossed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $12.10 and traded as low as $11.37. Intellia Therapeutics shares last traded at $11.49, with a volume of 4,586,846 shares trading hands.

Analyst Ratings Changes

NTLA has been the topic of several recent analyst reports. Citizens Jmp reiterated a “market outperform” rating and set a $30.00 price objective on shares of Intellia Therapeutics in a report on Wednesday, September 9th. Citigroup restated a “market outperform” rating on shares of Intellia Therapeutics in a report on Tuesday, August 25th. Wedbush upped their price target on shares of Intellia Therapeutics from $12.00 to $13.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 9th. HC Wainwright reaffirmed a “buy” rating and set a $25.00 price target on shares of Intellia Therapeutics in a research note on Wednesday, September 9th. Finally, Wall Street Zen lowered shares of Intellia Therapeutics from a “sell” rating to a “strong sell” rating in a report on Saturday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eight have given a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $20.98.

Intellia Therapeutics Trading Down 1.1%

The firm has a market capitalization of $1.70 billion, a price-to-earnings ratio of -3.57 and a beta of 1.82. The firm has a 50 day moving average price of $12.04 and a two-hundred day moving average price of $13.34.

Intellia Therapeutics (NASDAQ:NTLA) last posted its earnings results on Thursday, August 6th. The company reported ($0.80) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.80). The firm had revenue of $7.66 million during the quarter, compared to the consensus estimate of $12.98 million. Intellia Therapeutics had a negative net margin of 672.16% and a negative return on equity of 57.79%. The company’s revenue was down 46.4% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.98) EPS. As a group, research analysts forecast that Intellia Therapeutics, Inc. will post -3.21 earnings per share for the current year.

Insiders Place Their Bets

In related news, EVP J III sold 4,677 shares of Intellia Therapeutics stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $18.00, for a total transaction of $84,186.00. Following the transaction, the executive vice president owned 156,286 shares in the company, valued at approximately $2,813,148. The trade was a 2.91% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Michael Dube sold 2,641 shares of the company’s stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $16.78, for a total transaction 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 trade represents a 3.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 3.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of NTLA. BlackRock Inc. acquired a new stake in shares of Intellia Therapeutics in the second quarter valued at about $260,721,000. Dimensional Fund Advisors LP boosted its holdings in Intellia Therapeutics by 20.0% in 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 purchased a new position in Intellia Therapeutics in the 1st quarter worth approximately $17,913,000. Bank of America Corp DE grew its position in Intellia Therapeutics by 11.2% in the first quarter. Bank of America Corp DE now owns 1,381,703 shares of the company’s stock valued at $17,713,000 after acquiring an additional 139,325 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Intellia Therapeutics in the second quarter valued at approximately $15,210,000. Institutional investors and hedge funds own 88.77% of the company’s stock.

About Intellia Therapeutics

Intellia Therapeutics, Inc is a biotechnology company focused on developing curative treatments using CRISPR-based gene-editing technology. The company’s approach is designed to make targeted changes to disease-associated genes, including through in vivo therapies that edit genes directly inside the body.

Intellia’s pipeline includes NTLA-2001, an investigational treatment designed to address transthyretin amyloidosis by editing the TTR gene, and NTLA-2002, an investigational therapy targeting hereditary angioedema through editing of the KLKB1 gene.