Intellia Therapeutics (NASDAQ:NTLA) Shares Gap Down After Analyst Downgrade

Intellia Therapeutics, Inc. (NASDAQ:NTLA) shares gapped down prior to trading on Friday after Chardan Capital lowered their price target on the stock from $48.00 to $26.00. The stock had previously closed at $12.32, but opened at $9.15. Chardan Capital currently has a buy rating on the stock. Intellia Therapeutics shares last traded at $9.9960, with a volume of 4,987,757 shares.

Several other equities research analysts have also recently commented on the company. Royal Bank Of Canada cut their price target on Intellia Therapeutics from $14.00 to $9.00 and set a “sector perform” rating for the company in a report on Friday. William Blair lowered Intellia Therapeutics from an “outperform” rating to a “market perform” rating in a research note on Monday, October 27th. Wells Fargo & Company cut their target price on Intellia Therapeutics from $17.00 to $12.00 and set an “equal weight” rating for the company in a research note on Friday. Citigroup reiterated a “market outperform” rating on shares of Intellia Therapeutics in a report on Tuesday, October 28th. Finally, JPMorgan Chase & Co. reissued an “underweight” rating and set a $5.00 price target (down previously from $12.00) on shares of Intellia Therapeutics in a research report on Friday. Twelve analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, Intellia Therapeutics has a consensus rating of “Hold” and an average target price of $20.39.

Insider Buying and Selling at Intellia Therapeutics

In other Intellia Therapeutics news, Director William J. Chase purchased 100,000 shares of the stock in a transaction dated Wednesday, August 20th. The stock was acquired at an average cost of $10.03 per share, for a total transaction of $1,003,000.00. Following the acquisition, the director owned 134,693 shares in the company, valued at $1,350,970.79. This trade represents a 288.24% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Michael P. Dube sold 1,871 shares of the business’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $17.38, for a total transaction of $32,517.98. Following the completion of the sale, the chief accounting officer owned 55,266 shares in the company, valued at approximately $960,523.08. This trade represents a 3.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 3.10% of the company’s stock.

Hedge Funds Weigh In On Intellia Therapeutics

A number of hedge funds have recently made changes to their positions in the stock. ARK Investment Management LLC raised its position in Intellia Therapeutics by 3.8% in the first quarter. ARK Investment Management LLC now owns 13,011,015 shares of the company’s stock valued at $92,508,000 after purchasing an additional 474,629 shares during the period. Vanguard Group Inc. boosted its position in shares of Intellia Therapeutics by 1.8% during the third quarter. Vanguard Group Inc. now owns 11,044,820 shares of the company’s stock worth $190,744,000 after buying an additional 192,651 shares during the period. Geode Capital Management LLC grew its stake in shares of Intellia Therapeutics by 5.1% in the second quarter. Geode Capital Management LLC now owns 2,606,222 shares of the company’s stock valued at $24,449,000 after buying an additional 126,049 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Intellia Therapeutics by 73.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 940,483 shares of the company’s stock valued at $8,822,000 after buying an additional 396,858 shares during the period. Finally, Armistice Capital LLC raised its holdings in shares of Intellia Therapeutics by 78.6% in the 2nd quarter. Armistice Capital LLC now owns 650,000 shares of the company’s stock valued at $6,097,000 after buying an additional 286,000 shares during the period. Hedge funds and other institutional investors own 88.77% of the company’s stock.

Intellia Therapeutics Stock Performance

The company has a 50 day moving average of $17.19 and a 200-day moving average of $12.47. The stock has a market cap of $1.02 billion, a price-to-earnings ratio of -2.23 and a beta of 2.44.

Intellia Therapeutics (NASDAQ:NTLA) last released its earnings results on Thursday, November 6th. The company reported ($0.92) earnings per share for the quarter, beating the consensus estimate of ($1.02) by $0.10. The company had revenue of $13.78 million during the quarter, compared to the consensus estimate of $14.12 million. Intellia Therapeutics had a negative return on equity of 56.28% and a negative net margin of 774.94%.Intellia Therapeutics’s revenue was up 51.6% compared to the same quarter last year. During the same period in the previous year, the company posted ($1.34) EPS. On average, research analysts anticipate that Intellia Therapeutics, Inc. will post -5.07 EPS for the current year.

Intellia Therapeutics Company Profile

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.