Intellia Therapeutics (NASDAQ:NTLA) Trading Down 6.9% Following Analyst Downgrade

Intellia Therapeutics, Inc. (NASDAQ:NTLA)’s stock price fell 6.9% during mid-day trading on Wednesday after Jones Trading downgraded the stock from a buy rating to a hold rating. The company traded as low as $9.45 and last traded at $9.4810. 3,508,600 shares were traded during trading, a decline of 32% from the average session volume of 5,152,376 shares. The stock had previously closed at $10.18.

NTLA has been the subject of a number of other reports. Oppenheimer set a $27.00 price target on shares of Intellia Therapeutics in a research report on Friday, November 7th. Sanford C. Bernstein set a $14.50 target price on shares of Intellia Therapeutics in a research note on Tuesday, October 28th. Robert W. Baird set a $9.00 target price on shares of Intellia Therapeutics in a report on Thursday, October 30th. JPMorgan Chase & Co. reissued an “underweight” rating and set a $5.00 price target (down from $12.00) on shares of Intellia Therapeutics in a report on Friday, November 7th. Finally, Citizens Jmp lowered their price objective on Intellia Therapeutics from $29.00 to $21.00 and set a “market outperform” rating on the stock in a research report on Friday, November 7th. Eleven equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $18.25.

Insider Activity

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

Institutional Investors Weigh In On Intellia Therapeutics

Large investors have recently bought and sold shares of the business. Contrarius Group Holdings Ltd lifted its position in Intellia Therapeutics by 279.4% during the third quarter. Contrarius Group Holdings Ltd now owns 5,889,936 shares of the company’s stock valued at $101,719,000 after purchasing an additional 4,337,428 shares during the last quarter. Jupiter Asset Management Ltd. purchased a new stake in shares of Intellia Therapeutics during the 3rd quarter valued at about $23,519,000. Marex Group plc purchased a new stake in shares of Intellia Therapeutics during the 2nd quarter valued at about $5,849,000. Vanguard Group Inc. lifted its holdings in shares of Intellia Therapeutics by 5.5% in the 1st quarter. Vanguard Group Inc. now owns 10,752,031 shares of the company’s stock valued at $76,447,000 after acquiring an additional 561,978 shares during the last quarter. Finally, ARK Investment Management LLC grew 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 worth $92,508,000 after acquiring an additional 474,629 shares in the last quarter. Institutional investors own 88.77% of the company’s stock.

Intellia Therapeutics Stock Down 6.8%

The company has a 50 day simple moving average of $17.09 and a two-hundred day simple moving average of $12.54. The company has a market capitalization of $1.10 billion, a P/E ratio of -2.22 and a beta of 2.44.

Intellia Therapeutics (NASDAQ:NTLA) last posted its quarterly earnings data on Thursday, November 6th. The company reported ($0.92) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.02) by $0.10. The business had revenue of $13.78 million during the quarter, compared to analyst estimates of $14.12 million. Intellia Therapeutics had a negative return on equity of 57.01% and a negative net margin of 774.94%.The company’s revenue for the quarter was up 51.6% on a year-over-year basis. During the same period last year, the company earned ($1.34) EPS. As a group, research analysts expect that Intellia Therapeutics, Inc. will post -5.07 EPS for the current fiscal year.

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.