Intellia Therapeutics (NASDAQ:NTLA) Stock Price Down 6.6% – Should You Sell?

Intellia Therapeutics, Inc. (NASDAQ:NTLA)’s share price traded down 6.6% on Friday . The company traded as low as $14.96 and last traded at $14.8240. 1,047,110 shares changed hands during mid-day trading, a decline of 76% from the average session volume of 4,438,837 shares. The stock had previously closed at $15.87.

Analysts Set New Price Targets

A number of research analysts have commented on NTLA shares. Wall Street Zen upgraded Intellia Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, March 7th. HC Wainwright boosted their price objective on Intellia Therapeutics from $25.00 to $30.00 and gave the stock a “buy” rating in a research note on Tuesday, March 3rd. Leerink Partners boosted their price objective on Intellia Therapeutics from $27.00 to $29.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 3rd. KeyCorp set a $25.00 price objective on Intellia Therapeutics in a research note on Wednesday, January 28th. Finally, JonesTrading upgraded Intellia Therapeutics from a “hold” rating to a “buy” rating and set a $29.00 price objective on the stock in a research note on Wednesday, March 4th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $19.52.

Intellia Therapeutics Price Performance

The firm has a market capitalization of $1.61 billion, a PE ratio of -3.56 and a beta of 1.99. The stock has a 50-day moving average price of $13.57 and a 200-day moving average price of $13.05.

Intellia Therapeutics (NASDAQ:NTLA) last announced its quarterly earnings data on Thursday, February 26th. The company reported ($0.83) earnings per share for the quarter, beating the consensus estimate of ($0.99) by $0.16. The firm had revenue of $23.02 million during the quarter, compared to analyst estimates of $12.17 million. Intellia Therapeutics had a negative return on equity of 56.81% and a negative net margin of 609.85%.Intellia Therapeutics’s quarterly revenue was up 78.4% on a year-over-year basis. During the same period in the previous year, the company earned ($1.27) earnings per share. As a group, equities research analysts predict that Intellia Therapeutics, Inc. will post -3.53 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Intellia Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NTLA. ARK Investment Management LLC boosted its stake in Intellia Therapeutics by 19.2% during the 4th quarter. ARK Investment Management LLC now owns 14,207,324 shares of the company’s stock valued at $127,724,000 after purchasing an additional 2,288,146 shares in the last quarter. Vanguard Group Inc. boosted its stake in Intellia Therapeutics by 17.8% during the 4th quarter. Vanguard Group Inc. now owns 13,010,001 shares of the company’s stock valued at $116,960,000 after purchasing an additional 1,965,181 shares in the last quarter. State Street Corp boosted its stake in Intellia Therapeutics by 29.1% during the 4th quarter. State Street Corp now owns 6,418,836 shares of the company’s stock valued at $57,705,000 after purchasing an additional 1,447,967 shares in the last quarter. Contrarius Group Holdings Ltd boosted its stake in Intellia Therapeutics by 279.4% during the 3rd 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 in the last quarter. Finally, Baker BROS. Advisors LP boosted its stake in Intellia Therapeutics by 2.7% during the 3rd quarter. Baker BROS. Advisors LP now owns 2,746,674 shares of the company’s stock valued at $47,435,000 after purchasing an additional 71,000 shares in the last quarter. 88.77% of the stock is owned by 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.