Intellia Therapeutics (NASDAQ:NTLA) Trading Down 8.8% – Here’s What Happened

Shares of Intellia Therapeutics, Inc. (NASDAQ:NTLA) were down 8.8% on Tuesday . The stock traded as low as $13.80 and last traded at $13.6060. Approximately 1,428,999 shares changed hands during mid-day trading, a decline of 74% from the average daily volume of 5,591,244 shares. The stock had previously closed at $14.92.

Analyst Ratings Changes

Several research analysts have recently weighed in on NTLA shares. Robert W. Baird lifted their price objective on Intellia Therapeutics from $7.00 to $13.00 and gave the stock a “neutral” rating in a research report on Monday, April 27th. Weiss Ratings reissued a “sell (d-)” rating on shares of Intellia Therapeutics in a research report on Tuesday, April 21st. reissued a “buy” rating on shares of Intellia Therapeutics in a research note on Tuesday, March 3rd. The Goldman Sachs Group increased their target price on shares of Intellia Therapeutics from $8.00 to $9.00 and gave the stock a “sell” rating in a research note on Tuesday, April 28th. Finally, JonesTrading raised shares of Intellia Therapeutics from a “hold” rating to a “buy” rating and set a $29.00 target price on the stock in a research note on Wednesday, March 4th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, ten have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $20.46.

Intellia Therapeutics Trading Down 8.0%

The firm has a market cap of $1.92 billion, a P/E ratio of -3.87 and a beta of 1.92. The company’s 50-day moving average is $13.64 and its two-hundred day moving average is $12.37.

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

Institutional Investors Weigh In On Intellia Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Oppenheimer & Co. Inc. raised its position in Intellia Therapeutics by 0.8% in the 4th quarter. Oppenheimer & Co. Inc. now owns 105,165 shares of the company’s stock valued at $945,000 after buying an additional 808 shares during the last quarter. Comerica Bank lifted its position in shares of Intellia Therapeutics by 45.8% during the fourth quarter. Comerica Bank now owns 2,869 shares of the company’s stock valued at $26,000 after purchasing an additional 901 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in shares of Intellia Therapeutics by 36.4% during the first quarter. PNC Financial Services Group Inc. now owns 3,552 shares of the company’s stock valued at $46,000 after purchasing an additional 948 shares in the last quarter. Wealthfront Advisers LLC lifted its position in shares of Intellia Therapeutics by 7.6% during the first quarter. Wealthfront Advisers LLC now owns 14,450 shares of the company’s stock valued at $185,000 after purchasing an additional 1,018 shares in the last quarter. Finally, Interchange Capital Partners LLC grew its position in Intellia Therapeutics by 9.7% in the 3rd quarter. Interchange Capital Partners LLC now owns 11,695 shares of the company’s stock worth $202,000 after purchasing an additional 1,030 shares in the last quarter. 88.77% of the stock is owned by hedge funds and other institutional investors.

Intellia Therapeutics Company Profile

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.