Intellia Therapeutics (NASDAQ:NTLA) Reaches New 52-Week Low - Here's Why

Intellia Therapeutics, Inc. (NASDAQ:NTLA - Get Free Report)'s share price hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $9.21 and last traded at $9.35, with a volume of 302791 shares. The stock had previously closed at $9.58.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Wells Fargo & Company reduced their target price on shares of Intellia Therapeutics from $70.00 to $60.00 and set an "overweight" rating for the company in a report on Friday, January 10th. Robert W. Baird cut their price objective on shares of Intellia Therapeutics from $24.00 to $18.00 and set a "neutral" rating for the company in a report on Friday, October 25th. The Goldman Sachs Group cut their price objective on shares of Intellia Therapeutics from $19.00 to $12.00 and set a "neutral" rating for the company in a report on Tuesday, January 14th. Barclays cut their price objective on shares of Intellia Therapeutics from $76.00 to $55.00 and set an "overweight" rating for the company in a report on Friday, November 8th. Finally, William Blair reaffirmed a "neutral" rating and issued a $14.00 price objective on shares of Intellia Therapeutics in a report on Monday, November 18th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $48.71.

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Intellia Therapeutics Stock Up 10.8 %

The stock has a market capitalization of $1.09 billion, a price-to-earnings ratio of -1.96 and a beta of 1.80. The business's 50-day moving average is $11.41 and its two-hundred day moving average is $16.64.

Insider Buying and Selling

In related news, CEO John M. Leonard sold 26,807 shares of the business's stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $12.18, for a total transaction of $326,509.26. Following the transaction, the chief executive officer now directly owns 941,115 shares in the company, valued at approximately $11,462,780.70. The trade was a 2.77 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Over the last three months, insiders have sold 29,000 shares of company stock worth $352,551. 3.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Intellia Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the business. Sterling Capital Management LLC boosted its holdings in Intellia Therapeutics by 866.2% in the 4th quarter. Sterling Capital Management LLC now owns 3,198 shares of the company's stock valued at $37,000 after purchasing an additional 2,867 shares during the last quarter. Whipplewood Advisors LLC acquired a new position in Intellia Therapeutics in the 4th quarter valued at about $40,000. Eastern Bank acquired a new position in Intellia Therapeutics in the 3rd quarter valued at about $41,000. Resona Asset Management Co. Ltd. acquired a new position in Intellia Therapeutics in the 4th quarter valued at about $43,000. Finally, Jones Financial Companies Lllp boosted its holdings in Intellia Therapeutics by 140.9% in the 4th quarter. Jones Financial Companies Lllp now owns 3,898 shares of the company's stock valued at $45,000 after purchasing an additional 2,280 shares during the last quarter. 88.77% of the stock is currently owned by institutional investors and hedge funds.

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.