Intellia Therapeutics (NASDAQ:NTLA) Hits New 52-Week Low on Analyst Downgrade

Intellia Therapeutics, Inc. (NASDAQ:NTLA - Get Free Report)'s share price hit a new 52-week low during mid-day trading on Friday after BMO Capital Markets lowered their price target on the stock from $70.00 to $50.00. BMO Capital Markets currently has an outperform rating on the stock. Intellia Therapeutics traded as low as $10.35 and last traded at $10.56, with a volume of 1506684 shares traded. The stock had previously closed at $12.02.

A number of other brokerages have also recently issued reports on NTLA. Wells Fargo & Company lowered their price target on shares of Intellia Therapeutics from $70.00 to $60.00 and set an "overweight" rating for the company in a research report on Friday. Barclays cut their target price on shares of Intellia Therapeutics from $76.00 to $55.00 and set an "overweight" rating for the company in a research report on Friday, November 8th. Canaccord Genuity Group restated a "buy" rating and set a $90.00 target price on shares of Intellia Therapeutics in a research report on Tuesday, November 19th. Robert W. Baird dropped their price target on shares of Intellia Therapeutics from $24.00 to $18.00 and set a "neutral" rating for the company in a research report on Friday, October 25th. Finally, The Goldman Sachs Group lowered their target price on shares of Intellia Therapeutics from $31.00 to $20.00 and set a "neutral" rating for the company in a report on Friday, October 25th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Intellia Therapeutics currently has a consensus rating of "Moderate Buy" and an average price target of $52.81.

Insider Transactions at Intellia Therapeutics

In related news, CEO John M. Leonard sold 26,807 shares of the company's stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $12.18, for a total value of $326,509.26. Following the completion of the sale, the chief executive officer now owns 941,115 shares of the company's stock, valued at approximately $11,462,780.70. This represents a 2.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders sold 28,735 shares of company stock valued at $349,909 over the last 90 days. 3.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Intellia Therapeutics

A number of hedge funds have recently modified their holdings of NTLA. Elmwood Wealth Management Inc. lifted its position in Intellia Therapeutics by 0.9% in the third quarter. Elmwood Wealth Management Inc. now owns 67,774 shares of the company's stock valued at $1,393,000 after buying an additional 600 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in Intellia Therapeutics by 27.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,674 shares of the company's stock valued at $77,000 after buying an additional 794 shares during the last quarter. Capstone Investment Advisors LLC lifted its position in Intellia Therapeutics by 1.4% in the third quarter. Capstone Investment Advisors LLC now owns 61,129 shares of the company's stock valued at $1,256,000 after buying an additional 831 shares during the last quarter. KBC Group NV lifted its position in Intellia Therapeutics by 37.3% in the third quarter. KBC Group NV now owns 3,753 shares of the company's stock valued at $77,000 after buying an additional 1,020 shares during the last quarter. Finally, Axxcess Wealth Management LLC lifted its position in Intellia Therapeutics by 5.4% in the third quarter. Axxcess Wealth Management LLC now owns 20,215 shares of the company's stock valued at $415,000 after buying an additional 1,044 shares during the last quarter. Hedge funds and other institutional investors own 88.77% of the company's stock.

Intellia Therapeutics Stock Down 15.1 %

The stock's 50-day simple moving average is $13.87 and its 200 day simple moving average is $19.10. The company has a market cap of $1.04 billion, a price-to-earnings ratio of -1.87 and a beta of 1.83.

Intellia Therapeutics (NASDAQ:NTLA - Get Free Report) last posted its earnings results on Thursday, November 7th. The company reported ($1.34) EPS for the quarter, beating analysts' consensus estimates of ($1.37) by $0.03. The company had revenue of $9.10 million during the quarter, compared to analyst estimates of $8.28 million. The company's quarterly revenue was down 24.1% compared to the same quarter last year. During the same period in the previous year, the company earned ($1.38) EPS. On average, sell-side analysts expect that Intellia Therapeutics, Inc. will post -5.12 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.