Intellia Therapeutics (NASDAQ:NTLA) Hits New 52-Week Low - Here's What Happened

Intellia Therapeutics, Inc. (NASDAQ:NTLA - Get Free Report) hit a new 52-week low on Wednesday . The company traded as low as $8.30 and last traded at $8.32, with a volume of 1486287 shares. The stock had previously closed at $8.73.

Analysts Set New Price Targets

Several analysts recently issued reports on NTLA shares. HC Wainwright assumed coverage on Intellia Therapeutics in a research note on Wednesday, March 5th. They issued a "buy" rating and a $30.00 price target for the company. Barclays decreased their price target on shares of Intellia Therapeutics from $55.00 to $26.00 and set an "overweight" rating on the stock in a research note on Friday, February 28th. BMO Capital Markets dropped their price objective on shares of Intellia Therapeutics from $70.00 to $50.00 and set an "outperform" rating for the company in a research note on Friday, January 10th. Oppenheimer cut their price objective on shares of Intellia Therapeutics from $60.00 to $40.00 and set an "outperform" rating for the company in a report on Monday, January 13th. Finally, StockNews.com raised shares of Intellia Therapeutics to a "sell" rating in a report on Monday, March 3rd. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $37.56.

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Intellia Therapeutics Price Performance

The business's 50-day simple moving average is $9.98 and its two-hundred day simple moving average is $13.77. The stock has a market cap of $835.38 million, a price-to-earnings ratio of -1.48 and a beta of 1.97.

Insider Buying and Selling

In related news, CEO John M. Leonard sold 26,807 shares of the firm's stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 941,115 shares in the company, valued at $11,462,780.70. This trade represents a 2.77 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold 29,000 shares of company stock worth $352,551 in the last 90 days. Insiders own 3.20% of the company's stock.

Hedge Funds Weigh In On Intellia Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Ensign Peak Advisors Inc increased its holdings in Intellia Therapeutics by 2.9% in the fourth quarter. Ensign Peak Advisors Inc now owns 39,169 shares of the company's stock valued at $457,000 after purchasing an additional 1,100 shares during the period. Franklin Resources Inc. grew its position in shares of Intellia Therapeutics by 10.3% in the 3rd quarter. Franklin Resources Inc. now owns 16,405 shares of the company's stock valued at $320,000 after buying an additional 1,538 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of Intellia Therapeutics by 14.0% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 12,863 shares of the company's stock valued at $157,000 after buying an additional 1,582 shares during the period. Arizona State Retirement System raised its position in shares of Intellia Therapeutics by 6.1% during the fourth quarter. Arizona State Retirement System now owns 28,006 shares of the company's stock worth $327,000 after acquiring an additional 1,615 shares during the last quarter. Finally, E Fund Management Co. Ltd. lifted its stake in shares of Intellia Therapeutics by 10.0% in the fourth quarter. E Fund Management Co. Ltd. now owns 18,053 shares of the company's stock worth $210,000 after acquiring an additional 1,634 shares during the period. 88.77% of the stock is currently owned by institutional investors and hedge funds.

Intellia Therapeutics Company Profile

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.