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

Shares of Intellia Therapeutics, Inc. (NASDAQ:NTLA - Get Free Report) reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as $6.73 and last traded at $6.72, with a volume of 815582 shares trading hands. The stock had previously closed at $7.11.

Analysts Set New Price Targets

NTLA has been the topic of several research analyst reports. Oppenheimer lowered their price target on Intellia Therapeutics from $60.00 to $40.00 and set an "outperform" rating on the stock in a research report on Monday, January 13th. JPMorgan Chase & Co. reaffirmed a "neutral" rating and issued a $13.00 price target (down from $45.00) on shares of Intellia Therapeutics in a research report on Friday, February 28th. The Goldman Sachs Group reissued a "sell" rating and issued a $9.00 price objective on shares of Intellia Therapeutics in a research report on Friday, February 28th. Chardan Capital dropped their target price on shares of Intellia Therapeutics from $91.00 to $68.00 and set a "buy" rating on the stock in a research report on Friday, February 28th. Finally, Truist Financial reduced their price target on shares of Intellia Therapeutics from $90.00 to $50.00 and set a "buy" rating for the company in a report on Tuesday, March 4th. Two equities research 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 MarketBeat, Intellia Therapeutics presently has an average rating of "Moderate Buy" and an average target price of $37.56.

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Intellia Therapeutics Stock Up 9.6 %

The company has a market capitalization of $755.67 million, a price-to-earnings ratio of -1.34 and a beta of 1.97. The business has a fifty day simple moving average of $9.79 and a two-hundred day simple moving average of $13.48.

Insider Activity at Intellia Therapeutics

In other Intellia Therapeutics news, CEO John M. Leonard sold 26,807 shares of the stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $12.18, for a total transaction of $326,509.26. Following the completion of the transaction, the chief executive officer now directly owns 941,115 shares in the company, valued at $11,462,780.70. This represents 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 this link. Insiders have sold a total of 29,000 shares of company stock valued at $352,551 in the last 90 days. 3.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Intellia Therapeutics

Several large investors have recently made changes to their positions in NTLA. Wellington Management Group LLP boosted its position in Intellia Therapeutics by 8.5% in the fourth quarter. Wellington Management Group LLP now owns 699,814 shares of the company's stock valued at $8,160,000 after buying an additional 55,051 shares in the last quarter. California State Teachers Retirement System raised its stake in shares of Intellia Therapeutics by 4.1% in the fourth quarter. California State Teachers Retirement System now owns 90,638 shares of the company's stock valued at $1,057,000 after acquiring an additional 3,596 shares during the last quarter. Polar Asset Management Partners Inc. raised its stake in shares of Intellia Therapeutics by 1,144.1% in the fourth quarter. Polar Asset Management Partners Inc. now owns 282,400 shares of the company's stock valued at $3,293,000 after acquiring an additional 259,700 shares during the last quarter. GF Fund Management CO. LTD. acquired a new position in shares of Intellia Therapeutics in the 4th quarter worth approximately $25,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Intellia Therapeutics by 5.0% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 483,185 shares of the company's stock worth $5,634,000 after acquiring an additional 23,173 shares during the last quarter. Institutional investors own 88.77% of the company's stock.

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.