Intellia Therapeutics (NASDAQ:NTLA) Reaches New 1-Year Low Following Analyst Downgrade

Intellia Therapeutics, Inc. (NASDAQ:NTLA - Get Free Report) hit a new 52-week low during mid-day trading on Tuesday after Truist Financial lowered their price target on the stock from $90.00 to $50.00. Truist Financial currently has a buy rating on the stock. Intellia Therapeutics traded as low as $8.36 and last traded at $8.58, with a volume of 1281108 shares traded. The stock had previously closed at $9.45.

A number of other analysts have also recently issued reports on NTLA. StockNews.com raised shares of Intellia Therapeutics to a "sell" rating in a research note on Monday, March 3rd. Morgan Stanley cut shares of Intellia Therapeutics from an "overweight" rating to an "equal weight" rating and reduced their price objective for the stock from $56.00 to $11.00 in a research note on Monday, January 27th. JPMorgan Chase & Co. reaffirmed a "neutral" rating and set a $13.00 target price (down from $45.00) on shares of Intellia Therapeutics in a research note on Friday, February 28th. BMO Capital Markets cut their target price 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. Finally, William Blair reaffirmed a "neutral" rating and set a $14.00 target price on shares of Intellia Therapeutics in a research note on Monday, November 18th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Intellia Therapeutics has an average rating of "Moderate Buy" and a consensus price target of $37.56.

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Insider Buying and Selling 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 shares were 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 owns 941,115 shares in the company, valued at $11,462,780.70. This trade represents a 2.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold 29,000 shares of company stock worth $352,551 over the last 90 days. 3.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Intellia Therapeutics

A number of large investors have recently made changes to their positions in NTLA. ARK Investment Management LLC boosted its stake in shares of Intellia Therapeutics by 5.7% during the 3rd quarter. ARK Investment Management LLC now owns 12,255,440 shares of the company's stock worth $251,849,000 after purchasing an additional 659,651 shares during the period. Lewis Asset Management LLC boosted its stake in shares of Intellia Therapeutics by 42.5% during the 3rd quarter. Lewis Asset Management LLC now owns 66,308 shares of the company's stock worth $1,363,000 after purchasing an additional 19,775 shares during the period. Atria Investments Inc boosted its stake in shares of Intellia Therapeutics by 24.3% during the 3rd quarter. Atria Investments Inc now owns 23,099 shares of the company's stock worth $475,000 after purchasing an additional 4,511 shares during the period. Privium Fund Management B.V. purchased a new position in shares of Intellia Therapeutics during the 3rd quarter worth about $253,000. Finally, Axxcess Wealth Management LLC boosted its stake in shares of Intellia Therapeutics by 5.4% during the 3rd quarter. Axxcess Wealth Management LLC now owns 20,215 shares of the company's stock worth $415,000 after purchasing an additional 1,044 shares during the period. 88.77% of the stock is owned by hedge funds and other institutional investors.

Intellia Therapeutics Trading Up 4.5 %

The business's 50 day moving average is $10.61 and its 200 day moving average is $15.13. The stock has a market capitalization of $1.07 billion, a PE ratio of -1.90 and a beta of 1.97.

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.