Intellia Therapeutics (NASDAQ:NTLA) Sets New 12-Month Low - Here's What Happened

Intellia Therapeutics, Inc. (NASDAQ:NTLA - Get Free Report)'s stock price hit a new 52-week low during trading on Wednesday . The stock traded as low as $12.45 and last traded at $12.50, with a volume of 1464767 shares. The stock had previously closed at $13.13.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on NTLA shares. Royal Bank of Canada reissued an "outperform" rating and issued a $54.00 price target on shares of Intellia Therapeutics in a research note on Thursday, September 19th. Citigroup lowered their price target on Intellia Therapeutics from $25.00 to $19.00 and set a "neutral" rating for the company in a research note on Friday, October 25th. Canaccord Genuity Group reissued a "buy" rating and set a $90.00 price objective on shares of Intellia Therapeutics in a research note on Tuesday, November 19th. Chardan Capital upped their target price on shares of Intellia Therapeutics from $88.00 to $91.00 and gave the company a "buy" rating in a research note on Monday, November 18th. Finally, Wells Fargo & Company reduced their price target on shares of Intellia Therapeutics from $80.00 to $70.00 and set an "overweight" rating on the stock in a research report on Monday, November 18th. One analyst has rated the stock with a sell rating, six have given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $54.94.

Intellia Therapeutics Trading Down 8.5 %

The company has a market cap of $1.22 billion, a price-to-earnings ratio of -2.21 and a beta of 1.76. The stock's 50-day moving average is $15.95 and its 200-day moving average is $20.48.

Intellia Therapeutics (NASDAQ:NTLA - Get Free Report) last released its quarterly earnings data on Thursday, November 7th. The company reported ($1.34) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($1.37) by $0.03. The company had revenue of $9.10 million for the quarter, compared to the consensus estimate of $8.28 million. During the same period last year, the company earned ($1.38) EPS. Intellia Therapeutics's revenue for the quarter was down 24.1% compared to the same quarter last year. As a group, analysts predict that Intellia Therapeutics, Inc. will post -5.12 EPS for the current year.

Insider Transactions at Intellia Therapeutics

In other Intellia Therapeutics news, CAO Michael P. Dube sold 2,012 shares of the business's stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $19.01, for a total transaction of $38,248.12. Following the completion of the sale, the chief accounting officer now directly owns 47,012 shares of the company's stock, valued at approximately $893,698.12. The trade was a 4.10 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 3.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Intellia Therapeutics

Several institutional investors have recently modified their holdings of NTLA. First Horizon Advisors Inc. grew its stake in Intellia Therapeutics by 22.1% in the 2nd quarter. First Horizon Advisors Inc. now owns 2,604 shares of the company's stock valued at $58,000 after purchasing an additional 472 shares during the period. Elmwood Wealth Management Inc. boosted its holdings in shares of Intellia Therapeutics by 0.9% in the 3rd quarter. Elmwood Wealth Management Inc. now owns 67,774 shares of the company's stock worth $1,393,000 after buying an additional 600 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in Intellia Therapeutics by 27.6% during 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 period. Capstone Investment Advisors LLC increased its holdings in Intellia Therapeutics by 1.4% during the third quarter. Capstone Investment Advisors LLC now owns 61,129 shares of the company's stock worth $1,256,000 after buying an additional 831 shares during the last quarter. Finally, KBC Group NV raised 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 worth $77,000 after acquiring an additional 1,020 shares during the period. 88.77% of the stock is owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.