Intellia Therapeutics (NASDAQ:NTLA) Stock Price Down 4.9% - What's Next?

Intellia Therapeutics, Inc. (NASDAQ:NTLA - Get Free Report) traded down 4.9% during mid-day trading on Wednesday . The stock traded as low as $6.90 and last traded at $7.00. 250,039 shares traded hands during mid-day trading, a decline of 89% from the average session volume of 2,319,566 shares. The stock had previously closed at $7.36.

Analysts Set New Price Targets

Several research firms recently commented on NTLA. HC Wainwright initiated coverage on Intellia Therapeutics in a research note on Wednesday, March 5th. They issued a "buy" rating and a $30.00 price objective on the stock. Wolfe Research upgraded Intellia Therapeutics from a "peer perform" rating to an "outperform" rating and set a $21.00 target price for the company in a report on Monday. Barclays decreased their price target on shares of Intellia Therapeutics from $55.00 to $26.00 and set an "overweight" rating for the company in a research note on Friday, February 28th. Wells Fargo & Company lowered their price target on Intellia Therapeutics from $60.00 to $50.00 and set an "overweight" rating for the company in a research report on Friday, February 28th. Finally, Wedbush reiterated a "neutral" rating and set a $10.00 target price (down from $14.00) on shares of Intellia Therapeutics in a research note on Friday, January 10th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Intellia Therapeutics currently has an average rating of "Moderate Buy" and an average target price of $36.68.

Intellia Therapeutics Trading Up 9.5 %

The stock has a market capitalization of $819.85 million, a price-to-earnings ratio of -1.46 and a beta of 2.23. The firm has a 50-day moving average of $8.89 and a 200 day moving average of $12.11.

Hedge Funds Weigh In On Intellia Therapeutics

Several institutional investors have recently made changes to their positions in the stock. GF Fund Management CO. LTD. acquired a new position in shares of Intellia Therapeutics during the fourth quarter valued at approximately $25,000. Sterling Capital Management LLC lifted its holdings in shares of Intellia Therapeutics by 866.2% during the 4th quarter. Sterling Capital Management LLC now owns 3,198 shares of the company's stock valued at $37,000 after buying an additional 2,867 shares during the last quarter. Whipplewood Advisors LLC bought a new stake in Intellia Therapeutics in the fourth quarter worth approximately $40,000. Resona Asset Management Co. Ltd. acquired a new stake in shares of Intellia Therapeutics in the fourth quarter worth about $43,000. Finally, Jones Financial Companies Lllp grew its holdings in Intellia Therapeutics by 140.9% during the fourth quarter. Jones Financial Companies Lllp now owns 3,898 shares of the company's stock valued at $45,000 after purchasing an additional 2,280 shares during the last quarter. 88.77% of the stock is owned by institutional investors.

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.