Intellia Therapeutics (NASDAQ:NTLA) Shares Down 4.2% - Here's What Happened

Intellia Therapeutics, Inc. (NASDAQ:NTLA - Get Free Report)'s stock price dropped 4.2% during trading on Friday . The stock traded as low as $12.97 and last traded at $12.99. Approximately 395,575 shares changed hands during mid-day trading, a decline of 77% from the average daily volume of 1,748,399 shares. The stock had previously closed at $13.56.

Analysts Set New Price Targets

A number of equities analysts have weighed in on NTLA shares. Barclays reduced their price objective on Intellia Therapeutics from $76.00 to $55.00 and set an "overweight" rating for the company in a research note on Friday, November 8th. Stifel Nicolaus reduced their price target on Intellia Therapeutics from $80.00 to $64.00 and set a "buy" rating for the company in a research report on Wednesday, September 11th. Citigroup decreased their price target on Intellia Therapeutics from $25.00 to $19.00 and set a "neutral" rating for the company in a report on Friday, October 25th. The Goldman Sachs Group dropped their price objective on shares of Intellia Therapeutics from $31.00 to $20.00 and set a "neutral" rating on the stock in a research note on Friday, October 25th. Finally, Chardan Capital boosted 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. One research analyst has 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 stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $54.94.

Intellia Therapeutics Price Performance

The firm has a market cap of $1.31 billion, a price-to-earnings ratio of -2.37 and a beta of 1.76. The business has a fifty day simple moving average of $16.13 and a 200 day simple moving average of $20.60.

Intellia Therapeutics (NASDAQ:NTLA - Get Free Report) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($1.34) EPS for the quarter, beating the consensus estimate of ($1.37) by $0.03. The firm had revenue of $9.10 million during the quarter, compared to analyst estimates of $8.28 million. During the same period in the prior year, the company posted ($1.38) earnings per share. The firm's revenue for the quarter was down 24.1% compared to the same quarter last year. On average, research analysts anticipate that Intellia Therapeutics, Inc. will post -5.12 earnings per share for the current fiscal year.

Insider Transactions at Intellia Therapeutics

In related news, CAO Michael P. Dube sold 2,012 shares of the company's stock in a transaction dated Wednesday, October 2nd. The shares were 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 owns 47,012 shares of the company's stock, valued at approximately $893,698.12. This represents a 4.10 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 3.20% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Blue Trust Inc. increased its holdings in shares of Intellia Therapeutics by 1,664.3% in the second quarter. Blue Trust Inc. now owns 1,482 shares of the company's stock valued at $33,000 after purchasing an additional 1,398 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of Intellia Therapeutics by 763.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,753 shares of the company's stock worth $39,000 after acquiring an additional 1,550 shares during the last quarter. Eastern Bank purchased a new position in shares of Intellia Therapeutics during the 3rd quarter worth $41,000. Values First Advisors Inc. purchased a new position in shares of Intellia Therapeutics during the 3rd quarter worth $54,000. Finally, First Horizon Advisors Inc. boosted its position in shares of Intellia Therapeutics by 22.1% during the 2nd quarter. First Horizon Advisors Inc. now owns 2,604 shares of the company's stock valued at $58,000 after acquiring an additional 472 shares during the last quarter. 88.77% of the stock is currently owned by institutional investors and hedge funds.

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.