Intellia Therapeutics (NASDAQ:NTLA) Shares Down 6% - Time to Sell?

Shares of Intellia Therapeutics, Inc. (NASDAQ:NTLA - Get Free Report) were down 6% during mid-day trading on Tuesday . The stock traded as low as $8.80 and last traded at $8.75. Approximately 453,637 shares traded hands during trading, a decline of 79% from the average daily volume of 2,115,428 shares. The stock had previously closed at $9.31.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. StockNews.com raised Intellia Therapeutics to a "sell" rating in a report on Monday, March 3rd. Truist Financial reduced their price objective on Intellia Therapeutics from $90.00 to $50.00 and set a "buy" rating for the company in a research note on Tuesday, March 4th. Wedbush reissued a "neutral" rating and issued a $10.00 price objective (down from $14.00) on shares of Intellia Therapeutics in a report on Friday, January 10th. The Goldman Sachs Group reaffirmed a "sell" rating and issued a $9.00 target price on shares of Intellia Therapeutics in a report on Friday, February 28th. Finally, Citigroup increased their price target on shares of Intellia Therapeutics from $12.00 to $14.00 and gave the stock a "neutral" rating in a research note on Friday, February 28th. Two analysts have rated the stock with a sell rating, six have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $37.56.

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Intellia Therapeutics Stock Down 3.9 %

The stock has a market cap of $835.38 million, a PE ratio of -1.48 and a beta of 1.97. The business's fifty day moving average is $9.98 and its 200 day moving average is $13.81.

Insider Buying and Selling

In other Intellia Therapeutics news, CEO John M. Leonard sold 26,807 shares of the business's 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 sale, the chief executive officer now directly owns 941,115 shares in the company, valued at approximately $11,462,780.70. The trade was a 2.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold a total of 29,000 shares of company stock worth $352,551 in the last quarter. Company insiders own 3.20% of the company's stock.

Institutional Inflows and Outflows

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