Intellia Therapeutics (NASDAQ:NTLA) Shares Down 9.6% Following Analyst Downgrade

Intellia Therapeutics, Inc. (NASDAQ:NTLA - Get Free Report)'s stock price traded down 9.6% during trading on Friday after Barclays lowered their price target on the stock from $55.00 to $26.00. Barclays currently has an overweight rating on the stock. Intellia Therapeutics traded as low as $9.52 and last traded at $9.82. 622,529 shares traded hands during trading, a decline of 81% from the average session volume of 3,192,816 shares. The stock had previously closed at $10.86.

A number of other brokerages also recently commented on NTLA. JPMorgan Chase & Co. restated a "neutral" rating and set a $13.00 price objective (down from $45.00) on shares of Intellia Therapeutics in a research note on Friday. Citigroup upped their price target on shares of Intellia Therapeutics from $12.00 to $14.00 and gave the stock a "neutral" rating in a research report on Friday. Chardan Capital cut their price objective on shares of Intellia Therapeutics from $91.00 to $68.00 and set a "buy" rating on the stock in a research report on Friday. The Goldman Sachs Group reissued a "sell" rating and set a $9.00 target price on shares of Intellia Therapeutics in a research note on Friday. Finally, Morgan Stanley lowered shares of Intellia Therapeutics from an "overweight" rating to an "equal weight" rating and dropped their price target for the company from $56.00 to $11.00 in a research note on Monday, January 27th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Intellia Therapeutics presently has a consensus rating of "Moderate Buy" and a consensus target price of $42.12.

Insider Transactions at Intellia Therapeutics

In related news, CEO John M. Leonard sold 26,807 shares of the stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 941,115 shares of the company's stock, valued at $11,462,780.70. This 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 at the SEC website. In the last 90 days, insiders have sold 29,000 shares of company stock valued at $352,551. Corporate insiders own 3.20% of the company's stock.

Hedge Funds Weigh In On Intellia Therapeutics

Hedge funds have recently modified their holdings of the stock. GF Fund Management CO. LTD. purchased a new position in Intellia Therapeutics in the 4th quarter worth about $25,000. Sterling Capital Management LLC increased its position 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 worth $37,000 after acquiring an additional 2,867 shares in the last quarter. Whipplewood Advisors LLC acquired a new stake in shares of Intellia Therapeutics during the fourth quarter valued at approximately $40,000. Resona Asset Management Co. Ltd. purchased a new stake in shares of Intellia Therapeutics in the 4th quarter valued at approximately $43,000. Finally, Jones Financial Companies Lllp lifted its position in shares of Intellia Therapeutics by 140.9% in the 4th quarter. Jones Financial Companies Lllp now owns 3,898 shares of the company's stock valued at $45,000 after acquiring an additional 2,280 shares in the last quarter. 88.77% of the stock is currently owned by institutional investors and hedge funds.

Intellia Therapeutics Stock Performance

The business's 50 day moving average is $10.85 and its 200 day moving average is $15.55. The stock has a market cap of $962.47 million, a price-to-earnings ratio of -1.74 and a beta of 1.80.

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.