Intellia Therapeutics (NASDAQ:NTLA) Hits New 12-Month Low - Time to Sell?

Intellia Therapeutics, Inc. (NASDAQ:NTLA - Get Free Report) reached a new 52-week low during trading on Thursday . The stock traded as low as $17.09 and last traded at $17.38, with a volume of 121810 shares traded. The stock had previously closed at $17.65.

Analyst Ratings Changes

NTLA has been the topic of a number of recent analyst reports. Stifel Nicolaus cut their price target on Intellia Therapeutics from $80.00 to $64.00 and set a "buy" rating on the stock in a report on Wednesday, September 11th. Evercore ISI raised Intellia Therapeutics to a "strong-buy" rating in a research note on Friday, August 9th. Truist Financial reaffirmed a "buy" rating and issued a $120.00 price objective on shares of Intellia Therapeutics in a report on Monday, June 24th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $65.00 target price on shares of Intellia Therapeutics in a research report on Monday, June 24th. Finally, Royal Bank of Canada restated an "outperform" rating and set a $54.00 price target on shares of Intellia Therapeutics in a research report on Thursday, September 19th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $61.77.

Intellia Therapeutics Trading Up 0.8 %

The company has a market cap of $1.72 billion, a price-to-earnings ratio of -3.32 and a beta of 1.76. The business has a 50-day moving average price of $21.34 and a 200 day moving average price of $23.27.

Intellia Therapeutics (NASDAQ:NTLA - Get Free Report) last announced its earnings results on Thursday, August 8th. The company reported ($1.52) EPS for the quarter, missing the consensus estimate of ($1.23) by ($0.29). The firm had revenue of $7.00 million during the quarter, compared to analyst estimates of $19.68 million. The firm's revenue was down 48.5% compared to the same quarter last year. During the same period last year, the company posted ($1.40) earnings per share. On average, analysts anticipate that Intellia Therapeutics, Inc. will post -5.22 earnings per share for the current year.

Insiders Place Their Bets

In other Intellia Therapeutics news, CAO Michael P. Dube sold 2,012 shares of Intellia Therapeutics stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $19.01, for a total transaction of $38,248.12. Following the transaction, the chief accounting officer now directly owns 47,012 shares in the company, valued at approximately $893,698.12. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 3.00% of the company's stock.

Hedge Funds Weigh In On Intellia Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in shares of Intellia Therapeutics by 8.9% during the first quarter. Vanguard Group Inc. now owns 9,093,712 shares of the company's stock worth $250,168,000 after acquiring an additional 746,263 shares in the last quarter. ARK Investment Management LLC raised its stake in shares of Intellia Therapeutics by 5.5% during the 2nd quarter. ARK Investment Management LLC now owns 11,595,789 shares of the company's stock worth $259,514,000 after purchasing an additional 606,507 shares in the last quarter. Federated Hermes Inc. lifted its holdings in shares of Intellia Therapeutics by 19.2% during the 2nd quarter. Federated Hermes Inc. now owns 2,300,889 shares of the company's stock valued at $51,494,000 after buying an additional 371,189 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Intellia Therapeutics during the 4th quarter valued at about $9,086,000. Finally, Pinnacle Associates Ltd. acquired a new position in Intellia Therapeutics in the first quarter worth approximately $7,035,000. 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.