Intellia Therapeutics (NASDAQ:NTLA) Stock Price Down 7.3% - Time to Sell?

Intellia Therapeutics, Inc. (NASDAQ:NTLA - Get Free Report) shares fell 7.3% on Wednesday . The company traded as low as $19.51 and last traded at $19.54. 966,077 shares were traded during mid-day trading, a decline of 37% from the average session volume of 1,537,756 shares. The stock had previously closed at $21.08.

Analyst Upgrades and Downgrades

NTLA has been the topic of a number of recent analyst reports. Evercore ISI raised Intellia Therapeutics to a "strong-buy" rating in a research note on Friday, August 9th. JPMorgan Chase & Co. decreased their price target on Intellia Therapeutics from $61.00 to $55.00 and set an "overweight" rating on the stock in a research note on Monday, August 12th. Canaccord Genuity Group reaffirmed a "buy" rating and set a $73.00 price target on shares of Intellia Therapeutics in a research note on Thursday, June 27th. StockNews.com upgraded Intellia Therapeutics to a "sell" rating in a report on Thursday, June 27th. Finally, Stifel Nicolaus dropped their price target on Intellia Therapeutics from $80.00 to $64.00 and set a "buy" rating on the stock in a research report on Wednesday, September 11th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $61.77.

Intellia Therapeutics Trading Down 5.4 %

The company has a market capitalization of $1.92 billion, a PE ratio of -3.72 and a beta of 1.76. The business's fifty day moving average is $20.98 and its two-hundred day moving average is $22.87.

Intellia Therapeutics (NASDAQ:NTLA - Get Free Report) last released its quarterly earnings data on Thursday, August 8th. The company reported ($1.52) EPS for the quarter, missing the consensus estimate of ($1.23) by ($0.29). The business had revenue of $7.00 million for the quarter, compared to analyst estimates of $19.68 million. The firm's revenue was down 48.5% on a year-over-year basis. During the same period in the previous year, the business earned ($1.40) earnings per share. As a group, equities research analysts anticipate that Intellia Therapeutics, Inc. will post -5.22 EPS for the current year.

Insider Buying and Selling at Intellia Therapeutics

In related news, CAO Michael P. Dube sold 2,012 shares of the firm's stock in a transaction 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 completion of the transaction, the chief accounting officer now owns 47,012 shares of the company's stock, valued at $893,698.12. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Intellia Therapeutics

Institutional investors have recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Intellia Therapeutics by 27.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,674 shares of the company's stock valued at $77,000 after purchasing an additional 794 shares in the last quarter. Values First Advisors Inc. purchased a new position in Intellia Therapeutics during the 3rd quarter worth $54,000. Hennion & Walsh Asset Management Inc. increased its holdings in shares of Intellia Therapeutics by 34.7% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 53,721 shares of the company's stock valued at $1,104,000 after purchasing an additional 13,839 shares in the last quarter. Eastern Bank purchased a new position in shares of Intellia Therapeutics in the 3rd quarter valued at about $41,000. Finally, Blue Trust Inc. grew its stake in Intellia Therapeutics by 182.7% in the 3rd quarter. Blue Trust Inc. now owns 4,189 shares of the company's stock valued at $94,000 after acquiring an additional 2,707 shares during the last quarter. 88.77% of the stock is owned by hedge funds and other 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.