Intellia Therapeutics (NASDAQ:NTLA) Shares Gap Down – Should You Sell?

Intellia Therapeutics, Inc. (NASDAQ:NTLA)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $9.66, but opened at $7.37. Intellia Therapeutics shares last traded at $7.14, with a volume of 3,095,568 shares changing hands.

Wall Street Analyst Weigh In

NTLA has been the topic of a number of analyst reports. Citigroup dropped their target price on Intellia Therapeutics from $14.00 to $10.00 and set a “neutral” rating on the stock in a research report on Friday, May 9th. 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 report on Friday, February 28th. Wedbush reaffirmed a “neutral” rating and issued a $7.00 target price (down from $10.00) on shares of Intellia Therapeutics in a research report on Thursday. The Goldman Sachs Group reiterated a “sell” rating and set a $9.00 target price on shares of Intellia Therapeutics in a research note on Friday, February 28th. Finally, HC Wainwright reissued a “buy” rating and set a $30.00 price target on shares of Intellia Therapeutics in a research report on Thursday. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Intellia Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus target price of $36.75.

Intellia Therapeutics Stock Performance

The company’s fifty day moving average price is $7.97 and its 200 day moving average price is $10.37. The firm has a market capitalization of $724.05 million, a price-to-earnings ratio of -1.28 and a beta of 2.33.

Intellia Therapeutics (NASDAQ:NTLA) last issued its earnings results on Thursday, May 8th. The company reported ($1.10) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.26) by $0.16. The business had revenue of $16.63 million during the quarter, compared to the consensus estimate of $11.39 million. During the same period in the prior year, the business earned ($1.12) EPS. The business’s revenue was down 42.6% on a year-over-year basis. As a group, sell-side analysts expect that Intellia Therapeutics, Inc. will post -5.07 earnings per share for the current year.

Institutional Trading of Intellia Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in NTLA. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Intellia Therapeutics by 8.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 521,706 shares of the company’s stock valued at $3,709,000 after purchasing an additional 38,521 shares during the period. Woodline Partners LP acquired a new stake in Intellia Therapeutics in the first quarter worth $171,000. Arete Wealth Advisors LLC lifted its stake in Intellia Therapeutics by 21.8% in the first quarter. Arete Wealth Advisors LLC now owns 12,512 shares of the company’s stock valued at $89,000 after buying an additional 2,240 shares during the last quarter. Granahan Investment Management LLC lifted its stake in Intellia Therapeutics by 55.3% in the first quarter. Granahan Investment Management LLC now owns 475,946 shares of the company’s stock valued at $3,384,000 after buying an additional 169,436 shares during the last quarter. Finally, AQR Capital Management LLC boosted its holdings in shares of Intellia Therapeutics by 154.1% during the first quarter. AQR Capital Management LLC now owns 90,875 shares of the company’s stock valued at $646,000 after acquiring an additional 55,118 shares during the period. 88.77% of the stock is currently owned by institutional investors and hedge funds.

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.