Intellia Therapeutics (NASDAQ:NTLA) Trading Down 5.3% – Here’s Why

Intellia Therapeutics, Inc. (NASDAQ:NTLA)’s stock price dropped 5.3% on Monday . The stock traded as low as $16.17 and last traded at $16.6250. 768,262 shares were traded during trading, a decline of 86% from the average session volume of 5,637,388 shares. The stock had previously closed at $17.56.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on NTLA shares. Truist Financial raised shares of Intellia Therapeutics to a “strong-buy” rating in a research report on Wednesday, March 25th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $49.00 price objective on shares of Intellia Therapeutics in a research report on Tuesday, June 16th. Sanford C. Bernstein boosted their price objective on shares of Intellia Therapeutics from $13.00 to $17.00 and gave the company a “market perform” rating in a research report on Wednesday, May 13th. Citizens Jmp reiterated a “market outperform” rating and issued a $30.00 price objective on shares of Intellia Therapeutics in a research note on Monday, June 15th. Finally, Chardan Capital increased their target price on shares of Intellia Therapeutics from $27.00 to $30.00 and gave the stock a “buy” rating in a research report on Monday, April 27th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, ten have given a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $20.46.

Intellia Therapeutics Stock Up 2.8%

The business has a 50-day simple moving average of $14.13 and a 200-day simple moving average of $13.07. The stock has a market cap of $2.52 billion, a P/E ratio of -5.08 and a beta of 1.77.

Intellia Therapeutics (NASDAQ:NTLA) last released its quarterly earnings results on Monday, May 11th. The company reported ($0.81) EPS for the quarter, beating analysts’ consensus estimates of ($0.92) by $0.11. Intellia Therapeutics had a negative net margin of 597.04% and a negative return on equity of 57.47%. The company had revenue of $15.05 million for the quarter, compared to analyst estimates of $13.81 million. During the same quarter last year, the firm posted ($1.10) earnings per share. On average, analysts predict that Intellia Therapeutics, Inc. will post -3.18 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of NTLA. ARK Investment Management LLC lifted its position in Intellia Therapeutics by 19.2% during the 4th quarter. ARK Investment Management LLC now owns 14,207,324 shares of the company’s stock worth $127,724,000 after acquiring an additional 2,288,146 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Intellia Therapeutics by 17.8% in the fourth quarter. Vanguard Group Inc. now owns 13,010,001 shares of the company’s stock valued at $116,960,000 after purchasing an additional 1,965,181 shares during the last quarter. State Street Corp grew its position in shares of Intellia Therapeutics by 29.1% in the fourth quarter. State Street Corp now owns 6,418,836 shares of the company’s stock valued at $57,705,000 after purchasing an additional 1,447,967 shares during the last quarter. Baker BROS. Advisors LP increased its stake in shares of Intellia Therapeutics by 2.7% in the third quarter. Baker BROS. Advisors LP now owns 2,746,674 shares of the company’s stock worth $47,435,000 after purchasing an additional 71,000 shares during the period. Finally, Geode Capital Management LLC increased its stake in shares of Intellia Therapeutics by 4.1% in the fourth quarter. Geode Capital Management LLC now owns 2,696,187 shares of the company’s stock worth $24,243,000 after purchasing an additional 107,333 shares during the period. Institutional investors own 88.77% of the company’s stock.

Intellia Therapeutics Company Profile

Intellia Therapeutics, Inc (NASDAQ: NTLA) is a clinical‐stage biotechnology company focused on developing potentially curative genome editing therapies using the CRISPR/Cas9 platform. The company’s research spans both in vivo and ex vivo applications of CRISPR/Cas9, aiming to correct or disable disease‐causing genes with a single administration. Intellia’s lead in vivo program targets transthyretin amyloidosis (ATTR) by delivering CRISPR/Cas9 machinery directly to the liver, while additional preclinical efforts pursue treatments for hemophilia A, hereditary angioedema and other genetic disorders.

Beyond its in vivo pipeline, Intellia collaborates with strategic partners to extend the impact of its genome editing approach.