Intellia Therapeutics (NASDAQ:NTLA) Share Price Crosses Above Fifty Day Moving Average – Should You Sell?

Shares of Intellia Therapeutics, Inc. (NASDAQ:NTLA) crossed above its fifty day moving average during trading on Tuesday. The stock has a fifty day moving average of $12.20 and traded as high as $12.31. Intellia Therapeutics shares last traded at $12.28, with a volume of 3,844,222 shares traded.

Analysts Set New Price Targets

Several analysts recently issued reports on NTLA shares. Barclays started coverage on shares of Intellia Therapeutics in a report on Tuesday, October 6th. They issued an “underweight” rating and a $8.00 price target on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Intellia Therapeutics in a research note on Thursday, October 15th. Evercore raised shares of Intellia Therapeutics from a “hold” rating to an “outperform” rating and set a $24.00 price objective for the company in a report on Friday, August 7th. Wall Street Zen downgraded shares of Intellia Therapeutics from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 8th. Finally, Citizens Jmp reissued a “market outperform” rating and issued a $30.00 target price on shares of Intellia Therapeutics in a research report on Wednesday, September 9th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, seven have issued a Hold rating and five have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $20.57.

Intellia Therapeutics Price Performance

The firm has a 50-day moving average price of $12.20 and a 200 day moving average price of $13.03.

Intellia Therapeutics (NASDAQ:NTLA) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.80) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.80). The firm had revenue of $7.66 million during the quarter, compared to the consensus estimate of $12.98 million. Intellia Therapeutics’s revenue was down 46.4% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.98) earnings per share. Research analysts expect that Intellia Therapeutics, Inc. will post -3.21 earnings per share for the current year.

Hedge Funds Weigh In On Intellia Therapeutics

A number of hedge funds have recently added to or reduced their stakes in NTLA. PNC Financial Services Group Inc. increased its stake in Intellia Therapeutics by 36.4% during the first quarter. PNC Financial Services Group Inc. now owns 3,552 shares of the company’s stock valued at $46,000 after purchasing an additional 948 shares during the last quarter. Wealthfront Advisers LLC lifted its position in shares of Intellia Therapeutics by 7.6% in the 1st quarter. Wealthfront Advisers LLC now owns 14,450 shares of the company’s stock worth $185,000 after buying an additional 1,018 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of Intellia Therapeutics by 2.7% in the 2nd quarter. Wellington Management Group LLP now owns 43,484 shares of the company’s stock worth $736,000 after buying an additional 1,125 shares during the last quarter. Axxcess Wealth Management LLC lifted its position in shares of Intellia Therapeutics by 6.1% in the 1st quarter. Axxcess Wealth Management LLC now owns 22,707 shares of the company’s stock worth $291,000 after buying an additional 1,308 shares during the last quarter. Finally, Cyndeo Wealth Partners LLC lifted its position in shares of Intellia Therapeutics by 6.1% in the 3rd quarter. Cyndeo Wealth Partners LLC now owns 26,986 shares of the company’s stock worth $325,000 after buying an additional 1,556 shares during the last quarter. Institutional investors and hedge funds own 88.77% of the company’s stock.

About Intellia Therapeutics

Intellia Therapeutics, Inc is a biotechnology company focused on developing potentially curative treatments using CRISPR-based gene-editing technology. The company is working to create therapies that can modify disease-causing genes inside the body, with the goal of addressing the underlying causes of serious genetic diseases rather than treating only their symptoms.

Intellia’s pipeline has included NTLA-2001, an investigational in vivo gene-editing therapy designed to reduce production of transthyretin for the treatment of transthyretin amyloidosis, and NTLA-2002, an investigational therapy intended to target hereditary angioedema.