Intellia Therapeutics (NASDAQ:NTLA) Stock Price Down 8.8% – What’s Next?

Intellia Therapeutics, Inc. (NASDAQ:NTLA) shares fell 8.8% on Tuesday . The stock traded as low as $13.80 and last traded at $13.6060. 1,428,999 shares changed hands during mid-day trading, a decline of 74% from the average session volume of 5,591,244 shares. The stock had previously closed at $14.92.

Analyst Ratings Changes

Several research firms have weighed in on NTLA. Citizens Jmp reiterated a “market outperform” rating and issued a $30.00 price target on shares of Intellia Therapeutics in a research report on Monday. HC Wainwright reiterated a “buy” rating and issued a $25.00 price target on shares of Intellia Therapeutics in a research report on Monday. The Goldman Sachs Group increased their price target on shares of Intellia Therapeutics from $8.00 to $9.00 and gave the stock a “sell” rating in a research report on Tuesday, April 28th. Chardan Capital increased their price target 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. Finally, William Blair upgraded shares of Intellia Therapeutics from a “market perform” rating to an “outperform” rating in a research report on Monday, March 2nd. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, ten have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $20.46.

Intellia Therapeutics Trading Up 4.5%

The business’s 50 day moving average is $13.70 and its two-hundred day moving average is $12.46. The company has a market cap of $2.12 billion, a PE ratio of -4.29 and a beta of 1.92.

Intellia Therapeutics (NASDAQ:NTLA) last released its earnings results on Monday, May 11th. The company reported ($0.81) earnings per share 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 analysts’ expectations of $13.81 million. During the same quarter in the previous year, the company earned ($1.10) EPS. As a group, equities research analysts predict that Intellia Therapeutics, Inc. will post -3.18 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. ARK Investment Management LLC lifted its stake in shares of Intellia Therapeutics by 19.2% during the 4th quarter. ARK Investment Management LLC now owns 14,207,324 shares of the company’s stock valued at $127,724,000 after buying an additional 2,288,146 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Intellia Therapeutics by 17.8% during the 4th quarter. Vanguard Group Inc. now owns 13,010,001 shares of the company’s stock valued at $116,960,000 after buying an additional 1,965,181 shares in the last quarter. State Street Corp lifted its stake in shares of Intellia Therapeutics by 29.1% during the 4th quarter. State Street Corp now owns 6,418,836 shares of the company’s stock valued at $57,705,000 after buying an additional 1,447,967 shares in the last quarter. Contrarius Group Holdings Ltd lifted its stake in shares of Intellia Therapeutics by 279.4% during the 3rd quarter. Contrarius Group Holdings Ltd now owns 5,889,936 shares of the company’s stock valued at $101,719,000 after buying an additional 4,337,428 shares in the last quarter. Finally, Baker BROS. Advisors LP lifted its stake in shares of Intellia Therapeutics by 2.7% during the 3rd quarter. Baker BROS. Advisors LP now owns 2,746,674 shares of the company’s stock valued at $47,435,000 after buying an additional 71,000 shares in the last quarter. Hedge funds and other institutional investors own 88.77% of the company’s stock.

About Intellia Therapeutics

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.