Intellia Therapeutics (NASDAQ:NTLA) Stock Price Down 6.6% – Here’s What Happened
by Kim Johansen · The Markets DailyIntellia Therapeutics, Inc. (NASDAQ:NTLA – Get Free Report)’s stock price fell 6.6% during trading on Friday . The company traded as low as $14.96 and last traded at $14.8240. 1,047,110 shares changed hands during mid-day trading, a decline of 76% from the average session volume of 4,438,837 shares. The stock had previously closed at $15.87.
Analyst Ratings Changes
NTLA has been the subject of a number of analyst reports. JonesTrading raised shares of Intellia Therapeutics from a “hold” rating to a “buy” rating and set a $29.00 target price for the company in a research note on Wednesday, March 4th. reaffirmed a “buy” rating on shares of Intellia Therapeutics in a research report on Tuesday, March 3rd. Leerink Partners increased their price target on Intellia Therapeutics from $27.00 to $29.00 and gave the stock an “outperform” rating in a report on Tuesday, March 3rd. KeyCorp set a $25.00 price objective on Intellia Therapeutics in a research report on Wednesday, January 28th. Finally, HC Wainwright boosted their price objective on Intellia Therapeutics from $25.00 to $30.00 and gave the company a “buy” rating in a research note on Tuesday, March 3rd. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Intellia Therapeutics currently has a consensus rating of “Hold” and a consensus price target of $19.52.
Get Our Latest Stock Report on NTLA
Intellia Therapeutics Trading Down 4.6%
The company has a market cap of $1.79 billion, a price-to-earnings ratio of -3.95 and a beta of 1.99. The stock’s 50-day moving average is $13.53 and its 200-day moving average is $13.15.
Intellia Therapeutics (NASDAQ:NTLA – Get Free Report) last announced its quarterly earnings data on Thursday, February 26th. The company reported ($0.83) earnings per share for the quarter, beating the consensus estimate of ($0.99) by $0.16. The firm had revenue of $23.02 million for the quarter, compared to analyst estimates of $12.17 million. Intellia Therapeutics had a negative net margin of 609.85% and a negative return on equity of 56.81%. The business’s quarterly revenue was up 78.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($1.27) earnings per share. As a group, analysts predict that Intellia Therapeutics, Inc. will post -3.53 EPS for the current year.
Hedge Funds Weigh In On Intellia Therapeutics
A number of institutional investors have recently modified their holdings of NTLA. Oppenheimer & Co. Inc. raised its holdings in Intellia Therapeutics by 0.8% during the fourth quarter. Oppenheimer & Co. Inc. now owns 105,165 shares of the company’s stock worth $945,000 after buying an additional 808 shares during the last quarter. CWM LLC boosted its stake in Intellia Therapeutics by 4.7% during the 3rd quarter. CWM LLC now owns 19,187 shares of the company’s stock valued at $331,000 after purchasing an additional 856 shares during the last quarter. Comerica Bank increased its holdings in Intellia Therapeutics by 45.8% during the 4th quarter. Comerica Bank now owns 2,869 shares of the company’s stock worth $26,000 after purchasing an additional 901 shares in the last quarter. Federated Hermes Inc. lifted its holdings in shares of Intellia Therapeutics by 39.7% in the third quarter. Federated Hermes Inc. now owns 3,263 shares of the company’s stock valued at $56,000 after purchasing an additional 927 shares in the last quarter. Finally, Interchange Capital Partners LLC boosted its position in shares of Intellia Therapeutics by 9.7% during the third quarter. Interchange Capital Partners LLC now owns 11,695 shares of the company’s stock valued at $202,000 after buying an additional 1,030 shares during the last quarter. 88.77% of the stock is owned by institutional investors and hedge funds.
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.