Intellia Therapeutics (NASDAQ:NTLA) Stock Price Down 3.8%

Intellia Therapeutics, Inc. (NASDAQ:NTLA)’s share price was down 3.8% during mid-day trading on Tuesday . The stock traded as low as $21.60 and last traded at $21.61. Approximately 557,028 shares changed hands during mid-day trading, a decline of 64% from the average daily volume of 1,567,715 shares. The stock had previously closed at $22.47.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on NTLA shares. Cantor Fitzgerald reissued an “overweight” rating and set a $65.00 price objective on shares of Intellia Therapeutics in a research note on Monday, June 24th. BMO Capital Markets upped their price target on Intellia Therapeutics from $62.00 to $70.00 and gave the stock an “outperform” rating in a research note on Friday, May 10th. Truist Financial reaffirmed a “buy” rating and set a $120.00 price objective on shares of Intellia Therapeutics in a research report on Monday, June 24th. Canaccord Genuity Group reissued a “buy” rating and issued a $73.00 target price on shares of Intellia Therapeutics in a report on Thursday, June 27th. Finally, StockNews.com raised Intellia Therapeutics to a “sell” rating in a research report on Thursday, June 27th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $69.00.

Intellia Therapeutics Price Performance

The stock has a 50-day simple moving average of $23.82 and a two-hundred day simple moving average of $26.13.

Intellia Therapeutics (NASDAQ:NTLA) last released its quarterly earnings data on Thursday, May 9th. The company reported ($1.06) earnings per share for the quarter, beating the consensus estimate of ($1.35) by $0.29. The company had revenue of $28.94 million for the quarter, compared to analysts’ expectations of $15.60 million. As a group, equities analysts forecast that Intellia Therapeutics, Inc. will post -4.98 earnings per share for the current year.

Institutional Trading of Intellia Therapeutics

Several large investors have recently modified their holdings of NTLA. GAMMA Investing LLC lifted its holdings in Intellia Therapeutics by 1,322.0% in the second quarter. GAMMA Investing LLC now owns 2,645 shares of the company’s stock valued at $59,000 after acquiring an additional 2,459 shares during the period. Opaleye Management Inc. increased its position in shares of Intellia Therapeutics by 157.6% during the 1st quarter. Opaleye Management Inc. now owns 255,000 shares of the company’s stock valued at $7,015,000 after purchasing an additional 156,000 shares during the last quarter. Virtu Financial LLC bought a new position in shares of Intellia Therapeutics in the 1st quarter worth approximately $802,000. Comerica Bank boosted its holdings in shares of Intellia Therapeutics by 853.6% in the first quarter. Comerica Bank now owns 37,105 shares of the company’s stock worth $1,021,000 after buying an additional 33,214 shares during the last quarter. Finally, Bayesian Capital Management LP bought a new stake in Intellia Therapeutics during the first quarter valued at approximately $303,000. Institutional investors own 88.77% of the company’s stock.

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.