Intellia Therapeutics (NASDAQ:NTLA) Stock Price Down 3.6%

Intellia Therapeutics, Inc. (NASDAQ:NTLA) traded down 3.6% during mid-day trading on Friday . The company traded as low as $22.07 and last traded at $22.18. 487,180 shares were traded during trading, a decline of 68% from the average session volume of 1,510,988 shares. The stock had previously closed at $23.00.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Canaccord Genuity Group reiterated a “buy” rating and issued a $73.00 price target on shares of Intellia Therapeutics in a research note on Thursday, June 27th. BMO Capital Markets raised their price target on shares of Intellia Therapeutics from $62.00 to $70.00 and gave the stock an “outperform” rating in a research report on Friday, May 10th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $65.00 price target on shares of Intellia Therapeutics in a report on Monday, June 24th. Royal Bank of Canada decreased their price objective on shares of Intellia Therapeutics from $60.00 to $54.00 and set an “outperform” rating for the company in a report on Friday, August 9th. Finally, Evercore ISI upgraded shares of Intellia Therapeutics to a “strong-buy” rating in a research note on Friday, August 9th. One analyst has rated the stock with a sell rating, four have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Intellia Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $61.58.

Intellia Therapeutics Stock Performance

The firm has a market cap of $2.16 billion, a P/E ratio of -4.19 and a beta of 1.81. The firm has a fifty day moving average of $23.85 and a 200-day moving average of $24.95.

Intellia Therapeutics (NASDAQ:NTLA) last posted its earnings results on Thursday, August 8th. The company reported ($1.52) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.23) by ($0.29). The business had revenue of $7.00 million during the quarter, compared to the consensus estimate of $19.68 million. The business’s revenue was down 48.5% compared to the same quarter last year. During the same quarter last year, the firm earned ($1.40) EPS. Equities research analysts expect that Intellia Therapeutics, Inc. will post -4.98 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Blue Trust Inc. increased its stake in shares of Intellia Therapeutics by 1,664.3% in the second quarter. Blue Trust Inc. now owns 1,482 shares of the company’s stock valued at $33,000 after purchasing an additional 1,398 shares during the period. EverSource Wealth Advisors LLC increased its stake in shares of Intellia Therapeutics by 763.5% in the second quarter. EverSource Wealth Advisors LLC now owns 1,753 shares of the company’s stock valued at $39,000 after purchasing an additional 1,550 shares during the period. First Horizon Advisors Inc. increased its stake in shares of Intellia Therapeutics by 22.1% in the second quarter. First Horizon Advisors Inc. now owns 2,604 shares of the company’s stock valued at $58,000 after purchasing an additional 472 shares during the period. GAMMA Investing LLC increased its stake in shares of 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 purchasing an additional 2,459 shares during the period. Finally, EntryPoint Capital LLC increased its stake in shares of Intellia Therapeutics by 61.1% in the first quarter. EntryPoint Capital LLC now owns 4,122 shares of the company’s stock valued at $113,000 after purchasing an additional 1,563 shares during the period. Institutional investors own 88.77% of the company’s stock.

About Intellia Therapeutics

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.