Intellia Therapeutics (NASDAQ:NTLA) Sets New 52-Week Low – Here’s What Happened

Intellia Therapeutics, Inc. (NASDAQ:NTLA)’s stock price reached a new 52-week low on Wednesday . The stock traded as low as $11.34 and last traded at $11.66, with a volume of 3223027 shares changing hands. The stock had previously closed at $11.41.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on NTLA. Royal Bank of Canada reissued an “outperform” rating and set a $54.00 price objective on shares of Intellia Therapeutics in a report on Thursday, September 19th. Citigroup decreased their price target on shares of Intellia Therapeutics from $25.00 to $19.00 and set a “neutral” rating on the stock in a report on Friday, October 25th. Barclays dropped their price objective on shares of Intellia Therapeutics from $76.00 to $55.00 and set an “overweight” rating for the company in a report on Friday, November 8th. Stifel Nicolaus reduced their target price on Intellia Therapeutics from $80.00 to $64.00 and set a “buy” rating on the stock in a research note on Wednesday, September 11th. Finally, Chardan Capital lifted their price target on Intellia Therapeutics from $88.00 to $91.00 and gave the stock a “buy” rating in a research note on Monday, November 18th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Intellia Therapeutics has an average rating of “Moderate Buy” and a consensus price target of $54.94.

Intellia Therapeutics Trading Up 4.8 %

The business’s fifty day simple moving average is $14.15 and its 200-day simple moving average is $19.53. The firm has a market cap of $1.24 billion, a P/E ratio of -2.25 and a beta of 1.76.

Intellia Therapeutics (NASDAQ:NTLA) last posted its earnings results on Thursday, November 7th. The company reported ($1.34) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.37) by $0.03. The business had revenue of $9.10 million during the quarter, compared to the consensus estimate of $8.28 million. The firm’s revenue for the quarter was down 24.1% compared to the same quarter last year. During the same period in the previous year, the business earned ($1.38) earnings per share. Analysts anticipate that Intellia Therapeutics, Inc. will post -5.12 earnings per share for the current year.

Hedge Funds Weigh In On Intellia Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. EverSource Wealth Advisors LLC increased its position in Intellia Therapeutics by 763.5% during the 2nd 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. Eastern Bank bought a new stake in shares of Intellia Therapeutics during the 3rd quarter valued at about $41,000. Values First Advisors Inc. bought a new position in Intellia Therapeutics in the third quarter worth about $54,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Intellia Therapeutics by 27.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,674 shares of the company’s stock worth $77,000 after buying an additional 794 shares during the period. Finally, KBC Group NV boosted its position in Intellia Therapeutics by 37.3% during the 3rd quarter. KBC Group NV now owns 3,753 shares of the company’s stock valued at $77,000 after acquiring an additional 1,020 shares in the last quarter. 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.