Intellia Therapeutics (NASDAQ:NTLA) Sets New 1-Year Low – Should You Sell?

Intellia Therapeutics, Inc. (NASDAQ:NTLA)’s stock price reached a new 52-week low on Tuesday . The stock traded as low as $9.21 and last traded at $9.35, with a volume of 302791 shares changing hands. The stock had previously closed at $9.58.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on NTLA. BMO Capital Markets dropped their target price on Intellia Therapeutics from $70.00 to $50.00 and set an “outperform” rating on the stock in a report on Friday, January 10th. Barclays dropped their price objective on shares of Intellia Therapeutics from $76.00 to $55.00 and set an “overweight” rating on the stock in a research note on Friday, November 8th. Citigroup decreased their target price on shares of Intellia Therapeutics from $25.00 to $19.00 and set a “neutral” rating for the company in a research note on Friday, October 25th. William Blair reaffirmed a “neutral” rating and issued a $14.00 price target on shares of Intellia Therapeutics in a research note on Monday, November 18th. Finally, Canaccord Genuity Group reiterated a “buy” rating and set a $90.00 price objective on shares of Intellia Therapeutics in a report on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Intellia Therapeutics currently has an average rating of “Moderate Buy” and an average price target of $48.71.

Intellia Therapeutics Trading Up 3.3 %

The business has a 50-day simple moving average of $11.51 and a 200-day simple moving average of $16.69.

Insiders Place Their Bets

In other news, CEO John M. Leonard sold 26,807 shares of Intellia Therapeutics stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $12.18, for a total value of $326,509.26. Following the transaction, the chief executive officer now directly owns 941,115 shares in the company, valued at approximately $11,462,780.70. The trade was a 2.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders sold a total of 29,000 shares of company stock valued at $352,551 in the last quarter. Insiders own 3.20% of the company’s stock.

Institutional Trading of Intellia Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. ARK Investment Management LLC lifted its holdings in shares of Intellia Therapeutics by 2.3% during the fourth quarter. ARK Investment Management LLC now owns 12,536,386 shares of the company’s stock worth $146,174,000 after buying an additional 280,946 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Intellia Therapeutics by 5.8% during the fourth quarter. Vanguard Group Inc. now owns 10,190,053 shares of the company’s stock valued at $118,816,000 after purchasing an additional 562,249 shares during the period. State Street Corp raised its stake in shares of Intellia Therapeutics by 17.9% in the third quarter. State Street Corp now owns 5,143,534 shares of the company’s stock valued at $105,700,000 after purchasing an additional 780,754 shares in the last quarter. Regeneron Pharmaceuticals Inc. bought a new position in Intellia Therapeutics in the fourth quarter worth $43,177,000. Finally, Geode Capital Management LLC boosted its stake in Intellia Therapeutics by 2.0% during the fourth quarter. Geode Capital Management LLC now owns 2,389,240 shares of the company’s stock worth $27,865,000 after buying an additional 45,930 shares in the last quarter. Institutional investors and hedge funds 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.