Intellia Therapeutics (NTLA) Shares Down 9.9%

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Intellia Therapeutics Inc (NASDAQ:NTLA) shares dropped 9.9% during mid-day trading on Thursday . The company traded as low as $27.02 and last traded at $27.07. Approximately 515,423 shares traded hands during trading, a decline of 45% from the average daily volume of 941,759 shares. The stock had previously closed at $30.06.

NTLA has been the topic of a number of recent analyst reports. Chardan Capital upgraded Intellia Therapeutics from a “neutral” rating to a “buy” rating in a research report on Tuesday, May 15th. BidaskClub upgraded Intellia Therapeutics from a “hold” rating to a “buy” rating in a research report on Wednesday, May 16th. Wedbush reiterated an “outperform” rating and set a $36.00 target price on shares of Intellia Therapeutics in a research report on Friday, May 18th. ValuEngine upgraded Intellia Therapeutics from a “hold” rating to a “buy” rating in a research report on Saturday, June 2nd. Finally, Zacks Investment Research upgraded Intellia Therapeutics from a “hold” rating to a “buy” rating and set a $30.00 target price on the stock in a research report on Saturday, August 4th. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Intellia Therapeutics currently has a consensus rating of “Buy” and an average target price of $39.50.

The company has a market cap of $1.34 billion, a P/E ratio of -15.72 and a beta of 3.09.

Intellia Therapeutics (NASDAQ:NTLA) last posted its quarterly earnings data on Wednesday, August 1st. The company reported ($0.52) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.55) by $0.03. Intellia Therapeutics had a negative return on equity of 31.54% and a negative net margin of 284.56%. The firm had revenue of $7.68 million during the quarter, compared to the consensus estimate of $6.39 million. During the same period in the prior year, the company earned ($0.45) EPS. The firm’s revenue was up 30.2% compared to the same quarter last year. equities analysts anticipate that Intellia Therapeutics Inc will post -1.97 EPS for the current fiscal year.

In related news, Director Jean Francois Formela sold 6,686 shares of the stock in a transaction on Monday, July 16th. The stock was sold at an average price of $31.17, for a total value of $208,402.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 12.80% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Macquarie Group Ltd. acquired a new position in Intellia Therapeutics in the 2nd quarter valued at $101,000. Legal & General Group Plc increased its stake in shares of Intellia Therapeutics by 75.4% in the 2nd quarter. Legal & General Group Plc now owns 5,427 shares of the company’s stock worth $149,000 after acquiring an additional 2,333 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Intellia Therapeutics by 519.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,733 shares of the company’s stock worth $157,000 after acquiring an additional 4,807 shares during the last quarter. Sei Investments Co. increased its stake in shares of Intellia Therapeutics by 633.3% in the 2nd quarter. Sei Investments Co. now owns 5,866 shares of the company’s stock worth $160,000 after acquiring an additional 5,066 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System acquired a new stake in shares of Intellia Therapeutics in the 2nd quarter worth $203,000. 66.49% of the stock is owned by hedge funds and other institutional investors.

About Intellia Therapeutics (NASDAQ:NTLA)

Intellia Therapeutics, Inc, a gene editing company, focuses on the development of therapeutics utilizing a biological tool known as the CRISPR/Cas9 system. The company develops in vivo programs focused on liver diseases, including transthyretin amyloidosis, alpha-1 antitrypsin deficiency, hepatitis B virus, and inborn errors of metabolism programs.

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