Intellia Therapeutics (NASDAQ: NTLA) Stock Price Drops 9.6% After Analyst Downgrade

Shares of Intellia Therapeutics, Inc. (NASDAQ: NTLA) saw a significant decline of 9.6% during midday trading on Friday. This drop followed an analyst downgrade from Barclays, which revised its price target on the stock from $55.00 to $26.00. Barclays has maintained an overweight rating on Intellia Therapeutics. At one point, the shares were traded as low as $9.52, closing the day at $9.82. During this trading session, 622,529 shares changed hands, reflecting a decline of 81% from the average volume of 3,192,816 shares. The previous closing price was $10.86.

Analyst opinions have varied, with several research reports coming out on NTLA. Goldman Sachs reiterated a "sell" rating and set a price target of $9.00. Chardan Capital adjusted their target downward from $91.00 to $68.00 while keeping a "buy" rating. BMO Capital Markets also lowered its price objective from $70.00 to $50.00 and rated the stock as "outperform." Citigroup raised its target price from $12.00 to $14.00, providing a "neutral" rating. Lastly, JPMorgan Chase kept a "neutral" rating but reduced the target price significantly from $45.00 to $13.00. Overall, two analysts have rated the stock with a sell recommendation, six have rated it as a hold, ten as a buy, and one as strong buy. MarketBeat.com indicates that Intellia Therapeutics currently holds an average rating of "Moderate Buy" with a consensus price target of $42.12.

Insider Trading Activity

In related news, CEO John M. Leonard sold 26,807 shares on Friday, January 3rd, at an average price of $12.18 for a total of $326,509.26. Following this transaction, Leonard now owns 941,115 shares valued at approximately $11,462,780.70, representing a 2.77% decrease in his stock position. This sale was documented in a filing with the Securities & Exchange Commission (SEC). In the past quarter, insiders have sold a total of 29,000 shares valued at $352,551. Corporate insiders hold around 3.20% of the company's stock.

Institutional Investor Movements

Hedge funds and institutional investors have made notable changes in their holdings of Intellia Therapeutics shares. GF Fund Management CO. LTD. embarked on a new investment in the fourth quarter, valued around $25,000. Sterling Capital Management LLC expanded its holdings by 866.2%, acquiring an additional 2,867 shares and bringing its total to 3,198 shares valued at $37,000. Whipplewood Advisors LLC and Resona Asset Management Co. Ltd. also initiated new positions in the fourth quarter, investing approximately $40,000 and $43,000, respectively. Additionally, Jones Financial Companies Lllp raised its stake in Intellia Therapeutics by 140.9%, increasing its holding to 3,898 shares, now worth around $45,000. Institutional investors and hedge funds currently own about 88.77% of the shares.

Intellia Therapeutics Stock Overview

The company has a market capitalization of approximately $1.03 billion, with a price-to-earnings ratio of -1.85 and a beta value of 1.80. Its 50-day moving average is $10.90, while the 200-day moving average stands at $15.72.

About Intellia Therapeutics

Intellia Therapeutics, Inc. is a genomic editing company focused on developing curative therapies. Its in vivo programs include NTLA-2001, currently in a Phase 1 clinical trial targeting transthyretin amyloidosis; NTLA-2002 for hereditary angioedema; and NTLA-3001 targeting alpha-1 antitrypsin deficiency-related lung disease.

Intellia, Stocks, Analysts