Intellia Therapeutics (NASDAQ:NTLA) Trading Down 4.3% After Insider Selling

Intellia Therapeutics, Inc. (NASDAQ:NTLAGet Rating) was down 4.3% during trading on Monday following insider selling activity. The stock traded as low as $35.81 and last traded at $36.45. Approximately 2,197 shares were traded during mid-day trading, a decline of 100% from the average daily volume of 1,203,825 shares. The stock had previously closed at $38.10.

Specifically, EVP Laura Sepp-Lorenzino sold 2,508 shares of the business’s stock in a transaction that occurred on Wednesday, January 4th. The stock was sold at an average price of $37.21, for a total transaction of $93,322.68. Following the completion of the transaction, the executive vice president now owns 19,959 shares in the company, valued at approximately $742,674.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Intellia Therapeutics news, CFO Glenn Goddard sold 2,427 shares of the business’s stock in a transaction on Wednesday, January 4th. The stock was sold at an average price of $37.21, for a total transaction of $90,308.67. Following the completion of the transaction, the chief financial officer now owns 15,404 shares in the company, valued at approximately $573,182.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Laura Sepp-Lorenzino sold 2,508 shares of the business’s stock in a transaction on Wednesday, January 4th. The stock was sold at an average price of $37.21, for a total value of $93,322.68. Following the transaction, the executive vice president now owns 19,959 shares of the company’s stock, valued at approximately $742,674.39. The disclosure for this sale can be found here. Insiders sold 11,608 shares of company stock worth $431,934 in the last 90 days. 2.60% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. SVB Leerink reduced their price target on Intellia Therapeutics from $90.00 to $86.00 and set an “outperform” rating for the company in a research report on Friday, December 2nd. EF Hutton Acquisition Co. I assumed coverage on Intellia Therapeutics in a research report on Tuesday, November 1st. They set a “buy” rating and a $130.00 price target for the company. Raymond James dropped their price objective on Intellia Therapeutics from $127.00 to $124.00 and set an “outperform” rating on the stock in a research note on Friday, November 4th. JMP Securities boosted their price objective on Intellia Therapeutics from $106.00 to $111.00 and gave the stock a “market outperform” rating in a research note on Monday, September 19th. Finally, Morgan Stanley dropped their price objective on Intellia Therapeutics from $84.00 to $83.00 and set an “overweight” rating on the stock in a research note on Friday, November 4th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, Intellia Therapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $102.72.

Intellia Therapeutics Price Performance

The firm has a market cap of $2.86 billion, a PE ratio of -6.20 and a beta of 1.93. The business has a fifty day moving average price of $43.25 and a two-hundred day moving average price of $53.84.

Intellia Therapeutics (NASDAQ:NTLAGet Rating) last issued its quarterly earnings results on Thursday, November 3rd. The company reported ($1.49) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.31) by ($0.18). Intellia Therapeutics had a negative net margin of 859.92% and a negative return on equity of 47.79%. The business had revenue of $13.27 million for the quarter, compared to analysts’ expectations of $13.60 million. As a group, sell-side analysts forecast that Intellia Therapeutics, Inc. will post -6.03 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of NTLA. Wipfli Financial Advisors LLC purchased a new position in shares of Intellia Therapeutics during the third quarter valued at $25,000. National Bank of Canada FI purchased a new position in Intellia Therapeutics in the third quarter valued at about $39,000. China Universal Asset Management Co. Ltd. grew its stake in Intellia Therapeutics by 462.3% in the third quarter. China Universal Asset Management Co. Ltd. now owns 866 shares of the company’s stock valued at $48,000 after purchasing an additional 712 shares in the last quarter. Point72 Hong Kong Ltd purchased a new position in Intellia Therapeutics in the third quarter valued at about $61,000. Finally, Penserra Capital Management LLC purchased a new position in Intellia Therapeutics in the first quarter valued at about $97,000. Hedge funds and other institutional investors own 85.61% of the company’s stock.

About Intellia Therapeutics

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Intellia Therapeutics, Inc, a genome editing company, focuses on the development of therapeutics. The company's in vivo programs include NTLA-2001, which is in Phase 1 clinical trial for the treatment of transthyretin amyloidosis; and NTLA-2002 for the treatment of hereditary angioedema, as well as other liver-focused programs comprising hemophilia A and hemophilia B, hyperoxaluria Type 1, and alpha-1 antitrypsin deficiency.

Further Reading

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