Insider Selling: Intellia Therapeutics (NASDAQ:NTLA) CAO Sells $23,169.52 in Stock

Intellia Therapeutics, Inc. (NASDAQ:NTLA – Get Free Report) CAO Michael Dube sold 1,864 shares of the company’s stock in a transaction that occurred on Friday, October 2nd. The stock was sold at an average price of $12.43, for a total value of $23,169.52. Following the transaction, the chief accounting officer directly owned 65,022 shares in the company, valued at approximately $808,223.46. This trade represents a 2.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Intellia Therapeutics Stock Performance

Shares of NASDAQ NTLA traded down $0.38 during midday trading on Tuesday, hitting $12.37. 7,941,147 shares of the stock traded hands, compared to its average volume of 5,123,875. Intellia Therapeutics, Inc. has a one year low of $7.95 and a one year high of $28.25. The business has a 50 day moving average price of $12.10 and a two-hundred day moving average price of $13.23. The company has a market cap of $1.73 billion, a PE ratio of -3.68 and a beta of 1.80.

Intellia Therapeutics (NASDAQ:NTLA – Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.80) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.80). The business had revenue of $7.66 million during the quarter, compared to the consensus estimate of $12.98 million. Intellia Therapeutics had a negative net margin of 672.16% and a negative return on equity of 57.79%. Intellia Therapeutics’s revenue was down 46.4% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.98) EPS. As a group, equities research analysts forecast that Intellia Therapeutics, Inc. will post -3.21 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

NTLA has been the subject of several recent research reports. Wolfe Research downgraded shares of Intellia Therapeutics from a “peer perform” rating to an “underperform” rating and set a $9.00 target price for the company. in a research report on Wednesday, July 15th. Citigroup reiterated a “market outperform” rating on shares of Intellia Therapeutics in a research note on Tuesday, August 25th. Canaccord Genuity Group reissued a “buy” rating and set a $49.00 price objective on shares of Intellia Therapeutics in a report on Tuesday, June 16th. New Street Research set a $25.00 target price on Intellia Therapeutics in a report on Monday, June 15th. Finally, Citizens Jmp reiterated a “market outperform” rating and set a $30.00 price target on shares of Intellia Therapeutics in a report on Wednesday, September 9th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, eight have issued a Hold rating and five have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $20.72.

Check Out Our Latest Stock Analysis on NTLA

Hedge Funds Weigh In On Intellia Therapeutics

Several institutional investors have recently modified their holdings of NTLA. Versant Capital Management Inc increased its position in shares of Intellia Therapeutics by 139.1% during the third quarter. Versant Capital Management Inc now owns 3,887 shares of the company’s stock valued at $47,000 after acquiring an additional 2,261 shares during the last quarter. Opaleye Management Inc. grew its stake in Intellia Therapeutics by 2.0% in the 2nd quarter. Opaleye Management Inc. now owns 250,000 shares of the company’s stock valued at $4,230,000 after purchasing an additional 5,000 shares during the period. Integrated Wealth Concepts LLC purchased a new stake in shares of Intellia Therapeutics during the 2nd quarter valued at $34,000. Arizona State Retirement System increased its position in shares of Intellia Therapeutics by 17.0% during the 2nd quarter. Arizona State Retirement System now owns 35,356 shares of the company’s stock valued at $598,000 after purchasing an additional 5,131 shares during the last quarter. Finally, Nykredit A S bought a new stake in shares of Intellia Therapeutics during the 2nd quarter worth $33,000. 88.77% of the stock is owned by institutional investors.

Intellia Therapeutics Company Profile

(Get Free Report)

Intellia Therapeutics, Inc is a biotechnology company focused on developing genome-editing therapies using CRISPR/Cas9 technology. The company is working to create treatments that can directly modify disease-causing genes, including through in vivo approaches in which the editing machinery is delivered into a patient’s body.

Its pipeline has included NTLA-2001, an investigational therapy designed to reduce production of transthyretin for the treatment of transthyretin amyloidosis, and NTLA-2002, an investigational program targeting kallikrein for hereditary angioedema.

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