Intellia Therapeutics Receives 'Sell' Rating Upgrade from StockNews.com

Intellia Therapeutics (NASDAQ:NTLA) was recently upgraded to a "sell" rating by analysts from StockNews.com in a report released on Monday.

In addition to this upgrade, other analysts have shared their insights on Intellia Therapeutics. For instance, Barclays recently adjusted their target price for the company's shares from $55.00 to $26.00 while maintaining an "overweight" rating in a research note published on Friday. Similarly, Wedbush confirmed a "neutral" rating but lowered their target price from $14.00 to $10.00 in a report dated January 10th. Goldman Sachs reiterated a "sell" rating and set a $9.00 target price for Intellia Therapeutics in their report released on Friday. Meanwhile, JPMorgan Chase & Co. also reiterated a "neutral" rating with a significant price target reduction from $45.00 to $13.00. On the other hand, Chardan Capital reduced their price target from $91.00 to $68.00 but still rated the stock as a "buy." Overall, the consensus among analysts shows that while two have issued sell ratings, six have given hold ratings, ten have assigned buy ratings, and one has awarded a strong buy rating. MarketBeat reveals a consensus rating of "Moderate Buy" with a target price of $42.12 for the stock.

Intellia Therapeutics Stock Performance

During trading on Monday, Intellia Therapeutics experienced a decline of $0.64, bringing the share price down to $9.45. Approximately 2,998,270 shares were traded, compared to an average daily volume of 3,289,680 shares. Over the past year, the stock reached a low of $8.96 and a high of $33.28. Currently, the fifty-day simple moving average stands at $10.85, while the two-hundred-day simple moving average is $15.55. The company holds a market capitalization of $962.47 million and has a P/E ratio of -1.74 with a beta of 1.80.

Insider Buying and Selling

In recent news regarding insider transactions, CEO John M. Leonard sold 26,807 shares of Intellia Therapeutics on January 3rd at an average price of $12.18, totaling $326,509.26. After this transaction, Leonard retained ownership of 941,115 shares worth approximately $11,462,780.70. This sale represents a 2.77% decrease in his ownership stake. This information was reported in a filing with the Securities and Exchange Commission. Notably, in the last ninety days, insiders sold a total of 29,000 shares valued at $352,551. Company insiders currently hold 3.20% of Intellia's stock.

Institutional Inflows and Outflows

Recently, hedge funds have been active in modifying their stakes in Intellia Therapeutics. ARK Investment Management LLC increased its ownership by 2.3% during the fourth quarter, bringing their total to 12,536,386 shares valued at $146,174,000 after acquiring an additional 280,946 shares. Vanguard Group Inc. also increased its stake by 5.8% during the same period, now holding 10,190,053 shares worth $118,816,000 after purchasing 562,249 additional shares. Furthermore, State Street Corp. raised its stake by 17.9% during the third quarter, owning 5,143,534 shares valued at $105,700,000 following a purchase of 780,754 shares. Regeneron Pharmaceuticals Inc. added a new stake valued at $43,177,000 in the fourth quarter. Geode Capital Management LLC increased its holdings by 2.0% during the fourth quarter, now owning 2,389,240 shares worth $27,865,000. Overall, institutional investors now own 88.77% of Intellia's stock.

Intellia Therapeutics Company Overview

Intellia Therapeutics, Inc. is engaged in genome editing, focusing on developing curative therapeutics. The company's in vivo programs include NTLA-2001, which is undergoing a Phase 1 clinical trial for treating transthyretin amyloidosis; NTLA-2002, aimed at treating hereditary angioedema; and NTLA-3001, targeting alpha-1 antitrypsin deficiency related lung disease.

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