J.P. Morgan analyst Brian Cheng has maintained their neutral stance on NTLA stock, giving a Hold rating today.
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Brian Cheng has given his Hold rating due to a combination of factors surrounding recent developments in Intellia Therapeutics’ clinical trials. A significant concern is the occurrence of a second Grade 4 liver toxicity event in the pivotal ATTR-CM Magnitude study, which has led to a self-imposed pause in dosing and screening as per the study’s protocol. This event mirrors a previous case with a similar 24-day window to liver toxicity, suggesting a potential underlying issue that has yet to be fully understood.
Management has ruled out the lipid nanoparticle (LNP) component as the cause of the liver toxicity, pointing instead to the gene target as a more likely driver. Given the timing of these events and the plateau observed in TTR reduction, there is caution about the gene-editing process being a contributing factor. These uncertainties and the need for further investigation into the underlying causes of the liver toxicity have led to a cautious stance, resulting in the Hold rating for Intellia Therapeutics’ stock.
In another report released today, Bernstein also downgraded the stock to a Hold with a $14.50 price target.
Based on the recent corporate insider activity of 24 insiders, corporate insider sentiment is neutral on the stock.