Morgan Stanley analyst Terence Flynn has maintained their neutral stance on NTLA stock, giving a Hold rating today.
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Terence Flynn has given his Hold rating due to a combination of factors surrounding Intellia Therapeutics’ current situation. The company recently paused patient dosing and screening in its Nex-z MAGNITUDE Phase 3 studies due to a significant safety event, which raises concerns about the drug’s safety profile. Although the pause is self-imposed and not mandated by the FDA, the occurrence of grade 4 liver safety events has prompted caution.
Flynn notes that while the safety issue seems to be limited to the Nex-z program, the lack of a definitive mechanism for these events makes it difficult to completely rule out broader platform issues. The company’s efforts to work with experts and regulators are ongoing, but it will take time to resolve these concerns. Additionally, the Nex-z program is a major factor in Intellia’s valuation, and until more information is available, maintaining a Hold rating seems prudent.
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.