William Blair downgraded Intellia Therapeutics (NTLA) to Market Perform from Outperform after the company announced that it has voluntarily paused enrollment and dosing of its Phase 3 MAGNITUDE and MAGNITUDE-2 studies for ATTR-cardiomyopathy and ATTR-polyneuropathy, respectively, as the company investigates its TTR gene editor nex-z after a patient dosed in the MAGNITUDE study was hospitalized following incidence of abdominal pain and subsequent observation of grade 4 increases in liver enzymes. The firm is downgrading shares based on current uncertainties surrounding the safety of NTLA-2001 and the remainder of patient enrollment for the MAGNITUDE studies, the analyst tells investors.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on NTLA:
- Intellia’s NTLA-2002: A Promising Long-Term Study Update
- Video: This stock is dragging down the in vivo gene editing therapy space
- Intellia Therapeutics downgraded to Neutral from Buy at Guggenheim
- Morning News Wrap-Up: Monday’s Biggest Stock Market Stories!
- Midday Fly By: Novartis to buy Avidity, Keurig Dr Pepper beats expectations