Intellia Therapeutics (NASDAQ:NTLA) saw its stock tumble by 19% after releasing a safety update related to its Phase 3 MAGNITUDE trial for the investigational gene-editing therapy, nex-z, aimed at treating transthyretin amyloidosis with cardiomyopathy (ATTR-CM).
The decline followed a disclosure of a serious but asymptomatic adverse event involving a patient who experienced Grade 4 elevations in liver transaminases—a marker of potential liver stress or injury. While the patient did not require hospitalization or medical treatment, the update sparked investor concern.
The safety development was included in a U.S. Securities and Exchange Commission (SEC) filing dated May 28, 2025, which also provided a broader overview of Intellia’s late-stage clinical programs. According to the company, the liver enzyme abnormality is resolving, with values showing improvement.
So far, roughly 365 patients have been enrolled in the MAGNITUDE study, out of an expected total of 765.
In response to the news, analysts offered mixed reactions. Silvan Tuerkcan of Citizens JMP maintained a Market Perform rating, stating that while the update “might lead to volatility,” he believes that “several clarifications from management could mitigate concerns.”
Greg Harrison from BofA Securities reiterated his Buy rating despite trimming his price target from $43 to $39. He noted the possibility of a “potential overhang on safety until more data becomes available.”
Similarly, H.C. Wainwright’s Mitchell S. Kapoor remained bullish, holding a Buy rating with a $30 price target. He pointed to the isolated nature of the event and commented that it may be acceptable “in the risk-benefit profile of nex-z.”
Cantor Fitzgerald analyst Rick Bienkowski also held firm with an Overweight rating and a $65 price target, stating, “we don’t think it’s quite time to panic yet, and see the sharp move as an overreaction.”
Outside of the MAGNITUDE study, Intellia reported encouraging progress in its other Phase 3 programs for hereditary angioedema and ATTRv-PN. Enrollment for both trials is said to be on track, with commercial launches expected in the coming years if the data remains favorable.
While investors reacted strongly to the safety signal in the ATTR-CM trial – given its significance to Intellia’s future – company officials confirmed they are closely monitoring the situation as the study continues to enroll patients and generate further data.