# Intellia Therapeutics Shares Plummet 19% Following Phase 3 Safety Update

Intellia Therapeutics (NASDAQ: NTLA) experienced a significant drop in its stock price, plummeting 19%, after releasing a safety update from its ongoing Phase 3 MAGNITUDE study. This clinical trial is investigating the gene-editing therapy nex-z as a treatment for transthyretin amyloidosis with cardiomyopathy (ATTR-CM). The update revealed an alarming case of asymptomatic Grade 4 elevations in liver transaminases in one of the study's patients.

According to an SEC filing dated May 28, 2025, Intellia has enrolled approximately 365 out of an expected 765 patients in the MAGNITUDE study. The patient involved in the adverse event is reportedly improving without requiring hospitalization or medical intervention. This particular incident has heightened concerns among investors, although the company insists close monitoring is ongoing.

Despite the unsettling news, several analysts have offered tempered perspectives on the situation. Citizens JMP analyst Silvan Tuerkcan retained a Market Perform rating on Intellia, suggesting that while the safety disclosure might induce volatility, management's responses could assuage investors' concerns. Similarly, BofA Securities analyst Greg Harrison lowered his price target from $43 to $39 but reiterated a Buy rating, indicating that the safety issue might present a temporary cloud until further data is available.

Mitchell S. Kapoor from H.C. Wainwright also upheld a Buy rating with a $30 price target, interpreting the adverse event as rare and potentially acceptable within the scope of nex-z’s risk-benefit profile. Rick Bienkowski from Cantor Fitzgerald maintained an Overweight rating with a $65 price target, dismissing the sharp market reaction as an overreaction.

In addition to the MAGNITUDE study update, Intellia reported positive progress in enrollment for other Phase 3 trials targeting hereditary angioedema and ATTRv-PN. The company remains optimistic about completing enrollment on schedule and is eyeing potential commercial launches in the coming years.

While the safety update caused apprehension, it underscores the complexities and uncertainties inherent in pioneering gene-editing therapies. Intellia continues to keep a vigilant eye on the adverse events as the MAGNITUDE study advances, aiming to reassure stakeholders and forge ahead with its innovative treatments.