Wolfe downgrades Intellia to Peer Perform on Nex-z safety issue

Wolfe Research last night downgraded Intellia Therapeutics (NTLA) to Peer Perform from Outperform without a price target The safety issue for nexiguran ziclumeran hinders the bull thesis, the analyst tells investors in a research note. The firm expects the stock “to become fragile as investors will likely be intolerant of the FDA hold.” Wolfe now sees no fundamental reason to drive the stock higher.