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Home Covid-19 Arcturus Therapeutics plummets 53% after analyst downgrades following COVID-19 vaccine trial updates

Arcturus Therapeutics plummets 53% after analyst downgrades following COVID-19 vaccine trial updates


The #Singapore #Health #Sciences #Authority approved the #Arcturus vaccine candidate for #Phase 2 clinical studies, though #Wall #Street was disappointed the medical company’s latest vaccine update.

  • #Arcturus Therapeutics fell as much as 53% to $40 on #Tuesday, extending its losses for a second straight day after #Wall #Street was disappointed with the medical company’s COVID-19 vaccine updates.
  • #Analysts from #Barclays, #Raymond #James, and #Baird all downgraded their ratings for #Arcturus on #Tuesday.
  • #Arcturus released clinical and preclinical data for its COVID-19 vaccine candidate, ARCT-021, on #Monday while also announcing that the #Singapore #Health #Sciences #Authority approved the vaccine for #Phase 2 clinical studies.
  • #Barclays analyst #Gena #Wang wrote that the interim data of the vaccine candidate was “disappointing,” per #Seeking #Alpha.
  • #Watch #Arcturus Therapeutics trade live here.

#Arcturus Therapeutics fell as much as 53% to $40 on #Tuesday, extending its losses for a second straight day after #Wall #Street was disappointed with the medical company’s COVID-19 vaccine updates.

#Arcturus released clinical and preclinical data for its COVID-19 vaccine candidate, ARCT-021 on #Monday while also announcing that the #Singapore #Health #Sciences #Authority approved the vaccine for #Phase 2 clinical studies.

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#Barclays called the interim data of the vaccine candidate “disappointing,” according to a report cited by #Seeking #Alpha. #Analyst #Gena #Wang wrote that higher dose animal studies showed some efficacy, but “safety concerns limited further dose escalation.”

The firm downgraded its rating for #Arcturus from “overweight” to “equal weight.”  #Barclays holds a price target of $46 for the stock. #Raymond #James also downgraded its rating from “outperform”to “market perform,” while #Baird analysts downgraded the stock from “outperform” to “neutral” and lowered its price target from $79 to $69.

#Read more:#Jason #Teed has beaten 99% of his investor peers this year. #He breaks down how his #Morningstar gold-rated fund did it with a trend-following strategy, and shares his advice for navigating the stock market in 2021.

#Shares of #Arcturus currently trade around $42.

#Meanwhile, #Piper #Sandler senior biotech analyst #Yasmeen #Rahimi said she was disappointed in the vaccine candidate’s neutralizing titers, but “compelled by the robust pre-clinical data supporting T-cell-driven efficacy, and continue[s] to believe in ARCT’s mRNA technology.” #Rahimi rates #Arcturus “overweight” and has a price target of $140 for the stock.

#Last week, #Arcturus boasted a 989% year-to-date gain. #Monday and #Tuesday’s sell-off has erased those gains, but the stock has still returned over 290% this year.

#According to #Arcturus, no safety concerns were identified with the vaccine candidate and all adverse events except 2 were mild or moderate at doses selected for #Phase 2.

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[ source link ]
https://www.businessinsider.fr/us/arcturus-therapeutics-stock-price-analyst-downgrades-covid19-vaccine-trail-updates-singapore-2020-12

##Arcturus #Therapeutics #plummets #analyst #downgrades #COVID19 #vaccine #trial #updates

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