Atreca downgraded to Neutral from Buy at H.C. Wainwright

H.C. Wainwright analyst Joseph Pantginis downgraded Atreca to Neutral from Buy without a price target. The company announced a “drastic” corporate reorganization, revealing plans to restructure its operations with the aim of reducing costs and extending its operational timeline, the analyst tells investors in a research note. The firm’s prior valuation of Atreca was based solely on ATRC-101, which is now currently suspended or potentially discontinued outright in the future.