Cyteir downgraded to Underweight from Equal Weight at Morgan Stanley

Morgan Stanley analyst Jeffrey Hung downgraded Cyteir Therapeutics to Underweight from Equal Weight with a price target of $2, down from $4. The analyst believes the company’s Phase 1 combination data will still be relatively early with outstanding questions remaining. The data are still too early to support the company’s hypothesis on lactate cytotoxicity and whether activity is related to MCT expression, the firm tells investors in a research note. It believes investors will be more cautious on the prospects of combination efficacy without clear monotherapy activity.