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

H.C. Wainwright analyst Patrick Trucchio downgraded Freeline Therapeutics to Neutral from Buy with a price target of $6.50, down from $15, after the company entered into a definitive agreement under which Syncona is expected to acquire Freeline for $6.50 per share. The firm says the offering price is less than what it had believed FLT201 to be worth but views the transaction as the best path forward for further development of FLT201.