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Frequency Therapeutics downgraded to Neutral from Outperform at Baird

Baird downgraded Frequency Therapeutics to Neutral from Outperform with a price target of 50c, down from $4. The all-stock merger transaction with Korro Bio expected to close in the fourth quarter of this year, the analyst tells investors in a research note. The firm downgraded Frequency ahead of the closure of the transaction.

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