JonesResearch analyst Catherine Novack downgraded Gritstone to Hold from Buy without a price target While the Phase 2 GRANITE data were directionally positive, Jones did not see a significant benefit in the overall population, and it does not have confidence in topline results at this time, the analyst tells investors in a research note. The firm cites lower confidence in Gritstone’s neoantigen vaccine programs for the downgrade.
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