Chardan lowered the firm’s price target on SAB Biotherapeutics (SABS) to $12 from $20 and keeps a Buy rating on the shares after the company reported Q2 results. A recent financing will fund the potentially pivotal Phase IIb SAFEGUARD trial of SAB-142 in type I diabetes, notes the analyst, who cites dilution from the fundraising for the company’s lowered target.
TipRanks Cyber Monday Sale
- Claim 60% off TipRanks Premium for data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on SABS:
- SAB Biotherapeutics Reports Increased Losses Amid Funding Boost
- SAB Biotherapeutics Secures $175M Funding, Paving Way for Phase 2b Diabetes Trial and Justifying Buy Rating
- SAB Biotherapeutics reports Q2 EPS ($1.09) vs. (79c) last year
- SAB Biotherapeutics Secures $175M Investment, Strengthening Financial Position and Advancing Type 1 Diabetes Treatment
- SAB Biotherapeutics Secures $175M in Private Placement