SAB Biotherapeutics price target lowered to $20 from $25 at Chardan

Chardan analyst Keay Nakae lowered the firm’s price target on SAB Biotherapeutics (SABS) to $20 from $25 and keeps a Buy rating on the shares after the company reported its Q4 and full year results. The company remains on track to initiate the Phase 2 SAFEGUARD clinical study to evaluate SAB-142, notes the analyst, who lowered the firm’s price target to reflect a higher projected future share count as modeled future capital raises, including one in Q2, are expected to be more dilutive due to the current share price.