Sophia Genetics downgraded to Equal Weight from Overweight at Morgan Stanley

Morgan Stanley analyst Tejas Savant downgraded Sophia Genetics to Equal Weight from Overweight with a price target of $5, down from $10, following a Q2 miss on macro-related biopharma and EMEA headwinds. Though leading indicators remain positive, the company’s guidance cut reflects continued pressure and meaningful upside is “unlikely” until 2025, the analyst tells investors. However, an “undemanding valuation” should provide downside support, the analyst added.