BTIG analyst Mark Massaro raised the firm’s price target on Talis Biomedical to $5.00 from $0.35 and keeps a Sell rating on the shares. The firm is updating its model after the company’s 1-for-15 reverse stock split, but notes only “modest adjustments” to its model after its Q2 results. Talis remains “heads down” in advancing the development of the Talis One system and cartridges, initially for its COVID-19 test panel, followed by its COVID-19 + flu A + flu B test panel, the analyst tells investors in a research note.
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