Vor Bio initiated with an Overweight at JPMorgan

JPMorgan initiated coverage of Vor Bio (VOR) with an Overweight rating and $43 price target The firm sees the company’s telitacicept as “highly de-risked” across a range of indications. Vor is focusing on global indications that are less competitive but still have significant unmet need, the analyst tells investors in a research note. JPMorgan sees a “significant valuation disconnect” in the shares based on the probability-adjusted value of telitacicept in myasthenia gravis and primary Sjogren’s disease alone.