As previously reported, Wedbush analyst Robert Driscoll downgraded Atreca to Neutral from Outperform with a price target of $1, down from $4. The firm notes Atreca discontinued lead asset ATRC-101 this quarter, citing financial considerations of next steps for the program. Wedbush views this as a necessary development considering a light cash runway, marginally extended to early 2024 with additional cuts to workforce and program expenditures. The company will focus current efforts on preclinical ADC program APN-497444, lead candidate selection for which is expected in 2023.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on BCEL:
- Atreca downgraded to Neutral from Outperform at Wedbush
- Atreca downgraded to Hold from Buy at Stifel
- Atreca downgraded to Neutral from Buy at H.C. Wainwright
- Atreca files $300M mixed securities shelf
Looking for a trading platform? Check out TipRanks' Best Online Brokers , and find the ideal broker for your trades.
Report an Issue