UPDATE: Baird Starts Rubius Therapeutics, Inc (RUBY) at Underperform

(updated to add analyst comment)

Baird analyst Madhu Kumar initiates coverage on Rubius Therapeutics, Inc (NASDAQ: RUBY) with a Underperform rating and a price target of $4.00.

The analyst comments "There is a substantial dearth of even preclinical data supporting RUBY’s red cell therapeutics (RCT) platform, particularly lead asset RTX-134 for phenylketonuria (PKU), a disease with an effective approved comparator drug and potentially disruptive gene therapy competition. As such, we believe interim Phase 1b results for RTX-134 in 2H19 could serve as a negative catalyst for RUBY shares."

For an analyst ratings summary and ratings history on Rubius Therapeutics, Inc click here. For more ratings news on Rubius Therapeutics, Inc click here.

Shares of Rubius Therapeutics, Inc closed at $9.41 yesterday.

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