Finch Therapeutics Group Inc. (FNCH) PT Lowered to $17 at Jefferies

Jefferies analyst Roger Song lowered the price target on Finch Therapeutics Group Inc. (NASDAQ: FNCH) to $17.00 (from $29.00) while maintaining a Buy rating.

The analyst commented, "Co was unable to immediately resolve the clinical hold - a variety of issues require additional alignment with the FDA (testing algorithm, protocol, manufacturing changes, etc). While all issues should be addressable, at least a quarter delay is now expected. rCDI and autism programs are on hold and HBV is now shelved. Given the uncertainty, we delay the launch and reduce program PoS to 50% - PT to $17 but remain Buy."

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