UPDATE: Barclays Downgrades Arcturus Therapeutics (ARCT) to Underweight, 'High Risk of Covid-19 Vaccine Failure'
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Barclays analyst Gena Wang downgraded Arcturus Therapeutics (NASDAQ: ARCT) from Equalweight to Underweight with a price target of $25.00 (from $33.00).
The analyst comments "Downgrade ARCT to UW and lower our PT from $33 to $25.ARCT-021 had subpar immunogenicity data. In the Ph1 study, the 5ug single dose cohort showed NAb titers of only ~0.15x convalescent sera, or ~0.06x conv. sera from severe pts, both were much lower than the leading mRNA vaccines from MRNA and PFE/BNTX (3.9-4.1x conv. sera, 0.6-1.3x conv. sera from severe pts), and also lower than JNJ's single-shot vaccine (0.6x conv. sera, 0.5x conv. sera from severe pts).NAb titers were highly correlated with VE. We believed NAb titers were correlated with VE and predicted best clinical efficacy among PFE, MRNA and NVAX's COVID-19 vaccines based on NAb of ~4X convalescent level."
Shares of Arcturus Therapeutics closed at $35.09 yesterday.
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Related EntitiesBarclays, Gena Wang
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