UPDATE: Jefferies Downgrades Sigilon Therapeutics (SGTX) to Hold

(Updated - November 30, 2021 7:44 AM EST)

Jefferies analyst Dennis Ding downgraded Sigilon Therapeutics (NASDAQ: SGTX) from Buy to Hold with a price target of $4.00 (from $15.00).

The analyst comments "New HemA update this morning found a case of fibrosis in the 3rd patient dosed with SGTX's novel cell therapy, which was unexpected. We believe the stock will be rangebound since SGTX needs to conduct add'l analyses on why fibrosis occurred as well as work with the FDA with the new information to get the clinical hold lifted for HemA. Dosing for 2nd indication MPS-1 is also delayed and will push back further derisking of the platform too."

For an analyst ratings summary and ratings history on Sigilon Therapeutics click here. For more ratings news on Sigilon Therapeutics click here.

Shares of Sigilon Therapeutics closed at $3.77 yesterday.

You May Also Be Interested In

• JPMorgan Downgrades Grab Holdings Inc. (GRAB) to Underweight, 'Recommend tactical UW on risk of earnings missing expectations'
• Baird Downgrades National Instruments (NATI) to Neutral
• Bright Green (BGXX) to Raise $500M Under EB-5 Program