ARCT - Arcturus gets multiple downgrades after updating COVID-19 vaccine trial data

After sharp losses in post-market trading yesterday, Arcturus Therapeutics (ARCT) keeps falling in pre-market today in above-average volume as Wall Street downgrades the company following the update for its COVID-19 vaccine candidate yesterday.  The analysts from Barclays, Baird, and Raymond James have all downgraded the stock, and shares are trading 39.7% lower in the premarket. Calling the interim data of the vaccine candidate as ‘disappointing,’ Barclays has cut the rating to equal-weight from overweight. The price target is cut to $46 from the previous $68, reflecting 'the lower chance of success and market penetration.’Though ‘higher-dose animal studies showed some efficacy,’ the analyst, Gena Wang writes, adding that the ‘safety concerns limited further dose escalation.’Meanwhile, Piper Sandler analyst, Yasmeen Rahimi, points to ‘clean safety but underwhelming immunogenicity with disappointing neutralizing titers.’ Noting that the ‘disappointing titers were unexpected,’, the analyst continues to believe in the company’s mRNA technology, calling the ‘robust preclinical data supporting T-cell-driven efficacy’ as

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Arcturus gets multiple downgrades after updating COVID-19 vaccine trial data