AURA - Aura Biosciences slips despite bullish views from analysts on expiry of quiet period

Aura Biosciences (AURA -7.9%) is trading lower despite buy-equivalent ratings issued by several Wall Street analysts as the company faces the expiry of its post-IPO quiet period. BTIG analyst Bert Hazlett has initiated the coverage on Aura (NASDAQ:AURA) with a Buy recommendation, highlighting the virus-like drug conjugates (VDC) technology platform used by the development-stage biotech. In addition to the lead program for AU-011 in choroidal melanoma, Hazlett expects the company to advance more VDC candidates “with additional warheads” in the future. The price target of $38 per share implies a premium of ~92% to the last close. Meanwhile, Cowen and Evercore ISI have also issued Outperform ratings on the stock; the price target of $35 per share of the latter indicates a premium of ~77% to the last close. Aura (AURA) sought nearly $76 in gross pross proceeds with its IPO in October.

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Aura Biosciences slips despite bullish views from analysts on expiry of quiet period