GRTS - Gritstone bio adds 14% after bullish view from Piper Sandler

• Gritstone bio ( NASDAQ: GRTS ) gained ~14% on Monday after Piper Sandler initiated its coverage with an Overweight recommendation, noting that the recently announced Phase 1 data for the biotech’s COVID-19 shot validates its vaccine technology for other infectious diseases.
• Piper Sandler analyst Edward Tenthoff with a $6 per share target on the stock, also highlighted upcoming catalysts for the company, including initial data expected in H2 2023 from a Phase 2/3 trial for an individualized cancer vaccine.
• Under its CORAL program, designed to evaluate its approach for infectious diseases, Gritstone ( GRTS ) runs studies to assess the potential of self-amplifying mRNA (samRNA) in generating B cell and T cell immunity against SARS-CoV-2.
• Last week, the company said data from ongoing CORAL-BOOST and CORAL-CEPI trials indicated tolerability and immunogenicity of samRNA vaccine candidates against COVID-19 as a primary dose and a booster shot.

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