SERA - Sera Prognostics downgraded to neutral at Citi following quarterly results

Citi has downgraded diagnostics company Sera Prognostics (SERA -7.7%) to neutral from buy following what it called disappointing Q4 2021 results and fiscal year 2022 revenue guidance. The firm also cut its target price to $4 from $18 (~1% downside based on Tuesday's close). Analyst Patrick Donnelly said that Sera's (SERA -7.7%) Q4 revenue of $26K was well below his estimate of $216K. And the company's FY 22 revenue guidance of ~$500K was significantly below Citi's estimate of $7.2M. "Although we remain constructive on the long-term story, it will likely take much longer than previously anticipated to materialize," he wrote.

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Sera Prognostics downgraded to neutral at Citi following quarterly results