SGTX - Sigilon cut to Hold at Jefferies after the case of fibrosis in hemophilia study

Sigilon Therapeutics (SGTX -3.3%) is trading lower after Jefferies downgraded the stock to Hold from Buy in reaction to the company’s announcement on Monday about a case of fibrosis found in its Phase 1/2 study for SIG-001 in hemophilia A. Noting that the event was “unexpected,” the analysts led by Dennis Ding warns Sigilon (NASDAQ:SGTX) shares could be rangebound as the company investigates the issue and works with the FDA to get the clinical hold on the trial lifted. The decision to delay the start of dosing Phase 1/2 trial of SIG-005 in mucopolysaccharidosis type I after the incident, will “push back further derisking of the platform too,” the team added. Their price target of $3.95 per share implies a premium of ~4.8% to the last close. Currently, Sigilon (SGTX) has only one Neutral rating and no Bearish ratings, according to Seeking Alpha’s Wall St. Analysts Rating, as indicated in the diagram

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Sigilon cut to Hold at Jefferies after the case of fibrosis in hemophilia study