VBLT - Vascular Biogenics cut to Neutral at HC Wainwright after trial failure sinks stock 79%
- Vascular Biogenics ( NASDAQ: VBLT ) was downgraded to Neutral from Buy at H.C. Wainwright after the company's ovarian cancer drug ofra-vec failed a phase 3 trial.
- Vascular stock fell post-market July 19 following the news. As of premarket July 20, VBLT shares have shed -79.03% .
- The SA Quant Rating on VBLT is Hold , which takes into account factors such as growth and profitability, among others things. The rating is in contrast to the average Wall Street Analysts' Rating of Strong Buy , wherein 2 out of 4 analysts give it a Strong Buy rating. YTD, the stock had risen ~6% , which was better than its peers and the broad market indicator SP500TR, see chart here .
- Ofra-vec did not meet the main goals of showing statistically significant improvement in progression-free survival or overall survival in patients with platinum-resistant ovarian cancer in the study , dubbed OVAL.
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Vascular Biogenics cut to Neutral at HC Wainwright after trial failure sinks stock 79%