Vaccitech surges despite Morgan Stanley downgrade

seekingalpha2023-09-26

Vaccitech plc (NASDAQ:VACC) ADRs advanced on Monday on above-average volumes even as Morgan Stanley downgraded the U.K.-based developer of cellular immunotherapeutics to Equal Weight from Overweight. ...

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The microcap biotech doubled in value to reach the highest level in more than a year at the close of regular trading. ~34.5M of its ADRs were changing hands compared to the 65-day volume of ~13.5K.  Morgan Stanley Maxwell Skor’s bearish thesis mainly centers on VTP-300, Vaccitech’s  most advanced asset targeted at chronic hepatitis B infection . He cuts his probability of success for VTP-300, citing concerns about a combination approach to treat CHB and a requirement to reduce surface antigen levels  before the treatment. Skor argued that the requirement for low surface antigens and the unknowns of combining multiple approaches to treat HBV complicate VTP-300’s market entry and limit its total addressable market. While Morgan Stanley cut its price target to $3.25 from $14, Alliance Global Partners laun","collect":0,"end_time":0,"defaultTopTitle":"seekingalpha.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"LU0098860793.USD":"FRANKLIN INCOME \"A\" INC","LU1989772840.SGD":"CPR Invest - Climate Action A2 Acc SGD-H","LU1989772923.USD":"CPR Invest - Climate Action A2 Acc USD-H","LU1162221912.USD":"FRANKLIN INCOME \"A\" (USD) ACC","BK4581":"高盛持仓","BK4504":"桥水持仓","LU0320765646.SGD":"FTIF - Franklin Income A MDIS SGD-H1","BK4127":"投资银行业与经纪业","IE00BZ1G4Q59.USD":"LEGG MASON CLEARBRIDGE US EQUITY SUSTAINABILITY LEADER \"A\"(USD) INC (A)","LU1363072403.SGD":"Fidelity Global Financial Services A-ACC-SGD","LU0106831901.USD":"贝莱德世界金融基金A2","BK4539":"次新股","MS":"摩根士丹利","BK4534":"瑞士信贷持仓","BK4585":"ETF&股票定投概念","BK4139":"生物科技","LU0971096721.USD":"富达环球金融服务 A","LU1074936037.SGD":"JPMorgan Funds - US Value A (acc) SGD","CHB":"Global X China Biotech Innovation ETF","IE00BKVL7J92.USD":"Legg Mason ClearBridge - US Equity Sustainability Leaders A Acc USD","LU1668664300.SGD":"Blackrock World Financials A2 SGD-H","BK4588":"碎股"},"translate_title":"尽管摩根士丹利评级下调，但Vaccitech股价飙升","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"VACC":1,"MS":1,"CHB":1},"content_text":"Vaccitech plc (NASDAQ:VACC) ADRs advanced on Monday on above-average volumes even as Morgan Stanley downgraded the U.K.-based developer of cellular immunotherapeutics to Equal Weight from Overweight. The microcap biotech doubled in value to reach the highest level in more than a year at the close of regular trading. ~34.5M of its ADRs were changing hands compared to the 65-day volume of ~13.5K.  Morgan Stanley Maxwell Skor’s bearish thesis mainly centers on VTP-300, Vaccitech’s (VACC) most advanced asset targeted at chronic hepatitis B infection (CHB). He cuts his probability of success for VTP-300, citing concerns about a combination approach to treat CHB and a requirement to reduce surface antigen levels (HBsAg) before the treatment. Skor argued that the requirement for low surface antigens and the unknowns of combining multiple approaches to treat HBV complicate VTP-300’s market entry and limit its total addressable market. While Morgan Stanley cut its price target to $3.25 from $14, Alliance Global Partners launched its coverage on VACC with a $12 per share target and a Buy recommendation.   More on Vaccitech  Seeking Alpha’s Quant Rating on Vaccitech Historical earnings data for Vaccitech Financial information for Vaccitech","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2370129038"}