B of A Securities Downgrades Cyteir Therapeutics to Underperform, Announces $3 Price Target
Portfolio Pulse from Benzinga Newsdesk
B of A Securities analyst Tazeen Ahmad has downgraded Cyteir Therapeutics (NASDAQ:CYT) from Neutral to Underperform and set a price target of $3. This downgrade suggests a bearish outlook on the company's stock by the analyst.
January 05, 2024 | 4:14 pm
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Cyteir Therapeutics has been downgraded by B of A Securities from Neutral to Underperform with a new price target of $3, indicating a negative sentiment towards the stock's future performance.
Downgrades by analysts, especially from neutral to underperform, typically lead to negative investor sentiment and can result in a decrease in stock price. The setting of a price target at $3 also suggests that the analyst believes the stock is currently overvalued, which could further impact the stock negatively in the short term.
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