Lava Therapeutics downgraded to Market Perform from Outperform at JMP

JMP Securities analyst Reni Benjamin downgraded Lava Therapeutics (LVTX) to Market Perform from Outperform without a price target following the Q3 report. The firm citers a lack of near-term milestones for the downgrade. With LAVA-1207 discontinued, LAVA-1266 Phase 1 underway, and a cash position of $78.9MM, the shares are fairly valued, the analyst tells investors in a research note.