Vor Bio price target lowered to $6 from $12 at JMP Securities

JMP Securities lowered the firm’s price target on Vor Bio (VOR) to $6 from $12 and keeps an Outperform rating on the shares. Following a trem-cel update that provides increasingly more evidence for relapse-free survival improvements in acute myeloid leukemia post transplant, Vor addressed its cash overhang with a $56M public equity financing, extending the runway to the end of 2025, the analyst tells investors in a research note. JMP dropped the price target saying the transactions significantly increases the number of outstanding shares.