David Lebovitz, an analyst from Citi, maintained the Hold rating on 23andMe Holding (ME – Research Report). The associated price target is $1.75.
David Lebovitz has given his Hold rating due to a combination of factors related to 23andMe Holding’s performance and potential. The company is set to present two crucial pieces of data at the upcoming Society for Immunotherapy of Cancer (SITC) meeting. This data includes updated safety and efficacy measurements from the ongoing Phase 1/2a study of 23ME’610 in patients with advanced solid malignancies and pharmacologic and safety data supporting the Phase 1 and Phase 2 dose selections for the same.
Investors are expected to closely scrutinize how the safety and efficacy profile of 23ME’610 develops with longer-term dosing. This includes the possibility of new safety risks, the maintenance of disease control, and any new clinical response signals. Given the high-stakes nature of these presentations and the potential impact on the company’s stock, Lebovitz has opted for a Hold rating for 23andMe Holding’s stock. This cautious approach reflects the uncertainty surrounding the outcomes of the upcoming SITC presentations.
Lebovitz covers the Healthcare sector, focusing on stocks such as Alnylam Pharma, Ionis Pharmaceuticals, and PTC Therapeutics. According to TipRanks, Lebovitz has an average return of -0.8% and a 50.00% success rate on recommended stocks.
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23andMe Holding (ME) Company Description:
VG Acquisition Corp is a blank check company.
Read More on ME:
- 23andMe Announces Poster Presentations on 23ME-00610, an Investigational Antibody Targeting CD200R1, at The Society for Immunotherapy of Cancer’s (SITC) 2023 Annual Meeting
- 23andMe and Sickle Cell 101 Collaborate to Expand Sickle Cell Awareness Program
- 23andMe, Sickle Cell 101 collaborate to expand sickle cell awareness program
- 23andME (NASDAQ:ME) Rises on FDA Approval to Report Additional Gene Variants
- 23andMe cleared by FDA to report additional BRCA variants
