In a report released today, Jonathan Wolleben from JMP Securities reiterated a Buy rating on Aura Biosciences Inc (AURA – Research Report), with a price target of $19.00.
Jonathan Wolleben has given his Buy rating due to a combination of factors including the progress of Aura Biosciences Inc.’s clinical trials and its financial stability. Aura Biosciences has most of its sites activated for the Phase 3 CoMpass trial focused on primary choroidal melanoma, and this advancement is critical as it positions the company toward pivotal data that will be available after the last patient completes 15 months of follow-up. The anticipation for enrollment updates is high, as these will provide a clearer timeline for when this crucial data will be accessible to investors.
Additionally, the upcoming Phase 1 bladder cancer data expected around mid-2024 is seen as a potential catalyst for the stock’s performance. The treatment has already shown promise with a complete histologic response in the first patient treated. The financial situation of Aura Biosciences is also strong, with the company ending the year with $226 million in cash, which is estimated to sustain operations into the second half of 2026. This financial runway, combined with the strategic expansion into choroidal metastasis with a Phase 2 trial and the potential for additional data by year-end 2024, further supports the Buy rating.
Wolleben covers the Healthcare sector, focusing on stocks such as Madrigal Pharmaceuticals, Crinetics Pharmaceuticals, and DBV Technologies SA – American. According to TipRanks, Wolleben has an average return of 12.0% and a 42.27% success rate on recommended stocks.
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Aura Biosciences Inc (AURA) Company Description:
Aura Biosciences Inc is a clinical-stage oncology company developing a novel technology platform based on virus-like drug conjugates to target and destroy cancer cells selectively while activating the immune system to create long lasting anti-tumor immunity.
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