Gemini Therapeutics (GMTX) Issues Corporate Update

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Go back to Gemini Therapeutics (GMTX) Issues Corporate Update

Stifel Downgrades Gemini Therapeutics (GMTX) to Hold, Slashes Price Target to $2, Cites Lower Probability of Success for GEM103 and Higher Overall Risks

February 28, 2022 9:46 AM EST

Stifel analyst Paul Matteis downgraded Gemini Therapeutics Inc. (NASDAQ: GMTX) from Buy to Hold with a price target of $2.00 (from $11.00), following the company's most recent corporate update.

The analyst quotes: "We are downgrading GMTX to Hold. Plans announced this morning to pursue strategic alternatives and lay off 80%... More