JPMorgan Chase & Co. has adjusted its price target for Vor Biopharma (NASDAQ: VOR) from $43.00 to $40.00, as reported on October 20, 2023. Despite this decrease, the investment firm maintains an overweight rating on the stock, indicating a positive outlook compared to the broader market.
Several other analysts have weighed in on Vor Biopharma recently. Weiss Ratings reiterated a “sell (d-)” rating on the shares on October 8, 2023. In contrast, Stifel Nicolaus upgraded the stock from a “hold” rating to a “buy” rating on September 24, 2023, setting a price target of $55.00. On October 15, 2023, Baird R W changed its rating from “hold” to “strong-buy,” raising the price target to $64.00.
In addition, on the same day, HC Wainwright reduced its price objective for Vor Biopharma from $55.00 to $32.00 while maintaining a “buy” rating. Overall, the consensus rating for Vor Biopharma stands at “Moderate Buy,” with a consensus price target of $68.43, according to MarketBeat data.
Insider Transactions and Stock Performance
Recent insider trading activity reflects a significant shift in share ownership. On October 17, 2023, Ra Capital Management, L.P., a director at Vor Biopharma, sold 260,859 shares at an average price of $29.39. This transaction totaled approximately $7.67 million, resulting in a 94.53% decrease in their position. Following the sale, the director retained 15,104 shares valued at around $443,906.56.
In another notable transaction, major shareholder Reprogrammed Interchange LLC sold 75,262 shares on October 8, 2023, at an average price of $33.87, amounting to approximately $2.55 million. After this sale, the firm owned 1,423,659 shares, worth about $48.22 million, indicating a 5.02% decrease in their stake.
In total, insiders sold 1,674,800 shares valued at $49.52 million over the past 90 days, with company insiders now holding 0.45% of Vor Biopharma’s stock.
Institutional Investor Activity
Institutional investors have also adjusted their positions in Vor Biopharma. Bank of America Corp DE increased its holdings by an impressive 679.3% in the third quarter, acquiring an additional 4,144 shares for a total of 4,754 shares valued at approximately $232,000. Squarepoint Ops LLC entered a new position valued at around $230,000 during the same period.
BNP Paribas Financial Markets expanded its stake by 497.3%, now owning 6,075 shares worth $296,000 after purchasing an additional 5,058 shares. Bridgeway Capital Management LLC also acquired a new stake valued at about $304,000, while Polymer Capital Management HK LTD made a significant investment of approximately $1.04 million.
Institutional investors currently control 97.29% of Vor Biopharma’s stock, reflecting strong interest from large investors in the biotechnology sector.
Vor Biopharma is a clinical-stage biotechnology company focused on developing innovative allogeneic cell therapies for patients with hematologic malignancies. Their proprietary platform utilizes genome editing to produce off-the-shelf therapeutic candidates aimed at overcoming the limitations of traditional stem cell transplants. The lead program, VOR33, targets relapsed or refractory acute myeloid leukemia (AML) and high-risk myelodysplastic syndromes (MDS), emphasizing the company’s commitment to advancing treatment timelines and improving patient outcomes.
