Zacks Investment Research Downgrades CytoDyn (CYDY) to Hold

CytoDyn (OTCMKTS:CYDY) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Friday.

According to Zacks, “CytoDyn is a biotechnology company focused on the clinical development and potential commercialization of humanized monoclonal antibodies for the treatment and prevention of HIV infection. The Company has one of the leading monoclonal antibodies under development for HIV infection, PRO 140, which has completed Phase 2 clinical trials with demonstrated antiviral activity in humans and is currently in Phase 3 development. PRO 140 blocks the HIV co-receptor CCR5 on T cells, which prevents viral entry. Clinical trial results thus far indicate that PRO 140 does not negatively affect the normal immune functions that are mediated by CCR5. Results from seven Phase 1 and Phase 2 human clinical trials have shown that PRO 140 can significantly reduce viral burden in people infected with HIV. A recent Phase 2b clinical trial demonstrated that PRO 140 can prevent viral escape in patients during several months of interruption from conventional drug therapy. “

Several other equities research analysts also recently commented on the stock. HC Wainwright set a $2.00 target price on shares of CytoDyn and gave the company a “buy” rating in a research note on Wednesday, October 10th. ValuEngine raised shares of CytoDyn from a “hold” rating to a “buy” rating in a research note on Thursday, November 1st.

CYDY opened at $0.58 on Friday. The company has a market cap of $149.93 million, a P/E ratio of -1.98 and a beta of -0.03. CytoDyn has a fifty-two week low of $0.40 and a fifty-two week high of $0.84.

CytoDyn (OTCMKTS:CYDY) last posted its quarterly earnings results on Tuesday, October 9th. The biotechnology company reported ($0.07) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.06) by ($0.01). On average, analysts predict that CytoDyn will post -0.21 EPS for the current year.

About CytoDyn

CytoDyn Inc, a clinical-stage biotechnology company, focuses on the clinical development and commercialization of humanized monoclonal antibodies for the treatment and prevention of human immunodeficiency virus (HIV) infection. Its lead product is PRO 140, a therapeutic anti-viral agent, which is in Phase IIb treatment substitution trial, Phase IIb extension study, Phase IIb/III pivotal trial, and Phase IIb/III investigative trial for HIV; and Phase II trial for graft-versus-host disease.

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