Daily Update - Dec 27, 2022

Selected highlights of the day

By: Matthew Otto

Not much to report as trading volumes are low as the US is on holiday season between Christmas and New Year.

Leering drops Applied Molecular

• SVB Leerink analyst, Joseph Schwartz, has downgraded Applied Molecular from Outperform to Market Perform and reduced his price target from $15 to just $2. After the stock began trading in August, it quickly shot up to a high of $70. However, investor sentiment was short-lived as prices started dropping shortly after reaching their peak in February this year. Despite its downward trajectory, the analyst kept his positive outlook and adjusted price targets lower over time until now.

Geulah Livshits of Chardan Capital set her sights on Century Therapeutics

• Initiating coverage with a Buy rating and providing investors with a stock forecast of $19 . Despite the stock’s troublesome tumble from $28 to $6 since its August debut.

Century Therapeutics is an engineering platform for allogeneic, iPSC-derived cell therapy. By combining gene editing, protein engineering and technical development processes with manufacturing capabilities to create NK and T cells therapies.

Barclays keeps faith in Tim

• Despite a six-month trading slump, Barclays analyst Mathieu Robilliard continues to maintain an optimistic outlook on TIM stock. The price target was recently lowered from $16.5 to $16 but remains well above the 11 to 13 dollar range seen in recent months.

Lion Electric

• The first North American manufacturer of electric heavy-duty trucks and buses, has just been initiated by Abhishek Sinha from Northland Capital Markets with an Outperform rating and a $5 price target.

Although its stock price was trading high at $18 when it made a debut in April this year, recent market sentiment has caused Lion to lose 90% of value; as such it is now being traded at around $2 per share.

Despite current lower values however investors can look forward to 2021 where production will gradually ramp up for their new models – The LION5 truck and the Lion ambulance which are expected to reach commercial success sometime during the first half of 2023 once they pass final certification tests occurring early next year. Furthermore Lions battery factory located in Mirabel Quebec looks set to achieve annual capacity limits exceeding 5 gigawatt hours upon completion.