Research analysts at JPMorgan Chase & Co. have adjusted their price target for Vor Biopharma (NASDAQ: VOR) from $43.00 to $40.00, according to a report released on October 20, 2023. Despite the reduction, the firm maintains an “overweight” rating on the stock, suggesting that the share price could potentially climb by 207.81% based on its previous closing value.
This revision follows a series of insights from various research firms regarding Vor Biopharma’s stock performance. On October 15, Baird R W upgraded the company’s shares from a “hold” rating to a “strong-buy” rating. Meanwhile, Wedbush initiated coverage on the stock with a “neutral” rating on November 25, 2023, while Zacks Research improved its rating from “strong sell” to “hold” on November 11, 2023. Contrarily, Weiss Ratings reaffirmed a “sell (d-)” rating on October 8, 2023, and Stifel Nicolaus set a target price of $55.00 after raising its rating from “hold” to “buy” on September 24, 2023.
Currently, the stock holds a consensus rating of “Moderate Buy” with an average price target of $68.43, according to MarketBeat. The landscape of ratings includes one strong buy, six buys, five holds, and one sell.
Recent Trading Activity and Insider Transactions
In other developments, Vor Biopharma’s stock experienced a modest increase of 1.5% following the news about the revised price target. Insider trading activity has also been notable. On October 20, major shareholder Reprogrammed Interchange LLC sold 11,616 shares of Vor Biopharma at an average price of $30.05, totaling approximately $349,060.80. Post-sale, the firm retains 1,167,109 shares, valued at around $35,071,625.45, reflecting a 0.99% reduction in ownership.
Additionally, on October 30, Director Ra Capital Management, L.P. sold 24,579 shares at an average price of $25.12, resulting in a transaction value of $617,424.48. Following this sale, the director holds 779,652 shares valued at approximately $19,584,858.24, marking a 3.06% decrease in their position. Over the last three months, insiders have sold a total of 1,674,800 shares, amounting to $49,516,960. Notably, insiders currently own 0.45% of the company’s stock.
Institutional Investments Surge
Institutional interest in Vor Biopharma has also been rising. Goldman Sachs Group Inc. increased its stake in the company by 218.2% during the first quarter, now holding 84,945 shares valued at $61,000 after acquiring an additional 58,247 shares. Other institutional investors, such as XTX Topco Ltd., OMERS ADMINISTRATION Corp., Jane Street Group LLC, and Squarepoint Ops LLC, have also established new positions in Vor Biopharma during recent quarters, with significant investments totaling hundreds of thousands of dollars.
Institutional investors collectively own 97.29% of Vor Biopharma’s stock, indicating strong confidence in the company’s future prospects.
Vor Biopharma, a clinical-stage company, specializes in developing engineered hematopoietic stem cell (eHSC) therapies aimed at treating cancer patients. Its leading candidate, VOR33, is currently in phase 1/2 trials targeting acute myeloid leukemia (AML) and other hematological malignancies. The company’s innovative approach includes the development of eHSCs that lack CD33, a protein associated with AML.
This ongoing shift in ratings and insider activity reflects the dynamic nature of Vor Biopharma’s market position and the broader interest in its promising therapeutic developments.
