VOR Shares Rally Over 40%In Pre-Market Trade After JPMorgan Initiates Bullish Coverage

The firm gave Vor Biopharma an ‘Overweight’ rating with a price target of $43.

• Vor Biopharma shares surged over 40% after JPMorgan initiated coverage of the company. 
• JPMorgan’s bullish stance comes amid Phase 3 clinical trial success for an autoimmune drug, telitacicept. 
• On Stocktwits, retail sentiment around the stock jumped to ‘extremely bullish’ while message volume rose to ‘extremely high’ levels.

Shares of Vor Biopharma Inc. (VOR) rallied over 40% on Tuesday in premarket trading after JPMorgan initiated coverage of the clinical-stage biopharma company with a bullish stance. 

In a note on Tuesday, as cited by TheFly, JPMorgan awarded  with an ‘Overweight’ rating and set a price target of $43. The firm said that it views VOR’s telitacicept, a recombinant fusion protein that is intended to treat autoimmune diseases, as "highly de-risked" across a range of indications. 

Tapping Market Gaps

JPMorgan’s coverage comes amid the pharma company’s success in its autoimmune disease treatment plans. In its latest quarterly results, VOR noted that telitacicept has “demonstrated consistent results on multiple efficacy endpoints, durable benefit, and a favorable safety profile”. 

VOR has a "significant valuation disconnect", JPMorgan said in its note, highlighting the probability-adjusted value of telitacicept to treat chronic conditions of myasthenia gravis and primary Sjogren's disease alone. The firm added that VOR, while focused on global indications that are less competitive, still has an unmet need that is significant. 

In other news, Vor Biopharma  a $100 million public offering of common stock priced at $10 per share in November. 

How Did Stocktwits Users React?

On Stocktwits, retail sentiment around VOR jumped from ‘bearish’ to ‘extremely bullish’ territory over the past 24 hours, while message volume rose from ‘low’ to ‘extremely high’ levels.

One user on the platform predicted that VOR’s share price could go up to $20. The stock was trading around $10 at the time of writing. 

https://stocktwits.com/apux/message/638580684

Shares of VOR have fallen almost 60% in the past one year.

For updates and corrections, email newsroom[at]stocktwits[dot]com<