Aura Biosciences price target lowered to $21 from $38 at BTIG

BTIG lowered the firm’s price target on Aura Biosciences to $21 from $38 and keeps a Buy rating on the shares. The company announced the first patient has been dosed in Phase 3 CoMpass in primary choroidal melanoma, consistent with its most recent guidance, but considering the timing of Phase 3 initiation and the new primary analysis timepoint disclosed last month, the firm now thinks that Phase 3 completion is more likely to occur in 2026, pushing out its estimated launch into 2027, the analyst tells investors in a research note.