Better Therapeutics price target lowered to $9 from $14 at Chardan

Chardan lowered the firm’s price target on Better Therapeutics to $9 from $14 and keeps a Buy rating on the shares after the company reported its Q4 results and updated on its business, stated on its associated call that it is currently pursuing a multi-pronged financing strategy focused on raising capital from capital markets, seeking partnerships and looking at structured non-dilutive financing options. The firm’s lower price target reflects a higher projected future share count as modeled future capital raises are expected to be more dilutive due to the decline in share price over the last quarter.