Nautilus Biotechnology assumed with an Equal Weight at Morgan Stanley

Morgan Stanley assumed coverage of Nautilus Biotechnology with an Equal Weight rating and $5 price target and updated estimates to reflect Q4 results and the push-out of its platform launch. While “encouraged” by Nautilus’ progress towards developing a highly differentiated single-molecule proteomics platform that “could disrupt how proteomics analysis is conducted,” the firm sees limited room for near-term upside in the stock over the next 12 months ahead of the commercial launch, which is not expected until the 2025 time frame.