Renalytix price target lowered to $4 from $5 at BTIG

BTIG lowered the firm’s price target on Renalytix to $4 from $5 . The firm notes that shares of Renalytix declined by 23% following its Q4 report of a very slight revenue miss and following the company’s filing of a $200M shelf offering. BTIG is “surprised” at the magnitude of the move lower on the stock since Renalytix had already publicly communicated to the Street that it planned to raise money to finance its growth initiatives.