Stifel notes that positive Phase 1/2 GALILEO-1 update lifted Freeline shares on Wednesday morning. Setting aside past disappointments, the FLT201 update is nothing short of promising for the company and its AAVS3 delivery vector, the firm says. Despite rise in share price, Stifel can’t dismiss Freeline’s current financial strength that, given a fairly light catalyst calendar, could lead to dilution near-term. The firm keeps a Hold rating on the shares with a price target of $4.
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