Telesis Bio downgraded to Sector Weight from Overweight at KeyBanc

KeyBanc analyst Paul Knight downgraded Telesis Bio to Sector Weight from Overweight without a price target post the Q2 report. The company is facing a “tepid” biopharma spending environment, which creates limited sales visibility, the analyst tells investors in a research note. Due to “significant dilution” via raising capital through an equity plus-warrant transaction and a slowdown in biopharma spending environment, the firm sees a decrease in Telesis Bio’s long-term visibility.