Yield10 Bioscience downgraded to Hold from Buy at Lake Street

Lake Street downgraded Yield10 Bioscience to Hold from Buy with a price target of 50c, down from $3. While the firm remains “firm in our belief that Yield10 has developed a product line with exceptional market fit and potential best-in-class status” across the distinct categories of biofuel feedstock, bioplastics and aquaculture feed, it can no longer maintain a Buy given the company’s funding status, the analyst tells investors. On December 4, the company furloughed a majority of its workforce “until such time as the Company is able to raise additional funding,” but in the two months since, no such raise has occurred, the analyst noted.