Wall Street analysts have been busy this week, issuing downgrades for several notable companies. These downgrades signal a shift in sentiment among investors and can significantly impact stock prices.
Marqeta, Inc. (MQ)
faced a downgrade from Deutsche Bank analyst Bryan Keane, who moved the rating from Buy to Hold and reduced the price target from $9 to $4. Marqeta shares closed at $5.95 on Monday, reflecting the market’s reaction to the analyst’s negative outlook.
Cognex Corporation (CGNX)
also received a downgrade from Truist Securities analyst Jamie Cook, who shifted the rating from Buy to Hold and cut the price target from $46 to $43. Cognex shares closed at $40.85 on Monday.
Sana Biotechnology, Inc. (SANA)
saw a downgrade from JMP Securities analyst Reni Benjamin, who lowered the rating from Market Outperform to Market Perform. Sana Biotechnology shares closed at $3.76 on Monday.
Neumora Therapeutics, Inc. (NMRA)
was downgraded by JP Morgan analyst Tessa Romero, who changed the rating from Overweight to Neutral and reduced the price target from $18 to $15. Neumora Therapeutics shares closed at $11.71 on Monday.
IDEAYA Biosciences, Inc. (IDYA)
received a downgrade from Leerink Partners analyst Christopher Liu, who shifted the rating from Outperform to Market Perform and cut the price target from $41 to $27. IDEAYA Biosciences shares closed at $30.00 on Monday.These downgrades highlight the dynamic nature of the stock market and the importance of staying informed about analyst opinions. Investors should carefully consider the reasons behind these downgrades and evaluate their own investment strategies accordingly.
