CytoDyn (OTCMKTS:CYDY) Lowered to Hold at Zacks Investment Research

Zacks Investment Research cut shares of CytoDyn (OTCMKTS:CYDY) from a buy rating to a hold rating in a research report released on Monday, reports.

According to Zacks, “CytoDyn is a biotechnology company focused on the clinical development and potential commercialization of humanized monoclonal antibodies for the treatment and prevention of HIV infection. The Company has one of the leading monoclonal antibodies under development for HIV infection, PRO 140, which has completed Phase 2 clinical trials with demonstrated antiviral activity in humans and is currently in Phase 3 development. PRO 140 blocks the HIV co-receptor CCR5 on T cells, which prevents viral entry. Clinical trial results thus far indicate that PRO 140 does not negatively affect the normal immune functions that are mediated by CCR5. Results from seven Phase 1 and Phase 2 human clinical trials have shown that PRO 140 can significantly reduce viral burden in people infected with HIV. A recent Phase 2b clinical trial demonstrated that PRO 140 can prevent viral escape in patients during several months of interruption from conventional drug therapy. “

Separately, HC Wainwright reissued a buy rating and issued a $1.00 price objective (down from $1.50) on shares of CytoDyn in a research note on Monday, September 16th.

OTCMKTS CYDY traded down $0.01 during trading hours on Monday, hitting $0.33. 1,403,401 shares of the company traded hands, compared to its average volume of 1,061,522. The business’s 50-day moving average is $0.33 and its 200-day moving average is $0.40. CytoDyn has a twelve month low of $0.06 and a twelve month high of $0.65. The stock has a market capitalization of $131.21 million, a price-to-earnings ratio of -1.57 and a beta of 0.62.

CytoDyn Company Profile

CytoDyn Inc, a clinical-stage biotechnology company, focuses on the clinical development and commercialization of humanized monoclonal antibodies for the treatment and prevention of human immunodeficiency virus (HIV) infection. Its lead product is PRO 140, a therapeutic anti-viral agent, which is in Phase IIb treatment substitution trial, Phase IIb extension study, Phase IIb/III pivotal trial, and Phase IIb/III investigative trial for HIV; and Phase II trial for graft-versus-host disease.

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