Vor Biopharma (NASDAQ:VOR) Shares Break Above Fifty Day Moving Average - Here's Why

Key Points

• Vor Biopharma shares broke above their 50-day moving average, reaching $21.74 before trading at $20.91, compared with a 50-day average of $20.82.
• Analyst sentiment has improved, with recent upgrades including Citigroup’s “strong-buy” rating and William Blair’s “outperform” rating. The stock carries a consensus “Moderate Buy” rating and an average price target of $38.00.
• The company reported a quarterly loss of $0.80 per share, missing estimates of $0.69, while hedge funds and institutional investors own a substantial 97.29% of outstanding shares.

Vor Biopharma Inc. (NASDAQ:VOR - Get Free Report) shares crossed above its fifty day moving average during trading on Thursday. The stock has a fifty day moving average of $20.82 and traded as high as $21.74. Vor Biopharma shares last traded at $20.91, with a volume of 967,944 shares changing hands.

Analysts Set New Price Targets

A number of brokerages have issued reports on VOR. Wedbush upped their price target on shares of Vor Biopharma from $18.00 to $27.00 and gave the company a "neutral" rating in a research note on Wednesday, August 12th. Wall Street Zen raised shares of Vor Biopharma from a "sell" rating to a "hold" rating in a report on Saturday, August 15th. Citigroup upgraded shares of Vor Biopharma to a "strong-buy" rating in a research note on Thursday, October 15th. William Blair assumed coverage on shares of Vor Biopharma in a research note on Wednesday, October 21st. They set an "outperform" rating for the company. Finally, Weiss Ratings raised shares of Vor Biopharma from a "sell (d+)" rating to a "hold (c-)" rating in a report on Monday, September 14th. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $38.00.

Vor Biopharma Price Performance

The company's fifty day moving average is $20.82 and its two-hundred day moving average is $17.31.

Vor Biopharma (NASDAQ:VOR - Get Free Report) last released its quarterly earnings data on Tuesday, August 11th. The company reported ($0.80) earnings per share for the quarter, missing analysts' consensus estimates of ($0.69) by ($0.11). Analysts expect that Vor Biopharma Inc. will post -2.56 earnings per share for the current year.

Hedge Funds Weigh In On Vor Biopharma

Several hedge funds and other institutional investors have recently added to or reduced their stakes in VOR. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Vor Biopharma in the 3rd quarter valued at about $58,000. China Universal Asset Management Co. Ltd. lifted its stake in Vor Biopharma by 25.2% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 10,795 shares of the company's stock worth $198,000 after purchasing an additional 2,171 shares in the last quarter. Engineers Gate Manager LP boosted its holdings in shares of Vor Biopharma by 37.5% during the 2nd quarter. Engineers Gate Manager LP now owns 36,951 shares of the company's stock worth $680,000 after purchasing an additional 10,071 shares during the last quarter. Braidwell LP boosted its holdings in shares of Vor Biopharma by 22.8% during the 2nd quarter. Braidwell LP now owns 573,104 shares of the company's stock worth $10,551,000 after purchasing an additional 106,330 shares during the last quarter. Finally, Wellington Management Group LLP acquired a new position in shares of Vor Biopharma during the 2nd quarter worth approximately $499,000. 97.29% of the stock is owned by hedge funds and other institutional investors.

Vor Biopharma Company Profile

Vor Biopharma Inc is a clinical-stage biotechnology company focused on developing engineered hematopoietic stem cell therapies for the treatment of cancer, particularly blood cancers. The company combines gene-editing technologies with targeted immunotherapies to address limitations associated with conventional cancer treatments.

Vor's platform is designed to create engineered hematopoietic stem cells that can protect healthy blood-forming cells from targeted therapies. Its lead program, VOR33, is an investigational CD33-edited hematopoietic stem cell therapy intended to support the use of CD33-targeted treatments in patients with acute myeloid leukemia.

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