Adagio Therapeutics Resumes Slide After Jefferies Downgrade By Investing.com – Investing.com

Adagio Therapeutics Resumes Slide After Jefferies Downgrade By Investing.com – Investing.com

By Sam Boughedda

Investing.com —  Adagio Therapeutics Inc (NASDAQ:) shares declined 13% Wednesday, resuming a recent slide, after analysts at Jefferies downgraded the stock following uncertainty over its Covid-19 drug ADG20, reversing bullish comments they made last week.

Earlier this month, Adagio reported that following analysis of ADG20 against the new Omicron variant, data showed a more than 300-fold reduction in neutralizing activity, resulting in a series of downgrades by analysts and Adagio's share price falling just under 79%.