Freeline Therapeutics down as CEO changes amid management shakeup
16/08/2021 15:36
(Updates)
** Shares of gene therapy co FRLN.O down 5.4% to a record
low of $3.14
** Freeline Therapeutics names Michael Parini as its new
CEO, replacing Theresa Heggie who took the helm last year
urn:newsml:reuters.com:*:nGNX6wBtVt
** Earlier this year, FRLN named a new chief technical
operations officer and new chief scientific officer; its chief
financial officer and its chief medical officers have also
stepped down this year urn:newsml:reuters.com:*:nGNX8d1Q9B
** Mizuho cuts rating on stock to "neutral" from "buy" and
slashes its PT to $4 from $27, the lowest on Wall Street
** Continued management turnover and lack of major catalysts
moves us to the sidelines for now - Mizuho
** Parini has served as the co's president and chief
operating officer
** Including session losses, stock has fallen ~83% YTD
(Reporting by Rithika Krishna and Manas Mishra)
((Rithika.Krishna@thomsonreuters.com;))