(NASDAQ:ANGN) ANGION BIOMEDICA CORP, rallied at the end of the day today for a 18% gain in news of the annual shareholders meeting and recent H.C. Wainwright “Buy” rating of up to $32.00

May 4, 2022

HC Wainwright has removed Angion Biomedica Corp’s (NASDAQ:ANGN) former lead candidate, ANG-3777, in acute kidney injury (AKI), from its valuation assessment. The analyst has reduced the price target from $50 to $32, with a Buy rating.

In the Q4 earnings release, the Company decided to discontinue the development of ANG-3777 after disappointing data.

The analyst believes that the Company is better positioned than the market appears to think, particularly in light of the Company’s currently negative enterprise value of $(32.56) million, as per Benzinga Pro.

It possesses an extensive pipeline of assets beyond ANG-3777, which the market does not appear to be taking into consideration, analysts note.

Editor has purchased shares in this company.

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