Brokerage firm UBS Downgrades its rating on Celyad SA (ADR)(NASDAQ:CYAD). The shares have been rated Neutral. Previously, the analysts had a Buy rating on the shares. The rating by UBS was issued on Jul 5, 2016.
Celyad SA formerly Cardio3 Biosciences SA is a Belgium-based drug developing company. The Company develops stem cell-based therapies for cardiovascular disease. The Company focuses on developing regenerative therapies to treat illnesses where cardiac tissue is lost due to chronic or acute injury. The Company’s product C-Cure allows the differentiation of a patient’s own cells into cardiopoeitic cells which grow into new heart cells and repair heart muscle. C-Cure consists of autologous adult stem cells guided in vitro to the cardiac lineage before implantation in the failing heart. Furthermore the Company is involved in the field of immuno-oncology through its subsidiary OnCyte.