Jefferies downgraded Gracell (GRCL) to Hold from Buy with a price target of $11.50, up from $11, after Gracell announced that it has entered into a definitive agreement to be acquired by AstraZeneca (AZN) for $10.00 per ADS in cash at closing, plus a non-tradable contingent value right, or CVR, for up to $1.50 per ADS representing a total transaction value of up to $1.2B.
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Read More on GRCL:
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- Gracell announces China NMPA clearance of IND application for trial of GC012F
