H.C. Wainwright downgraded Gracell (GRCL) to Neutral from Buy with a $10 price target 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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