Piper Sandler downgraded Gracell Biotechnologies (GRCL) to Neutral from Overweight with a price target of $10, up from $9, after Gracell 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 for up to $1.50 per ADS representing a total transaction value of up to $1.2B.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on GRCL:
- M & A News: Bristol-Myers Squibb (NYSE:BMY) to Buy RayzeBio for $4.1B
- M & A News: AstraZeneca (NASDAQ:AZN) to Acquire Gracell for $1.2B
- Gracell Biotechnologies to be acquired by AstraZeneca, furthering cell therapy ambition across oncology and autoimmune diseases
- Gracell Biotechnologies Announces China NMPA Clearance for IND Application for Phase 1/2 Clinical Trial of FasTCAR-T GC012F for the Treatment of Refractory Systemic Lupus Erythematosus
- Gracell announces China NMPA clearance of IND application for trial of GC012F
