TCR2 Therapeutics downgraded to Neutral from Buy at H.C. Wainwright

H.C. Wainwright analyst Robert Burns downgraded TCR2 Therapeutics (TCRR) to Neutral from Buy without a price target after the company entered into a definitive merger agreement under which Adaptimmune (ADAP). The all-stock deal values TCR2 at a "hefty discount" to its most recently reported cash position, the analyst tells investors in a research note.