HC Wainwright & Co. Downgrades Gracell Biotechnologies to Neutral, Lowers Price Target to $10
Portfolio Pulse from Benzinga Newsdesk
HC Wainwright & Co. analyst Emily Bodnar has downgraded Gracell Biotechnologies (GRCL) from Buy to Neutral and reduced the price target from $13 to $10.
December 26, 2023 | 3:29 pm
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NEGATIVE IMPACT
Gracell Biotechnologies was downgraded by HC Wainwright & Co. from Buy to Neutral, with a price target decrease from $13 to $10.
Downgrades by analysts can lead to a negative perception among investors, potentially causing a short-term decline in the stock price. The reduction in the price target further suggests a lowered expectation of the company's future performance.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100