Piper Sandler Downgrades Gracell Biotechnologies to Neutral, Announces $10 Price Target
Portfolio Pulse from Benzinga Newsdesk
Piper Sandler analyst Joseph Catanzaro has downgraded Gracell Biotechnologies (GRCL) from Overweight to Neutral and set a price target of $10. The downgrade reflects a more cautious stance on the company's stock.
December 27, 2023 | 9:31 am
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Gracell Biotechnologies was downgraded by Piper Sandler from Overweight to Neutral with a new price target of $10.
Downgrades by analysts can lead to a negative perception among investors, potentially causing a short-term decline in the stock price. The new price target of $10 suggests a limited upside potential or a downside risk, depending on the stock's current trading price.
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