Streetbeat News

GRCL

Gracell Biotechnologies Inc

Employees

Industry

Pharmaceutical Preparation Manufacturing

gracell biotechnologies inc. is a global clinical-stage biopharmaceutical company dedicated to discovering and developing breakthrough cell therapies. leveraging its pioneering fastcar and truucar technology platforms, gracell is developing a rich clinical-stage pipeline of multiple autologous and allogeneic product candidates with the potential to overcome major industry challenges that persist with conventional car-t therapies, including lengthy manufacturing time, suboptimal production quality, high therapy cost and lack of effective car-t therapies for solid tumors.

Open

10.26

Mkt cap

990M

Volume

6.4M

High

10.28

P/E Ratio

-10.57

52-wk high

10.44

Low

10.17

Div yield

N/A

52-wk low

1.40

Stifel analyst Benjamin Burnett downgraded Gracell Biotechnologies (GRCL) from Buy to Hold and reduced the price target from $11 to $10.25.

Portfolio Pulse from Benzinga Newsdesk

February 22, 2024 | 2:31 pm

Gracell Biotechnologies Inc. (NASDAQ:GRCL) shareholders approved the merger with AstraZeneca Treasury Limited, making Gracell a wholly owned subsidiary of AstraZeneca. The approval came during an extraordinary general meeting with a 94.8% attendance of total outstanding shares, and 99.9% of votes cast in favor. The merger is part of a previously announced agreement aimed at enhancing Gracell's capabilities in developing cell therapies for cancer and autoimmune diseases.

Portfolio Pulse from Benzinga Newsdesk

February 20, 2024 | 12:55 pm

Gracell Biotechnologies has received FDA clearance for its Investigational New Drug (IND) application, allowing it to proceed with a Phase 1 trial in the U.S. for GC012F, a treatment for early-line multiple myeloma.

Portfolio Pulse from Benzinga Newsdesk

January 29, 2024 | 12:04 pm

The FDA is issuing a classwide black box warning for all approved CAR-T therapies due to the risk of secondary T-cell cancers. This affects products from Bristol Myers Squibb (BMY), Gilead Sciences' Kite Pharma (GILD), Johnson & Johnson (JNJ), Novartis (NVS), and Legend Biotech Corporation (LEGN). The warning will be included on the labels of six commercial CAR-T therapies. Despite this, the FDA maintains that the benefits of these products outweigh the risks. AstraZeneca (AZN) recently acquired Gracell Biotechnologies (GRCL) to enhance its cell therapy portfolio.

Portfolio Pulse from Vandana Singh

January 23, 2024 | 1:19 pm

AstraZeneca (NASDAQ:AZN) is set to acquire Gracell Biotechnologies Inc. (NASDAQ:GRCL) for up to $1.2 billion, an 86% premium over its pre-announcement share price. The deal offers hope for cash-strapped Chinese biotechs, as Gracell's shares surged 60.3% post-announcement. Gracell, which focuses on CAR-T cell therapy for cancer treatment, has been operating at a loss with its most advanced product still in phase 1 trials. The acquisition by AstraZeneca will bolster its cell therapy capabilities, taking over Gracell's technology and trials. However, the sector faces uncertainty due to an FDA investigation into potential risks associated with CAR-T therapies.

Portfolio Pulse from The Bamboo Works

January 05, 2024 | 3:26 pm

Wells Fargo analyst Yanan Zhu has downgraded Gracell Biotechnologies (GRCL) from Overweight to Equal-Weight and set a price target of $10. The downgrade reflects a change in the bank's view on the stock's future performance.

Portfolio Pulse from Benzinga Newsdesk

December 27, 2023 | 5:27 pm

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.

Portfolio Pulse from Benzinga Newsdesk

December 27, 2023 | 9:31 am

U.S. stocks closed higher with the Dow Jones rising over 150 points and the S&P 500 nearing record levels. Investor sentiment improved as indicated by the CNN Money Fear and Greed index remaining in 'Extreme Greed' territory. RayzeBio shares soared after a buyout announcement by Bristol Myers Squibb, and Gracell Biotechnologies shares surged following an acquisition agreement with AstraZeneca. All sectors of the S&P 500 ended positively, led by energy, real estate, and industrials. Investors are looking forward to Bridgeline Digital's earnings results.

Portfolio Pulse from Avi Kapoor

December 27, 2023 | 8:28 am

RayzeBio, Inc. (RYZB) shares surged 100% after announcing its acquisition by Bristol Myers Squibb for $62.50 per share in cash, valuing the deal at $4.1 billion. Other stocks also moved significantly in Tuesday's mid-day session, with ARB IOT Group Limited (ARBB) and IMAC Holdings, Inc. (BACK) among the top gainers, while PARTS iD, Inc. (ID) and Milestone Pharmaceuticals Inc. (MIST) were among the top losers.

Portfolio Pulse from Avi Kapoor

December 26, 2023 | 6:48 pm

In Tuesday's intraday session, several healthcare stocks experienced significant movements. RayzeBio (RYZB) saw a 100.8% increase to $61.4 with a market cap of $3.6 billion. IMAC Hldgs (BACK) rose 74.02% to $4.21, and Gracell Biotechnologies (GRCL) went up by 59.93% to $9.9. Conversely, Milestone Pharmaceuticals (MIST) dropped 32.3% to $1.95, ENDRA Life Sciences (NDRA) fell 22.01% to $1.95, and Jin Medical International (ZJYL) declined by 18.51% to $111.67.

Portfolio Pulse from Benzinga Insights

December 26, 2023 | 5:31 pm

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