Jefferies analyst Kelly Shi downgraded TCR2 Therapeutics (TCRR) to Hold from Buy with a price target of $3, down from $18, after the company reached a definitive merger agreement under which Adaptimmune (ADAP). The all-stock transaction will create a new cell therapy company for solid tumors with TCR2 comprising 25% of the joint company, the analyst tells investors in a research note.
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Published first on TheFly
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Read More on TCRR:
- TCR2 Therapeutics downgraded to Hold from Buy at Truist
- TCR2 Therapeutics downgraded to Neutral from Buy at H.C. Wainwright
- Adaptimmune downgraded to Hold from Buy at JonesResearch
- Adaptimmune Craters after Acquiring TCRR
- Adaptimmune and TCR² Therapeutics Announce Strategic Combination to Create a Preeminent Cell Therapy Company for Solid Tumors