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.
Published first on TheFly
See the top stocks recommended by analysts >>
Read More on TCRR:
- 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
- Adaptimmune, TCR2 Therapeutics to combine in all-stock transaction
- TCR² Therapeutics to Present at SVB Securities Global Biopharma Conference 2023