- The stock price of Gracell Biotechnologies (GRCL) increased by over 10% intraday today. This is why.
The stock price of Gracell Biotechnologies (GRCL) increased by over 10% intraday today.
Why: Bullish research report
Price target: $12
Rating: Buy/High Risk
Analyst: Citi analyst Yigal Nochomovitz
Nochomovitz adjusted the rating while noting that Gracell is a biotech company focused on developing CAR-T cell therapies. Gracell’s core innovation FasTCAR is a next-generation autologous CAR-T platform that enables next-day (22-36 hour) manufacturing compared to the industry standard of about 1-6 weeks.
“End-to-end, FasTCAR is projected to cut the autologous CAR-T vein-to-vein time from the industry average ~20-35 days to ~11-14 days. To date, Gracell has leveraged pre-IND investigator-initiated trials (IITs) in China to generate rapid proof-of-concept data for its portfolio of autologous and earlier-stage allogeneic CAR-T candidates,” wrote Nochomovitz in a recent research note. “With the stock trading at a negative EV despite having a de-risked lead asset in GC012F (BCMA/CD19 FasTCAR) and clinical data from five CAR-T programs, risk/reward looks highly attractive to us.”