Gracell Biotechnologies Stock Jumps 15%

Shares of Gracell Biotechnologies Inc. (GRCL) are gaining 15% on Tuesday morning. The Chinese clinical-stage biopharmaceutical company announced senior management team's share purchase plan.

GRCL is currently trading at $7.40, up $1.02 or 15.99%, on the Nasdaq, on a heavy volume of 15.3 million shares, above average volume of 146 thousand.. The stock has traded between $5.86 and $33.70 in the 52-week period.

Gracell Biotechnologies, a company dedicated to developing highly efficacious and affordable cell therapies for the treatment of cancer, announced that members of its senior management team, including its Chairman of Board and Chief Executive Officer Dr. William Cao, Chief Financial Officer Dr. Yili Kevin Xie and Chief Medical Officer Dr. Martina Sersch, have informed the company of their intention to use their personal funds to purchase the company's American depositary shares on the open market for an aggregate amount up to a maximum of $2 million within the next three months.

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