Gracell Biotechnologies Inc. (NASDAQ:GRCL) Forecasted to Post FY2023 Earnings of ($0.28) Per Share

Gracell Biotechnologies Inc. (NASDAQ:GRCLGet Rating) – Equities research analysts at Cantor Fitzgerald issued their FY2023 earnings per share (EPS) estimates for Gracell Biotechnologies in a research note issued on Monday, June 6th. Cantor Fitzgerald analyst L. Chen expects that the company will earn ($0.28) per share for the year. Cantor Fitzgerald currently has a “Overweight” rating and a $20.00 target price on the stock.

GRCL has been the subject of several other research reports. Piper Sandler lowered their target price on shares of Gracell Biotechnologies from $25.00 to $10.00 in a research note on Friday, May 27th. Zacks Investment Research lowered shares of Gracell Biotechnologies from a “buy” rating to a “hold” rating in a research note on Tuesday, May 17th. Finally, BTIG Research initiated coverage on shares of Gracell Biotechnologies in a research note on Monday, April 4th. They set a “buy” rating and a $18.00 target price for the company.

Shares of GRCL stock opened at $3.31 on Thursday. The company has a quick ratio of 9.41, a current ratio of 9.41 and a debt-to-equity ratio of 0.03. The company has a 50-day moving average of $2.67 and a two-hundred day moving average of $3.84. Gracell Biotechnologies has a 1-year low of $1.68 and a 1-year high of $15.08.

Gracell Biotechnologies (NASDAQ:GRCLGet Rating) last released its quarterly earnings data on Monday, May 16th. The company reported ($0.35) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($0.14). During the same period in the previous year, the business posted ($0.25) EPS.

Several hedge funds and other institutional investors have recently bought and sold shares of GRCL. JPMorgan Chase & Co. lifted its stake in Gracell Biotechnologies by 5,346.9% in the fourth quarter. JPMorgan Chase & Co. now owns 4,412 shares of the company’s stock worth $27,000 after acquiring an additional 4,331 shares during the last quarter. Jane Street Group LLC purchased a new position in Gracell Biotechnologies in the first quarter worth approximately $31,000. Citigroup Inc. lifted its stake in Gracell Biotechnologies by 562.0% in the fourth quarter. Citigroup Inc. now owns 6,474 shares of the company’s stock worth $39,000 after acquiring an additional 5,496 shares during the last quarter. Vident Investment Advisory LLC lifted its stake in Gracell Biotechnologies by 58.0% in the first quarter. Vident Investment Advisory LLC now owns 19,961 shares of the company’s stock worth $47,000 after acquiring an additional 7,331 shares during the last quarter. Finally, Renaissance Technologies LLC purchased a new position in Gracell Biotechnologies in the first quarter worth approximately $55,000.

About Gracell Biotechnologies (Get Rating)

Gracell Biotechnologies Inc, a clinical-stage biopharmaceutical company, primarily discovers and develops cell therapies for the treatment of cancer in the People's Republic of China. Its lead product candidates include GC012F, a FasTCAR-enabled dual BCMA- and CD19-directed autologous CAR-T product candidate that is in Phase I trial for the treatment of multiple myeloma; GC019F, a FasTCAR-enabled CD19-directed autologous CAR-T product candidate, which is in Phase I clinical trial for the treatment of adult B cell acute lymphoblastic leukemia (B-ALL), as well as in preclinical stage for the treatment of relapsed or refractory (r/r) B cell non-Hodgkin's lymphoma (B-NHL); and GC027, a TruUCAR-enabled CD7-directed allogeneic CAR-T product candidate, which is in Phase I clinical trial for the treatment of adult T cell acute lymphoblastic leukemia.

See Also

Earnings History and Estimates for Gracell Biotechnologies (NASDAQ:GRCL)

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