Gracell Biotechnologies (NASDAQ:GRCL) Research Coverage Started at Citigroup

Citigroup assumed coverage on shares of Gracell Biotechnologies (NASDAQ:GRCLGet Rating) in a research note released on Thursday, Marketbeat reports. The brokerage issued a buy rating and a $12.00 price target on the stock.

Several other equities analysts have also issued reports on GRCL. Piper Sandler decreased their price objective on Gracell Biotechnologies from $25.00 to $10.00 in a research report on Friday, May 27th. Cantor Fitzgerald initiated coverage on Gracell Biotechnologies in a research report on Wednesday, June 1st. They issued an overweight rating and a $20.00 price objective for the company. Finally, Wells Fargo & Company reiterated an overweight rating on shares of Gracell Biotechnologies in a research report on Thursday, August 18th.

Gracell Biotechnologies Stock Performance

Shares of GRCL stock opened at $2.53 on Thursday. The company has a debt-to-equity ratio of 0.03, a current ratio of 8.01 and a quick ratio of 8.01. The stock has a market cap of $171.22 million, a PE ratio of -2.41 and a beta of -2.64. The stock has a 50-day moving average of $3.06 and a 200-day moving average of $3.10. Gracell Biotechnologies has a one year low of $1.68 and a one year high of $15.00.

Gracell Biotechnologies (NASDAQ:GRCLGet Rating) last issued its quarterly earnings data on Monday, August 15th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.24). During the same quarter last year, the business posted ($0.22) earnings per share. As a group, sell-side analysts expect that Gracell Biotechnologies will post -0.32 earnings per share for the current year.

Hedge Funds Weigh In On Gracell Biotechnologies

A number of large investors have recently bought and sold shares of the company. ExodusPoint Capital Management LP acquired a new position in Gracell Biotechnologies during the 2nd quarter worth approximately $481,000. Renaissance Technologies LLC raised its stake in shares of Gracell Biotechnologies by 111.4% during the 2nd quarter. Renaissance Technologies LLC now owns 49,900 shares of the company’s stock worth $274,000 after purchasing an additional 26,300 shares in the last quarter. Capital International Sarl raised its stake in shares of Gracell Biotechnologies by 3.9% during the 1st quarter. Capital International Sarl now owns 228,149 shares of the company’s stock worth $532,000 after purchasing an additional 8,508 shares in the last quarter. Capital Group International Inc. CA raised its stake in shares of Gracell Biotechnologies by 33.4% during the 1st quarter. Capital Group International Inc. CA now owns 2,335,476 shares of the company’s stock worth $5,442,000 after purchasing an additional 584,769 shares in the last quarter. Finally, Jane Street Group LLC bought a new stake in shares of Gracell Biotechnologies during the 1st quarter worth approximately $31,000. Institutional investors and hedge funds own 47.29% of the company’s stock.

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.

Further Reading

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