Gracell Biotechnologies (NASDAQ:GRCL) Shares Down 1.8%

Gracell Biotechnologies Inc. (NASDAQ:GRCL – Get Rating) shares were down 1.8% during trading on Tuesday . The stock traded as low as $2.09 and last traded at $2.14. Approximately 153,041 shares traded hands during trading, a decline of 12% from the average daily volume of 174,776 shares. The stock had previously closed at $2.18.

Analyst Upgrades and Downgrades

Separately, HC Wainwright started coverage on Gracell Biotechnologies in a report on Thursday, December 8th. They set a “buy” rating and a $6.00 target price on the stock. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Gracell Biotechnologies presently has an average rating of “Buy” and an average target price of $13.20.

Gracell Biotechnologies Price Performance

The company has a market capitalization of $144.85 million, a price-to-earnings ratio of -1.59 and a beta of -1.94. The company has a debt-to-equity ratio of 0.03, a quick ratio of 6.77 and a current ratio of 6.77. The business has a 50 day moving average price of $2.62 and a 200-day moving average price of $2.97.

Gracell Biotechnologies (NASDAQ:GRCL – Get Rating) last announced its quarterly earnings data on Monday, November 14th. The company reported ($0.36) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.27). Research analysts predict that Gracell Biotechnologies Inc. will post -1.46 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Capital Group International Inc. CA raised its stake in 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 buying an additional 584,769 shares during the period. BlackRock Inc. raised its stake in Gracell Biotechnologies by 18.6% during the 1st quarter. BlackRock Inc. now owns 924,631 shares of the company’s stock worth $2,154,000 after buying an additional 144,940 shares during the period. Ensign Peak Advisors Inc acquired a new position in Gracell Biotechnologies during the 1st quarter worth approximately $235,000. ExodusPoint Capital Management LP acquired a new position in Gracell Biotechnologies during the 2nd quarter worth approximately $481,000. Finally, Goldman Sachs Group Inc. raised its stake in Gracell Biotechnologies by 482.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 104,419 shares of the company’s stock worth $243,000 after buying an additional 86,500 shares during the period. 45.10% of the stock is owned by institutional investors and hedge funds.

Gracell Biotechnologies Company Profile

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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.