Gracell Biotechnologies (NASDAQ:GRCL) Reaches New 52-Week High at $10.36

Gracell Biotechnologies Inc. (NASDAQ:GRCLGet Free Report)’s share price reached a new 52-week high on Friday . The company traded as high as $10.36 and last traded at $10.36, with a volume of 762531 shares trading hands. The stock had previously closed at $10.23.

Wall Street Analyst Weigh In

Several brokerages have weighed in on GRCL. BTIG Research restated a “neutral” rating on shares of Gracell Biotechnologies in a research report on Tuesday, December 26th. HC Wainwright downgraded shares of Gracell Biotechnologies from a “buy” rating to a “neutral” rating and reduced their price target for the company from $13.00 to $10.00 in a report on Tuesday, December 26th. Stifel Nicolaus initiated coverage on shares of Gracell Biotechnologies in a report on Thursday, October 19th. They issued a “buy” rating and a $11.00 price target on the stock. Wells Fargo & Company reiterated an “equal weight” rating and issued a $10.00 target price on shares of Gracell Biotechnologies in a research note on Wednesday, December 27th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Gracell Biotechnologies in a research note on Wednesday, November 15th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Gracell Biotechnologies presently has a consensus rating of “Moderate Buy” and an average price target of $13.14.

Read Our Latest Stock Analysis on Gracell Biotechnologies

Gracell Biotechnologies Trading Up 1.4 %

The business has a 50 day simple moving average of $8.53 and a 200-day simple moving average of $5.28. The company has a quick ratio of 7.73, a current ratio of 7.73 and a debt-to-equity ratio of 0.02.

Gracell Biotechnologies (NASDAQ:GRCLGet Free Report) last released its quarterly earnings data on Monday, November 13th. The company reported ($0.10) EPS for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.16. Sell-side analysts expect that Gracell Biotechnologies Inc. will post -0.92 earnings per share for the current year.

Hedge Funds Weigh In On Gracell Biotechnologies

A number of large investors have recently modified their holdings of GRCL. BlackRock Inc. raised its holdings in shares of Gracell Biotechnologies by 18.6% in the 1st quarter. BlackRock Inc. now owns 924,631 shares of the company’s stock worth $2,154,000 after purchasing an additional 144,940 shares during the period. Renaissance Technologies LLC acquired a new stake in shares of Gracell Biotechnologies in the first quarter valued at about $55,000. Invesco Ltd. grew its stake in shares of Gracell Biotechnologies by 87.9% in the first quarter. Invesco Ltd. now owns 74,112 shares of the company’s stock valued at $173,000 after buying an additional 34,679 shares in the last quarter. Vident Investment Advisory LLC grew its stake in shares of Gracell Biotechnologies by 58.0% in the first quarter. Vident Investment Advisory LLC now owns 19,961 shares of the company’s stock valued at $47,000 after buying an additional 7,331 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in shares of Gracell Biotechnologies by 482.7% in the first quarter. Goldman Sachs Group Inc. now owns 104,419 shares of the company’s stock valued at $243,000 after buying an additional 86,500 shares in the last quarter.

About Gracell Biotechnologies

(Get Free Report)

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 phase 1 clinical trial for the treatment of relapsed or refractory (r/r) B cell acute lymphoblastic leukemia (B-ALL) in adult; 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.

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