Gracell Biotechnologies (NASDAQ:GRCL) Releases Quarterly Earnings Results, Misses Expectations By $0.14 EPS

Gracell Biotechnologies (NASDAQ:GRCLGet Rating) issued its quarterly earnings results on Monday. The company reported ($0.35) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($0.14), Fidelity Earnings reports. During the same period in the prior year, the firm posted ($0.25) EPS.

GRCL opened at $3.43 on Tuesday. The company has a 50 day moving average of $2.37 and a 200 day moving average of $4.67. The company has a market cap of $237.56 million, a PE ratio of -4.13 and a beta of -1.27. Gracell Biotechnologies has a 12 month low of $1.68 and a 12 month high of $19.74. The company has a current ratio of 12.15, a quick ratio of 12.15 and a debt-to-equity ratio of 0.03.

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

GRCL has been the subject of several research analyst reports. Piper Sandler decreased their price target on shares of Gracell Biotechnologies from $40.00 to $25.00 in a research note on Monday, March 14th. BTIG Research started coverage on shares of Gracell Biotechnologies in a report on Monday, April 4th. They issued a “buy” rating and a $18.00 price objective for the company. Finally, Zacks Investment Research raised shares of Gracell Biotechnologies from a “hold” rating to a “buy” rating and set a $2.50 price objective for the company in a report on Thursday, March 17th.

Gracell Biotechnologies Company Profile (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.

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Earnings History for Gracell Biotechnologies (NASDAQ:GRCL)

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