Gracell Biotechnologies Inc. (NASDAQ:GRCL) Forecasted to Earn FY2022 Earnings of ($0.36) Per Share

Gracell Biotechnologies Inc. (NASDAQ:GRCL – Get Rating) – Equities research analysts at Jefferies Financial Group reduced their FY2022 earnings estimates for shares of Gracell Biotechnologies in a research note issued to investors on Monday, May 16th. Jefferies Financial Group analyst K. Shi now forecasts that the company will earn ($0.36) per share for the year, down from their previous forecast of ($0.35). Jefferies Financial Group also issued estimates for Gracell Biotechnologies’ FY2023 earnings at ($0.37) EPS, FY2024 earnings at ($0.47) EPS and FY2025 earnings at ($0.30) EPS.

Gracell Biotechnologies (NASDAQ:GRCL – Get Rating) last posted its earnings results on Monday, May 16th. The company reported ($0.35) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.14). During the same quarter last year, the business posted ($0.25) earnings per share.

A number of other brokerages also recently commented on GRCL. BTIG Research started coverage on Gracell Biotechnologies in a report on Monday, April 4th. They issued a “buy” rating and a $18.00 price target for the company. Piper Sandler reduced their price target on Gracell Biotechnologies from $40.00 to $25.00 in a report on Monday, March 14th. Finally, Zacks Investment Research downgraded Gracell Biotechnologies from a “buy” rating to a “hold” rating in a report on Tuesday.

GRCL stock opened at $3.39 on Thursday. The company has a current ratio of 12.15, a quick ratio of 12.15 and a debt-to-equity ratio of 0.03. Gracell Biotechnologies has a 1 year low of $1.68 and a 1 year high of $19.74. The stock has a 50-day simple moving average of $2.39 and a 200-day simple moving average of $4.65.

A number of large investors have recently added to or reduced their stakes in GRCL. Temasek Holdings Private Ltd lifted its holdings in shares of Gracell Biotechnologies by 3,662.7% in the 3rd quarter. Temasek Holdings Private Ltd now owns 9,901,940 shares of the company’s stock worth $137,340,000 after purchasing an additional 9,638,782 shares during the last quarter. Wellington Management Group LLP increased its position in Gracell Biotechnologies by 47.8% in the 3rd quarter. Wellington Management Group LLP now owns 4,960,157 shares of the company’s stock valued at $68,798,000 after acquiring an additional 1,604,942 shares during the period. Frazier Life Sciences Management L.P. acquired a new stake in Gracell Biotechnologies in the 1st quarter valued at approximately $8,029,000. Capital International Investors increased its position in Gracell Biotechnologies by 49.6% in the 4th quarter. Capital International Investors now owns 2,093,416 shares of the company’s stock valued at $12,644,000 after acquiring an additional 693,928 shares during the period. Finally, Frazier Management LLC raised its stake in shares of Gracell Biotechnologies by 94.3% in the 4th quarter. Frazier Management LLC now owns 1,654,938 shares of the company’s stock worth $9,996,000 after buying an additional 803,300 shares in the last quarter.

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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