Cantor Fitzgerald Reiterates “Overweight” Rating for Gracell Biotechnologies (NASDAQ:GRCL)

Gracell Biotechnologies (NASDAQ:GRCL)‘s stock had its “overweight” rating reaffirmed by Cantor Fitzgerald in a research note issued to investors on Wednesday, Benzinga reports. They currently have a $20.00 price objective on the stock.

Several other research analysts have also commented on the company. Citigroup reduced their price target on Gracell Biotechnologies from $12.00 to $11.00 and set a “buy” rating for the company in a research report on Tuesday. BTIG Research boosted their price target on Gracell Biotechnologies from $18.00 to $20.00 in a research report on Monday, June 12th. Finally, HC Wainwright boosted their price target on Gracell Biotechnologies from $12.00 to $13.00 and gave the stock a “buy” rating in a research report on Monday, August 14th.

Gracell Biotechnologies Price Performance

Shares of GRCL stock opened at $3.28 on Wednesday. Gracell Biotechnologies has a twelve month low of $1.40 and a twelve month high of $6.99. The stock has a market capitalization of $223.47 million, a price-to-earnings ratio of -2.50 and a beta of -1.43. The stock has a fifty day simple moving average of $3.89 and a two-hundred day simple moving average of $2.95. The company has a current ratio of 6.44, a quick ratio of 6.26 and a debt-to-equity ratio of 0.04.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in GRCL. Sphera Funds Management LTD. acquired a new position in Gracell Biotechnologies during the 1st quarter valued at about $4,391,000. EcoR1 Capital LLC increased its position in Gracell Biotechnologies by 74.0% during the 4th quarter. EcoR1 Capital LLC now owns 3,343,202 shares of the company’s stock valued at $7,689,000 after buying an additional 1,421,892 shares in the last quarter. Great Point Partners LLC increased its position in Gracell Biotechnologies by 60.7% during the 1st quarter. Great Point Partners LLC now owns 3,153,206 shares of the company’s stock valued at $5,865,000 after buying an additional 1,190,807 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in Gracell Biotechnologies during the 2nd quarter valued at about $3,810,000. Finally, Capital Group International Inc. CA increased its position 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 valued at $5,442,000 after buying an additional 584,769 shares in the last quarter.

Gracell Biotechnologies Company Profile

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.