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

Cantor Fitzgerald restated their overweight rating on shares of Gracell Biotechnologies (NASDAQ:GRCL) in a research report report published on Wednesday, PriceTargets.com reports.

Several other research firms also recently issued reports on GRCL. Stifel Nicolaus assumed coverage on Gracell Biotechnologies in a report on Thursday, October 19th. They set a buy rating and a $11.00 price objective on the stock. Citigroup cut their target price on Gracell Biotechnologies from $12.00 to $11.00 and set a buy rating on the stock in a research note on Tuesday, August 29th. Finally, HC Wainwright boosted their price objective on Gracell Biotechnologies from $12.00 to $13.00 and gave the stock a buy rating in a research note on Monday, August 14th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of Buy and an average target price of $13.67.

Gracell Biotechnologies Stock Performance

NASDAQ GRCL opened at $4.94 on Wednesday. The business’s 50-day moving average price is $3.30 and its 200 day moving average price is $3.49. Gracell Biotechnologies has a twelve month low of $1.40 and a twelve month high of $6.99. The company has a market capitalization of $359.04 million, a PE ratio of -4.70 and a beta of -1.32. 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 Investors Weigh In On Gracell Biotechnologies

Large investors have recently modified their holdings of the stock. Brainard Capital Management LLC bought a new position in Gracell Biotechnologies in the 1st quarter valued at $48,000. Wells Fargo & Company MN lifted its stake in shares of Gracell Biotechnologies by 125.7% in the 2nd quarter. Wells Fargo & Company MN now owns 10,209 shares of the company’s stock valued at $39,000 after purchasing an additional 5,685 shares during the period. Jane Street Group LLC acquired a new stake in Gracell Biotechnologies during the 1st quarter worth $31,000. Tower Research Capital LLC TRC raised its stake in Gracell Biotechnologies by 1,279.0% during the 3rd quarter. Tower Research Capital LLC TRC now owns 8,357 shares of the company’s stock worth $27,000 after buying an additional 7,751 shares during the period. Finally, Adage Capital Partners GP L.L.C. acquired a new stake in Gracell Biotechnologies during the 3rd quarter worth $2,448,000.

About Gracell Biotechnologies

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.