Gracell Biotechnologies Inc. (NASDAQ:GRCL) was up 6.3% during mid-day trading on Wednesday . The stock traded as high as $14.28 and last traded at $14.28. Approximately 2,173 shares changed hands during mid-day trading, a decline of 98% from the average daily volume of 139,808 shares. The stock had previously closed at $13.43.
Separately, Zacks Investment Research upgraded shares of Gracell Biotechnologies from a “sell” rating to a “hold” rating in a research note on Tuesday, May 4th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Gracell Biotechnologies has an average rating of “Buy” and an average target price of $34.50.
The company’s fifty day moving average price is $13.42. The company has a current ratio of 18.38, a quick ratio of 18.38 and a debt-to-equity ratio of 0.02.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. New Silk Road Investment PTE Ltd. purchased a new position in Gracell Biotechnologies during the first quarter worth about $770,000. Cormorant Asset Management LP purchased a new position in Gracell Biotechnologies during the first quarter worth about $1,925,000. Nomura Holdings Inc. purchased a new position in Gracell Biotechnologies during the first quarter worth about $636,000. Vivo Capital LLC purchased a new position in Gracell Biotechnologies during the first quarter worth about $23,454,000. Finally, Viking Global Investors LP purchased a new position in Gracell Biotechnologies during the first quarter worth about $20,714,000. 30.94% of the stock is owned by hedge funds and other institutional investors.
Gracell Biotechnologies Company Profile (NASDAQ:GRCL)
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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