FY2023 Earnings Estimate for Gracell Biotechnologies Inc. (NASDAQ:GRCL) Issued By Cantor Fitzgerald

Gracell Biotechnologies Inc. (NASDAQ:GRCL – Get Rating) – Analysts at Cantor Fitzgerald raised their FY2023 earnings per share (EPS) estimates for shares of Gracell Biotechnologies in a research note issued on Tuesday, March 14th. Cantor Fitzgerald analyst L. Chen now expects that the company will post earnings per share of ($1.40) for the year, up from their previous forecast of ($1.45). The consensus estimate for Gracell Biotechnologies’ current full-year earnings is ($1.48) per share.

Separately, HC Wainwright reissued a “buy” rating and set a $12.00 price target on shares of Gracell Biotechnologies in a research note on Thursday, February 16th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, Gracell Biotechnologies has an average rating of “Buy” and a consensus price target of $14.40.

Gracell Biotechnologies Stock Up 6.0 %

NASDAQ:GRCL opened at $2.12 on Friday. Gracell Biotechnologies has a 1 year low of $1.68 and a 1 year high of $5.69. The company has a quick ratio of 6.77, a current ratio of 6.78 and a debt-to-equity ratio of 0.03. The business has a 50 day simple moving average of $2.11 and a 200-day simple moving average of $2.60.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. ExodusPoint Capital Management LP purchased a new position in Gracell Biotechnologies during the 2nd quarter worth $481,000. Renaissance Technologies LLC raised its holdings in Gracell Biotechnologies by 111.4% in the 2nd quarter. Renaissance Technologies LLC now owns 49,900 shares of the company’s stock worth $274,000 after purchasing an additional 26,300 shares during the period. Goldman Sachs Group Inc. increased its stake in Gracell Biotechnologies by 482.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 104,419 shares of the company’s stock worth $243,000 after buying an additional 86,500 shares in the last quarter. Ensign Peak Advisors Inc purchased a new stake in Gracell Biotechnologies during the 1st quarter worth approximately $235,000. Finally, Barclays PLC increased its stake in Gracell Biotechnologies by 122.3% during the 4th quarter. Barclays PLC now owns 86,109 shares of the company’s stock worth $198,000 after buying an additional 47,379 shares in the last quarter. 45.10% of the stock is currently owned by hedge funds and other institutional investors.

Gracell Biotechnologies Company Profile

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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.