Cantor Fitzgerald Weighs in on Gracell Biotechnologies Inc.’s FY2024 Earnings (NASDAQ:GRCL)

Gracell Biotechnologies Inc. (NASDAQ:GRCL) – Research analysts at Cantor Fitzgerald issued their FY2024 earnings per share estimates for Gracell Biotechnologies in a note issued to investors on Wednesday, November 15th. Cantor Fitzgerald analyst J. Schimmer expects that the company will earn ($0.86) per share for the year. Cantor Fitzgerald has a “Overweight” rating on the stock. The consensus estimate for Gracell Biotechnologies’ current full-year earnings is ($1.03) per share.

Several other research firms have also weighed in on GRCL. Stifel Nicolaus began coverage on Gracell Biotechnologies in a report on Thursday, October 19th. They issued a “buy” rating and a $11.00 target price on the stock. HC Wainwright upped their target price on Gracell Biotechnologies from $12.00 to $13.00 and gave the company a “buy” rating in a report on Monday, August 14th. Finally, Citigroup lowered their target price on Gracell Biotechnologies from $12.00 to $11.00 and set a “buy” rating on the stock in a report on Tuesday, August 29th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $13.67.

Gracell Biotechnologies Stock Performance

NASDAQ:GRCL opened at $4.94 on Monday. The stock has a fifty day moving average price of $3.33 and a two-hundred day moving average price of $3.53. The stock has a market capitalization of $359.03 million, a price-to-earnings ratio of -4.70 and a beta of -1.32. The company has a debt-to-equity ratio of 0.04, a quick ratio of 6.26 and a current ratio of 6.44. Gracell Biotechnologies has a 1 year low of $1.40 and a 1 year high of $6.99.

Institutional Trading of Gracell Biotechnologies

A number of large investors have recently made changes to their positions in GRCL. Vivo Capital LLC boosted its stake in shares of Gracell Biotechnologies by 174.1% during the third quarter. Vivo Capital LLC now owns 10,881,144 shares of the company’s stock valued at $31,338,000 after acquiring an additional 6,911,717 shares during the last quarter. Sphera Funds Management LTD. acquired a new stake in shares of Gracell Biotechnologies during the first quarter valued at $4,391,000. Pivotal bioVenture Partners Investment Advisor LLC acquired a new stake in shares of Gracell Biotechnologies during the third quarter valued at $3,960,000. Great Point Partners LLC boosted its stake in shares of Gracell Biotechnologies by 60.7% during the first quarter. Great Point Partners LLC now owns 3,153,206 shares of the company’s stock valued at $5,865,000 after acquiring an additional 1,190,807 shares during the last quarter. Finally, Point72 Asset Management L.P. acquired a new stake in shares of Gracell Biotechnologies during the second quarter valued at $3,810,000.

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.