Zimmer Partners LP acquired a new position in Gracell Biotechnologies Inc. (NASDAQ:GRCL) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 70,000 shares of the company’s stock, valued at approximately $1,078,000. Zimmer Partners LP owned approximately 0.10% of Gracell Biotechnologies at the end of the most recent quarter.
A number of other large investors have also modified their holdings of the stock. Orbimed Advisors LLC bought a new stake in Gracell Biotechnologies in the first quarter worth $121,427,000. Vivo Capital LLC bought a new stake in Gracell Biotechnologies in the first quarter worth $23,454,000. Viking Global Investors LP bought a new stake in Gracell Biotechnologies in the first quarter worth $20,714,000. Federated Hermes Inc. bought a new stake in Gracell Biotechnologies in the first quarter worth $18,340,000. Finally, Capital International Investors bought a new stake in Gracell Biotechnologies in the first quarter worth $17,287,000. Hedge funds and other institutional investors own 30.94% of the company’s stock.
Separately, Zacks Investment Research cut shares of Gracell Biotechnologies from a “buy” rating to a “hold” rating in a report on Monday. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Gracell Biotechnologies presently has an average rating of “Buy” and an average target price of $30.20.
Gracell Biotechnologies (NASDAQ:GRCL) last released its earnings results on Sunday, May 16th. The company reported ($0.25) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.21) by ($0.04). Equities analysts anticipate that Gracell Biotechnologies Inc. will post -0.25 EPS for the current fiscal year.
Gracell Biotechnologies 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 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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