Brokers Offer Predictions for Gracell Biotechnologies Inc.’s Q2 2023 Earnings (NASDAQ:GRCL)

Posted by on May 19th, 2023

Gracell Biotechnologies Inc. (NASDAQ:GRCL – Get Rating) – Research analysts at HC Wainwright lowered their Q2 2023 EPS estimates for shares of Gracell Biotechnologies in a report released on Monday, May 15th. HC Wainwright analyst E. Bodnar now forecasts that the company will post earnings per share of ($0.41) for the quarter, down from their previous estimate of ($0.39). HC Wainwright currently has a “Buy” rating and a $12.00 target price on the stock. The consensus estimate for Gracell Biotechnologies’ current full-year earnings is ($1.52) per share. HC Wainwright also issued estimates for Gracell Biotechnologies’ Q3 2023 earnings at ($0.47) EPS, Q4 2023 earnings at ($0.50) EPS, FY2023 earnings at ($1.71) EPS, FY2024 earnings at ($1.44) EPS, FY2025 earnings at ($1.06) EPS, FY2026 earnings at ($0.71) EPS and FY2027 earnings at ($0.34) EPS.

Separately, Wells Fargo & Company reaffirmed an “overweight” rating and issued a $7.00 target price on shares of Gracell Biotechnologies in a research note on Monday, March 27th.

Gracell Biotechnologies Stock Down 1.4 %

Shares of NASDAQ GRCL opened at $2.17 on Thursday. The firm has a market capitalization of $146.91 million, a PE ratio of -1.63 and a beta of -1.82. The company has a current ratio of 6.78, a quick ratio of 6.78 and a debt-to-equity ratio of 0.03. Gracell Biotechnologies has a 1 year low of $1.40 and a 1 year high of $5.69. The firm’s 50-day moving average is $1.92 and its 200-day moving average is $2.34.

Gracell Biotechnologies (NASDAQ:GRCL – Get Rating) last issued its earnings results on Monday, March 13th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.43) by $0.13.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Barclays PLC boosted 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 acquiring an additional 47,379 shares during the last quarter. Invesco Ltd. raised its holdings in Gracell Biotechnologies by 87.9% during the 1st quarter. Invesco Ltd. now owns 74,112 shares of the company’s stock worth $173,000 after buying an additional 34,679 shares during the period. Balyasny Asset Management LLC acquired a new stake in Gracell Biotechnologies during the 3rd quarter worth approximately $79,000. Two Sigma Investments LP acquired a new stake in Gracell Biotechnologies during the 1st quarter worth approximately $60,000. Finally, Renaissance Technologies LLC acquired a new stake in Gracell Biotechnologies during the 1st quarter worth approximately $55,000. Institutional investors own 45.10% of the company’s stock.

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.

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Earnings History and Estimates for Gracell Biotechnologies (NASDAQ:GRCL)

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