Fintel reports that Orbimed Advisors has filed a 13D form with the SEC disclosing ownership of 7.58MM shares of Gracell Biotechnologies Inc. (GRCL). This represents 11.2% of the company.

In their previous filing dated February 14, 2023 they reported 5.97MM shares and 8.80% of the company, an increase in shares of 27.01% and an increase in total ownership of 2.40% (calculated as current – previous percent ownership).

Analyst Price Forecast Suggests 596.89% Upside

As of March 30, 2023, the average one-year price target for Gracell Biotechnologies is $12.82. The forecasts range from a low of $7.07 to a high of $21.00. The average price target represents an increase of 596.89% from its latest reported closing price of $1.84.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Gracell Biotechnologies is $0MM, a decrease of ?%. The projected annual non-GAAP EPS is -$0.59.

What is the Fund Sentiment?

There are 52 funds or institutions reporting positions in Gracell Biotechnologies. This is a decrease of 1 owner(s) or 1.89% in the last quarter. Average portfolio weight of all funds dedicated to GRCL is 0.11%, an increase of 29.14%. Total shares owned by institutions decreased in the last three months by 0.29% to 31,832K shares.

What are Large Shareholders Doing?

Temasek Holdings holds 9,902K shares representing 14.63% ownership of the company. No change in the last quarter.

EcoR1 Capital holds 3,343K shares representing 4.94% ownership of the company. In it’s prior filing, the firm reported owning 1,921K shares, representing an increase of 42.53%. The firm increased its portfolio allocation in GRCL by 28.16% over the last quarter.

Capital International holds 2,943K shares representing 4.35% ownership of the company. In it’s prior filing, the firm reported owning 3,016K shares, representing a decrease of 2.50%. The firm decreased its portfolio allocation in GRCL by 32.66% over the last quarter.

Great Point Partners holds 1,962K shares representing 2.90% ownership of the company. In it’s prior filing, the firm reported owning 449K shares, representing an increase of 77.12%. The firm increased its portfolio allocation in GRCL by 154.09% over the last quarter.

EMRGX – EMERGING MARKETS GROWTH FUND INC Class M holds 1,336K shares representing 1.97% ownership of the company. In it’s prior filing, the firm reported owning 1,368K shares, representing a decrease of 2.36%. The firm decreased its portfolio allocation in GRCL by 36.27% over the last quarter.

This article originally appeared on Fintel

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