Top 5 Stocks Activist Investors Are Targeting

4. Gracell Biotechnologies Inc (NASDAQ:GRCL)

Healthcare-focused investor Samuel Isaly’s Orbimed Advisors has recently boosted its stake in Gracell Biotechnologies Inc (NASDAQ:GRCL) by 27% to 7.58 million shares. The holding gives Orbimed ownership of 11.2% of the company’s outstanding stock. The increase in the bullish sentiment comes after in February Gracell Biotechnologies Inc (NASDAQ:GRCL), a clinical-stage company engaged in developing cell therapies for the treatment of cancer, announced that the US Food & Drug Administration approved its Investigational New Drug Application of its CAR-T therapeutic candidate for the treatment of relapsed multiple myeloma. The company added that the approval allows it to proceed with Phase 1b/2 clinical trial, which is expected to commence in the second quarter of 2023.

In its last quarterly results, Gracell Biotechnologies Inc (NASDAQ:GRCL) posted a net loss of $0.06 per share, beating the estimates. The company also said it had more than $210 million in cash, cash equivalents and short-term investments at the end of 2022.

There were just eight funds tracked by Insider Monkey long Gracell Biotechnologies Inc (NASDAQ:GRCL) at the end of the last year, unchanged over the quarter.