Grifols (NASDAQ:GRFS) Shares Gap Up – Here’s What Happened

Grifols, S.A. (NASDAQ:GRFS) shares gapped up before the market opened on Wednesday . The stock had previously closed at $6.96, but opened at $7.22. Grifols shares last traded at $7.15, with a volume of 437,796 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Morgan Stanley initiated coverage on shares of Grifols in a research report on Wednesday, February 12th. They issued an “overweight” rating for the company.

Grifols Stock Up 3.4 %

The company has a debt-to-equity ratio of 1.11, a current ratio of 2.26 and a quick ratio of 0.79. The business has a 50 day simple moving average of $7.55 and a 200 day simple moving average of $8.01. The stock has a market cap of $4.95 billion, a PE ratio of 6.16 and a beta of 0.35.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Soleus Capital Management L.P. boosted its holdings in Grifols by 46.1% in the fourth quarter. Soleus Capital Management L.P. now owns 6,605,425 shares of the biotechnology company’s stock worth $49,144,000 after purchasing an additional 2,083,722 shares in the last quarter. Norges Bank acquired a new stake in shares of Grifols in the fourth quarter worth about $14,434,000. Whitebox Advisors LLC boosted its stake in shares of Grifols by 56.2% during the 3rd quarter. Whitebox Advisors LLC now owns 4,221,483 shares of the biotechnology company’s stock worth $37,487,000 after acquiring an additional 1,519,093 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Grifols by 144.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,002,511 shares of the biotechnology company’s stock valued at $17,782,000 after acquiring an additional 1,181,959 shares during the last quarter. Finally, Credit Industriel ET Commercial bought a new position in shares of Grifols in the 4th quarter valued at approximately $4,537,000.

Grifols Company Profile

Grifols, SA operates as a plasma therapeutic company in Spain, the United States, Canada, and internationally. The company provides immunoglobulin to treat immunodeficiencies; albumin used to restore circulatory volume and protein loss in pathophysiological conditions, such as liver cirrhosis, cardiocirculatory failure, trauma and severe burns; alpha-1 proteinase inhibitor, a plasma protein, used to treat a genetic disease known as alpha-1; factorVIII/von Willerbrand factor and factor IX, clotting factors for the treatment of hemophilia A and von Willebrand’s disease, as well as hemophilia B; antithrombin III to treat hereditary antithrombin deficiency; Fostamatinib, a spleen tyrosine kinase inhibitor; combination of fibrinogen and enzyme thrombin that acts as a biological sealant to control surgical bleeding; and plasma exchange with albumin used to treat Alzheimer’s disease.