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

Grifols, S.A. (NASDAQ:GRFS) gapped up before the market opened on Monday . The stock had previously closed at $7.33, but opened at $7.62. Grifols shares last traded at $7.63, with a volume of 237,353 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Berenberg Bank raised shares of Grifols to a “strong-buy” rating in a research report on Tuesday, October 29th.

Grifols Stock Performance

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 firm has a 50-day moving average of $8.46 and a two-hundred day moving average of $8.10.

Hedge Funds Weigh In On Grifols

Hedge funds and other institutional investors have recently modified their holdings of the company. Whitebox Advisors LLC raised its holdings in Grifols by 56.2% in the third quarter. Whitebox Advisors LLC now owns 4,221,483 shares of the biotechnology company’s stock valued at $37,487,000 after buying an additional 1,519,093 shares during the period. Brandes Investment Partners LP raised its stake in shares of Grifols by 8.7% in the 2nd quarter. Brandes Investment Partners LP now owns 18,596,790 shares of the biotechnology company’s stock valued at $117,242,000 after acquiring an additional 1,481,924 shares during the period. Armistice Capital LLC lifted its holdings in shares of Grifols by 18.7% during the 2nd quarter. Armistice Capital LLC now owns 7,892,000 shares of the biotechnology company’s stock valued at $49,759,000 after acquiring an additional 1,244,000 shares in the last quarter. Highland Peak Capital LLC acquired a new position in shares of Grifols during the second quarter worth about $5,991,000. Finally, Black Creek Investment Management Inc. boosted its position in shares of Grifols by 7.7% in the second quarter. Black Creek Investment Management Inc. now owns 12,339,314 shares of the biotechnology company’s stock worth $77,799,000 after buying an additional 881,155 shares during the period.

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.