Grifols (NASDAQ:GRFS) Sees Strong Trading Volume – Here’s Why

Shares of Grifols, S.A. (NASDAQ:GRFS) saw unusually-strong trading volume on Thursday . Approximately 1,622,142 shares were traded during mid-day trading, an increase of 102% from the previous session’s volume of 804,488 shares.The stock last traded at $8.41 and had previously closed at $7.94.

Analysts Set New Price Targets

Separately, Morgan Stanley assumed coverage on Grifols in a research report on Wednesday, February 12th. They issued an “overweight” rating on the stock.

Grifols Trading Up 4.5 %

The stock has a market cap of $5.70 billion, a P/E ratio of 7.09 and a beta of 0.40. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.79 and a current ratio of 2.26. The firm’s fifty day simple moving average is $7.37 and its 200-day simple moving average is $8.09.

Hedge Funds Weigh In On Grifols

Hedge funds have recently bought and sold shares of the company. JPMorgan Chase & Co. grew its holdings in Grifols by 144.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,002,511 shares of the biotechnology company’s stock worth $17,782,000 after acquiring an additional 1,181,959 shares during the period. Helikon Investments Ltd acquired a new stake in Grifols during the fourth quarter worth approximately $580,000. Stifel Financial Corp bought a new stake in Grifols in the third quarter worth approximately $1,043,000. GAMMA Investing LLC boosted its holdings in shares of Grifols by 44.5% during the 4th quarter. GAMMA Investing LLC now owns 4,959 shares of the biotechnology company’s stock worth $37,000 after buying an additional 1,527 shares in the last quarter. Finally, Jane Street Group LLC acquired a new stake in shares of Grifols during the 3rd quarter worth approximately $363,000.

About Grifols

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.