Grifols (NASDAQ:GRFS) Trading Up 5.1% - Here's What Happened

Grifols, S.A. (NASDAQ:GRFS - Get Free Report)'s share price rose 5.1% during mid-day trading on Tuesday . The stock traded as high as $8.02 and last traded at $8.01. Approximately 514,452 shares changed hands during mid-day trading, a decline of 72% from the average daily volume of 1,834,552 shares. The stock had previously closed at $7.62.

Analysts Set New Price Targets

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

Grifols Price Performance

The company has a current ratio of 2.26, a quick ratio of 0.79 and a debt-to-equity ratio of 1.11. The stock has a 50 day simple moving average of $8.42 and a 200-day simple moving average of $8.11. The firm has a market cap of $5.53 billion, a PE ratio of 8.30 and a beta of 0.43.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Whitebox Advisors LLC raised its position in shares of Grifols by 56.2% during 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 last quarter. Brandes Investment Partners LP lifted its stake in Grifols by 8.7% in the 2nd quarter. Brandes Investment Partners LP now owns 18,596,790 shares of the biotechnology company's stock worth $117,242,000 after purchasing an additional 1,481,924 shares in the last quarter. Armistice Capital LLC lifted its stake in Grifols by 18.7% in the 2nd quarter. Armistice Capital LLC now owns 7,892,000 shares of the biotechnology company's stock worth $49,759,000 after purchasing an additional 1,244,000 shares in the last quarter. Highland Peak Capital LLC bought a new position in shares of Grifols during the 2nd quarter valued at about $5,991,000. Finally, Black Creek Investment Management Inc. grew its position in shares of Grifols by 7.7% during the second quarter. Black Creek Investment Management Inc. now owns 12,339,314 shares of the biotechnology company's stock valued at $77,799,000 after purchasing an additional 881,155 shares in the last quarter.

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.