Grifols (NASDAQ:GRFS) Trading Down 2.7% – Here’s What Happened

Shares of Grifols, S.A. (NASDAQ:GRFS) traded down 2.7% during mid-day trading on Friday . The stock traded as low as $7.48 and last traded at $7.51. 203,161 shares changed hands during mid-day trading, a decline of 89% from the average session volume of 1,823,070 shares. The stock had previously closed at $7.72.

Analyst Upgrades and Downgrades

Separately, Berenberg Bank upgraded Grifols to a “strong-buy” rating in a research note on Tuesday, October 29th.

Grifols Stock Performance

The stock has a 50 day moving average of $8.37 and a 200 day moving average of $8.10. The company has a quick ratio of 0.79, a current ratio of 2.26 and a debt-to-equity ratio of 1.11. The firm has a market cap of $5.19 billion, a price-to-earnings ratio of 7.78 and a beta of 0.43.

Hedge Funds Weigh In On Grifols

Several hedge funds and other institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC increased its stake in Grifols by 49.4% in the third quarter. GAMMA Investing LLC now owns 3,432 shares of the biotechnology company’s stock valued at $30,000 after acquiring an additional 1,135 shares during the last quarter. Signaturefd LLC boosted its holdings in shares of Grifols by 66.2% in the 3rd quarter. Signaturefd LLC now owns 5,407 shares of the biotechnology company’s stock valued at $48,000 after purchasing an additional 2,153 shares in the last quarter. AQR Capital Management LLC acquired a new stake in shares of Grifols in the 2nd quarter valued at $89,000. HighTower Advisors LLC increased its stake in shares of Grifols by 12.5% in the 3rd quarter. HighTower Advisors LLC now owns 13,930 shares of the biotechnology company’s stock valued at $123,000 after purchasing an additional 1,546 shares during the last quarter. Finally, Tidal Investments LLC acquired a new position in shares of Grifols during the 3rd quarter worth $147,000.

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.