Gritstone bio (NASDAQ:GRTS) Announces Quarterly Earnings Results

Gritstone bio (NASDAQ:GRTSGet Rating) issued its earnings results on Thursday. The company reported ($0.34) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.40) by $0.06, Fidelity Earnings reports. Gritstone bio had a negative return on equity of 56.52% and a negative net margin of 712.33%. During the same period last year, the company earned ($0.33) earnings per share.

Gritstone bio Trading Up 0.9 %

Shares of NASDAQ:GRTS traded up $0.03 during trading on Friday, reaching $3.43. 1,127,228 shares of the company traded hands, compared to its average volume of 1,421,952. The firm has a market capitalization of $249.75 million, a price-to-earnings ratio of -2.47 and a beta of 0.51. Gritstone bio has a 52-week low of $1.71 and a 52-week high of $14.42. The business’s fifty day moving average is $2.50 and its 200-day moving average is $3.49.

Institutional Trading of Gritstone bio

A number of institutional investors have recently made changes to their positions in GRTS. Graham Capital Management L.P. purchased a new stake in shares of Gritstone bio during the first quarter valued at approximately $855,000. BlackRock Inc. raised its holdings in shares of Gritstone bio by 2.7% during the first quarter. BlackRock Inc. now owns 3,893,393 shares of the company’s stock valued at $16,041,000 after acquiring an additional 101,960 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of Gritstone bio during the first quarter valued at approximately $205,000. XTX Topco Ltd bought a new position in shares of Gritstone bio during the first quarter valued at approximately $179,000. Finally, Wellington Management Group LLP raised its holdings in shares of Gritstone bio by 20.1% during the first quarter. Wellington Management Group LLP now owns 236,880 shares of the company’s stock valued at $976,000 after acquiring an additional 39,640 shares in the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, HC Wainwright dropped their price objective on Gritstone bio from $15.00 to $12.00 in a research note on Monday, May 9th.

Gritstone bio Company Profile

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Gritstone bio, Inc, a clinical-stage biotechnology company, engages in developing immunotherapies against multiple cancer types and infectious diseases. Its lead product candidate is GRANITE, a neoantigen-based immunotherapy for the treatment of solid tumors, including metastatic non-small cell lung cancer, as well as gastroesophageal, bladder and microsatellite stable, and colorectal cancers.

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Earnings History for Gritstone bio (NASDAQ:GRTS)

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