B. Riley reiterated their neutral rating on shares of Gritstone bio (NASDAQ:GRTS – Free Report) in a research report released on Wednesday, Benzinga reports. B. Riley currently has a $1.00 target price on the stock, down from their prior target price of $3.00. B. Riley also issued estimates for Gritstone bio’s Q3 2024 earnings at ($0.14) EPS, Q4 2024 earnings at ($0.06) EPS, FY2024 earnings at ($0.62) EPS, FY2025 earnings at ($0.35) EPS and FY2026 earnings at ($0.32) EPS.
Other research analysts have also recently issued reports about the stock. JMP Securities cut shares of Gritstone bio from an outperform rating to a market perform rating in a research note on Tuesday, October 1st. HC Wainwright reissued a neutral rating and set a $0.50 price target (down previously from $4.00) on shares of Gritstone bio in a research report on Tuesday, October 1st.
View Our Latest Stock Analysis on GRTS
Gritstone bio Stock Down 5.0 %
Gritstone bio (NASDAQ:GRTS – Get Free Report) last issued its quarterly earnings data on Tuesday, August 13th. The company reported ($0.16) EPS for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.12. The firm had revenue of $0.92 million for the quarter, compared to analysts’ expectations of $2.77 million. Gritstone bio had a negative net margin of 910.50% and a negative return on equity of 328.51%. Analysts predict that Gritstone bio will post -0.88 EPS for the current fiscal year.
Hedge Funds Weigh In On Gritstone bio
Institutional investors have recently modified their holdings of the company. Tidal Investments LLC purchased a new stake in Gritstone bio in the 1st quarter worth approximately $63,000. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Gritstone bio in the first quarter valued at $636,000. Vanguard Group Inc. increased its stake in Gritstone bio by 7.2% in the first quarter. Vanguard Group Inc. now owns 4,733,791 shares of the company’s stock valued at $12,166,000 after purchasing an additional 317,499 shares during the last quarter. Victory Capital Management Inc. lifted its position in Gritstone bio by 4,598.5% during the second quarter. Victory Capital Management Inc. now owns 553,150 shares of the company’s stock worth $342,000 after buying an additional 541,377 shares during the period. Finally, Lazard Asset Management LLC purchased a new stake in Gritstone bio in the 1st quarter valued at about $70,000. Institutional investors and hedge funds own 48.46% of the company’s stock.
About Gritstone bio
Gritstone bio, Inc, a clinical-stage biotechnology company, engages in developing vaccine-based immunotherapy candidates against cancer and infectious diseases. Its primary product candidate is GRANITE, an individualized immunotherapy candidate, which is in Phase 2/3 clinical trials for the treatment of microsatellite stable colorectal cancers; and has completed Phase 1/2 clinical trials for treating solid tumors.
Recommended Stories
- Five stocks we like better than Gritstone bio
- How to Most Effectively Use the MarketBeat Earnings Screener
- 3 Small-Cap Stocks on the Way to Bigger and Better Days
- 3 Home Improvement Stocks that Can Upgrade Your Portfolio
- MarketBeat Week in Review – 9/30 – 10/4
- What is the S&P 500 and How It is Distinct from Other Indexes
- Top Streaming Companies: Who’s Winning the Battle?
Receive News & Ratings for Gritstone bio Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gritstone bio and related companies with MarketBeat.com's FREE daily email newsletter.