Gritstone bio (NASDAQ:GRTS) Given “Neutral” Rating at HC Wainwright

HC Wainwright reaffirmed their neutral rating on shares of Gritstone bio (NASDAQ:GRTS) in a research note released on Tuesday morning, Marketbeat.com reports. HC Wainwright currently has a $0.50 price target on the stock, down from their prior price target of $4.00.

Separately, JMP Securities downgraded shares of Gritstone bio from an outperform rating to a market perform rating in a report on Tuesday.

Gritstone bio Price Performance

NASDAQ:GRTS opened at $0.20 on Tuesday. The company has a 50-day moving average of $0.52 and a 200-day moving average of $0.83. The company has a market capitalization of $21.71 million, a price-to-earnings ratio of -0.16 and a beta of 0.47. Gritstone bio has a 52 week low of $0.18 and a 52 week high of $3.33. The company has a debt-to-equity ratio of 1.83, a quick ratio of 2.54 and a current ratio of 2.54.

Gritstone bio (NASDAQ:GRTS) last released its quarterly earnings data on Tuesday, August 13th. The company reported ($0.16) EPS for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.12. Gritstone bio had a negative net margin of 910.50% and a negative return on equity of 328.51%. The company had revenue of $0.92 million during the quarter, compared to the consensus estimate of $2.77 million. As a group, equities research analysts anticipate that Gritstone bio will post -0.88 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Gritstone bio

Several institutional investors have recently modified their holdings of GRTS. BNP Paribas Financial Markets grew its holdings in Gritstone bio by 85.2% during the first quarter. BNP Paribas Financial Markets now owns 46,237 shares of the company’s stock valued at $119,000 after purchasing an additional 21,271 shares during the period. Tidal Investments LLC bought a new position in Gritstone bio in the first quarter valued at approximately $63,000. Lazard Asset Management LLC bought a new stake in shares of Gritstone bio in the first quarter worth $70,000. Klingman & Associates LLC bought a new stake in shares of Gritstone bio in the first quarter worth $89,000. Finally, Point72 DIFC Ltd bought a new stake in shares of Gritstone bio in the second quarter worth $29,000. 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.