Gritstone bio’s (GRTS) Neutral Rating Reiterated at B. Riley

B. Riley reiterated their neutral rating on shares of Gritstone bio (NASDAQ:GRTS) 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.

Gritstone bio Stock Down 5.0 %

Gritstone bio stock opened at $0.19 on Wednesday. Gritstone bio has a fifty-two week low of $0.18 and a fifty-two week high of $3.33. The firm has a market capitalization of $20.63 million, a price-to-earnings ratio of -0.15 and a beta of 0.49. The stock’s fifty day moving average is $0.50 and its two-hundred day moving average is $0.80. 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 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.