Insider Selling: Gritstone bio, Inc. (NASDAQ:GRTS) CEO Sells 24,263 Shares of Stock

Gritstone bio, Inc. (NASDAQ:GRTSGet Free Report) CEO Andrew R. Allen sold 24,263 shares of the stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $0.75, for a total transaction of $18,197.25. Following the transaction, the chief executive officer now owns 985,360 shares in the company, valued at approximately $739,020. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Gritstone bio Stock Up 1.5 %

GRTS stock opened at $0.84 on Thursday. Gritstone bio, Inc. has a twelve month low of $0.67 and a twelve month high of $3.33. The business’s 50-day moving average price is $1.31 and its 200-day moving average price is $1.80. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 2.89.

Gritstone bio (NASDAQ:GRTSGet Free Report) last announced its quarterly earnings data on Thursday, May 9th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.04). The firm had revenue of $1.74 million during the quarter, compared to analysts’ expectations of $5.90 million. Gritstone bio had a negative return on equity of 232.42% and a negative net margin of 926.13%. During the same period last year, the company earned ($0.30) earnings per share. As a group, research analysts predict that Gritstone bio, Inc. will post -0.94 EPS for the current year.

Institutional Investors Weigh In On Gritstone bio

A number of institutional investors have recently bought and sold shares of the business. Forum Financial Management LP lifted its position in shares of Gritstone bio by 78.0% in the third quarter. Forum Financial Management LP now owns 17,799 shares of the company’s stock valued at $31,000 after acquiring an additional 7,799 shares in the last quarter. Tidal Investments LLC purchased a new position in Gritstone bio in the 1st quarter worth approximately $63,000. Lazard Asset Management LLC bought a new position in Gritstone bio in the 1st quarter worth approximately $70,000. SG Americas Securities LLC purchased a new stake in Gritstone bio during the 3rd quarter valued at approximately $73,000. Finally, Twin Peaks Wealth Advisors LLC bought a new stake in shares of Gritstone bio during the fourth quarter valued at approximately $82,000. Hedge funds and other institutional investors own 48.46% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on GRTS. JMP Securities boosted their target price on shares of Gritstone bio from $4.00 to $5.00 and gave the company a “market outperform” rating in a research note on Tuesday, April 2nd. HC Wainwright reduced their price objective on Gritstone bio from $7.00 to $4.00 and set a “buy” rating for the company in a research report on Monday, May 13th.

Get Our Latest Analysis on GRTS

Gritstone bio Company Profile

(Get Free Report)

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.

Further Reading

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