JMP Securities restated their market outperform rating on shares of Gritstone bio (NASDAQ:GRTS – Free Report) in a research note published on Monday morning, Benzinga reports. They currently have a $5.00 price objective on the stock.
A number of other brokerages have also recently commented on GRTS. HC Wainwright reiterated a buy rating and issued a $4.00 target price on shares of Gritstone bio in a report on Monday. B. Riley reiterated a buy rating and issued a $3.00 target price (down previously from $6.00) on shares of Gritstone bio in a report on Friday, May 24th.
Check Out Our Latest Analysis on Gritstone bio
Gritstone bio Price Performance
Gritstone bio (NASDAQ:GRTS – Get Free Report) last released 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 the consensus estimate 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 in the previous year, the firm earned ($0.30) EPS. As a group, sell-side analysts anticipate that Gritstone bio will post -0.99 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Gritstone bio
A number of large investors have recently bought and sold shares of the business. Artal Group S.A. bought a new stake in Gritstone bio during the 1st quarter valued at $2,650,000. Victory Capital Management Inc. raised its position in Gritstone bio by 4,598.5% during the 2nd quarter. Victory Capital Management Inc. now owns 553,150 shares of the company’s stock valued at $342,000 after purchasing an additional 541,377 shares in the last quarter. Vanguard Group Inc. raised its position in Gritstone bio by 7.2% during the 1st 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 in the last quarter. Susquehanna Fundamental Investments LLC bought a new stake in Gritstone bio during the 1st quarter valued at $636,000. Finally, Forum Financial Management LP raised its position in Gritstone bio by 63.1% during the 2nd quarter. Forum Financial Management LP now owns 250,000 shares of the company’s stock valued at $154,000 after purchasing an additional 96,763 shares in the last quarter. Hedge funds and other institutional investors own 48.46% of the company’s stock.
Gritstone bio Company Profile
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.
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