JMP Securities cut shares of Gritstone bio (NASDAQ:GRTS – Free Report) from an outperform rating to a market perform rating in a research note published on Tuesday, MarketBeat.com reports.
Separately, HC Wainwright reiterated a buy rating and set a $4.00 price objective on shares of Gritstone bio in a research report on Thursday, August 15th.
View Our Latest Research Report on Gritstone bio
Gritstone bio Trading Down 5.0 %
Gritstone bio (NASDAQ:GRTS – Get Free Report) last released its quarterly earnings data on Tuesday, August 13th. The company reported ($0.16) earnings per share for the quarter, beating the consensus estimate of ($0.28) by $0.12. Gritstone bio had a negative return on equity of 328.51% and a negative net margin of 910.50%. The business had revenue of $0.92 million for the quarter, compared to analyst estimates of $2.77 million. Equities analysts predict that Gritstone bio will post -0.88 EPS for the current fiscal year.
Hedge Funds Weigh In On Gritstone bio
A number of institutional investors and hedge funds have recently bought and sold shares of the company. BNP Paribas Financial Markets raised its stake in shares of 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 acquiring an additional 21,271 shares during the last quarter. Tidal Investments LLC bought a new position in Gritstone bio during the 1st quarter worth $63,000. Lazard Asset Management LLC acquired a new position in Gritstone bio during the 1st quarter worth about $70,000. Klingman & Associates LLC acquired a new position in Gritstone bio during the 1st quarter worth about $89,000. Finally, Point72 DIFC Ltd acquired a new stake in shares of Gritstone bio in the second quarter valued at about $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.
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