Gritstone bio (NASDAQ:GRTS) Receives “Buy” Rating from HC Wainwright

HC Wainwright reiterated their buy rating on shares of Gritstone bio (NASDAQ:GRTS) in a report released on Thursday morning, Benzinga reports. They currently have a $4.00 price objective on the stock.

Other equities research analysts have also recently issued research reports about the stock. B. Riley reaffirmed a buy rating and set a $3.00 price objective (down previously from $6.00) on shares of Gritstone bio in a research note on Friday, May 24th. JMP Securities restated a market outperform rating and issued a $5.00 price target on shares of Gritstone bio in a research note on Monday, August 5th.

Gritstone bio Stock Down 5.7 %

Gritstone bio stock opened at $0.50 on Thursday. Gritstone bio has a 52 week low of $0.45 and a 52 week high of $3.33. The firm has a market cap of $54.30 million, a price-to-earnings ratio of -0.40 and a beta of 0.50. The business’s 50-day moving average price is $0.64 and its 200 day moving average price is $1.24. 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:GRTS) last issued 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. The business 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 926.13% and a negative return on equity of 232.42%. As a group, sell-side analysts anticipate that Gritstone bio will post -0.99 earnings per share for the current year.

Hedge Funds Weigh In On Gritstone bio

A number of large investors have recently added to or reduced their stakes in the stock. Tidal Investments LLC acquired a new stake in shares of Gritstone bio in the first quarter valued at about $63,000. Lazard Asset Management LLC purchased a new position in Gritstone bio in the 1st quarter valued at about $70,000. Klingman & Associates LLC acquired a new stake in Gritstone bio in the 1st quarter worth about $89,000. BNP Paribas Financial Markets increased its stake in Gritstone bio by 85.2% during the 1st quarter. BNP Paribas Financial Markets now owns 46,237 shares of the company’s stock worth $119,000 after buying an additional 21,271 shares in the last quarter. Finally, Point72 DIFC Ltd purchased a new stake in Gritstone bio during the 2nd quarter worth approximately $29,000. 48.46% of the stock is currently owned by institutional investors and hedge funds.

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.