HC Wainwright reiterated their buy rating on shares of Gritstone bio (NASDAQ:GRTS – Free Report) 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.
View Our Latest Report on Gritstone bio
Gritstone bio Stock Down 5.7 %
Gritstone bio (NASDAQ:GRTS – Get Free Report) 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.
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