B. Riley Comments on Gritstone bio, Inc.’s Q1 2024 Earnings (NASDAQ:GRTS)

Gritstone bio, Inc. (NASDAQ:GRTS) – Equities research analysts at B. Riley issued their Q1 2024 earnings per share (EPS) estimates for Gritstone bio in a note issued to investors on Tuesday, April 16th. B. Riley analyst M. Mamtani anticipates that the company will earn ($0.23) per share for the quarter. The consensus estimate for Gritstone bio’s current full-year earnings is ($0.91) per share. B. Riley also issued estimates for Gritstone bio’s Q4 2024 earnings at ($0.16) EPS and FY2024 earnings at ($0.80) EPS.

GRTS has been the topic of several other research reports. HC Wainwright reaffirmed a “buy” rating and issued a $7.00 price target on shares of Gritstone bio in a report on Wednesday, March 6th. JMP Securities lifted their price objective on shares of Gritstone bio from $4.00 to $5.00 and gave the stock a “market outperform” rating in a research report on Tuesday, April 2nd.

Gritstone bio Price Performance

NASDAQ GRTS opened at $0.74 on Thursday. The stock has a market capitalization of $72.93 million, a P/E ratio of -0.62 and a beta of 0.38. Gritstone bio has a 1 year low of $0.67 and a 1 year high of $3.33. The business’s fifty day moving average is $2.02 and its two-hundred day moving average is $2.02. The company has a debt-to-equity ratio of 0.77, a quick ratio of 3.20 and a current ratio of 3.20.

Gritstone bio (NASDAQ:GRTS) last posted its quarterly earnings results on Tuesday, March 5th. The company reported ($0.26) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.36) by $0.10. The company had revenue of $10.38 million for the quarter, compared to analysts’ expectations of $4.80 million. Gritstone bio had a negative return on equity of 147.22% and a negative net margin of 847.24%.

Hedge Funds Weigh In On Gritstone bio

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Gritstone bio by 8.8% during the 4th quarter. Vanguard Group Inc. now owns 4,416,292 shares of the company’s stock valued at $9,009,000 after acquiring an additional 358,075 shares in the last quarter. Wexford Capital LP purchased a new position in shares of Gritstone bio during the 4th quarter valued at $26,000. Barclays PLC grew its holdings in shares of Gritstone bio by 285.9% during the 4th quarter. Barclays PLC now owns 141,787 shares of the company’s stock valued at $289,000 after acquiring an additional 105,042 shares in the last quarter. Royal Bank of Canada grew its holdings in shares of Gritstone bio by 24.7% during the 4th quarter. Royal Bank of Canada now owns 44,398 shares of the company’s stock valued at $91,000 after acquiring an additional 8,799 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in shares of Gritstone bio by 1.2% during the 4th quarter. Northern Trust Corp now owns 731,922 shares of the company’s stock valued at $1,493,000 after acquiring an additional 8,798 shares in the last quarter. 48.46% of the stock is currently owned by hedge funds and other institutional investors.

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.