Gritstone bio (NASDAQ:GRTS) Receives Neutral Rating from HC Wainwright

HC Wainwright restated their neutral rating on shares of Gritstone bio (NASDAQ:GRTS) in a report published on Tuesday, MarketBeat reports. They currently have a $0.50 price target on the stock, down from their previous price target of $4.00.

Separately, JMP Securities cut Gritstone bio from an outperform rating to a market perform rating in a research report on Tuesday.

Gritstone bio Price Performance

Shares of GRTS opened at $0.19 on Tuesday. The company has a current ratio of 2.54, a quick ratio of 2.54 and a debt-to-equity ratio of 1.83. The firm’s fifty day simple moving average is $0.50 and its 200-day simple moving average is $0.81. The firm has a market capitalization of $20.63 million, a price-to-earnings ratio of -0.15 and a beta of 0.47. Gritstone bio has a twelve month low of $0.18 and a twelve month high of $3.33.

Gritstone bio (NASDAQ:GRTS) last issued its earnings results on Tuesday, August 13th. The company reported ($0.16) earnings per share for the quarter, topping 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 forecast that Gritstone bio will post -0.88 EPS for the current fiscal year.

Institutional Trading of Gritstone bio

Several hedge funds and other institutional investors have recently made changes to their positions in GRTS. Vanguard Group Inc. raised its holdings in Gritstone bio by 7.2% during the first quarter. Vanguard Group Inc. now owns 4,733,791 shares of the company’s stock worth $12,166,000 after purchasing an additional 317,499 shares in the last quarter. Artal Group S.A. purchased a new stake in Gritstone bio in the 1st quarter valued at approximately $2,650,000. Victory Capital Management Inc. increased 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 worth $342,000 after purchasing an additional 541,377 shares during the period. Forum Financial Management LP raised its stake in shares of Gritstone bio by 63.1% during the 2nd quarter. Forum Financial Management LP now owns 250,000 shares of the company’s stock worth $154,000 after buying an additional 96,763 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in shares of Gritstone bio in the 1st quarter valued at approximately $636,000. 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.