Gritstone Oncology Inc (NASDAQ:GRTS) saw a significant growth in short interest in January. As of January 31st, there was short interest totalling 3,410,000 shares, a growth of 14.0% from the January 15th total of 2,990,000 shares. Based on an average daily volume of 173,200 shares, the days-to-cover ratio is currently 19.7 days. Approximately 17.5% of the shares of the stock are short sold.
A number of research firms have recently commented on GRTS. ValuEngine cut Gritstone Oncology from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 23rd. Cowen reiterated a “buy” rating on shares of Gritstone Oncology in a research report on Wednesday, January 15th. One analyst has rated the stock with a sell rating and six have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $16.50.
A number of hedge funds have recently bought and sold shares of the stock. Casdin Capital LLC grew its position in Gritstone Oncology by 22.0% during the 4th quarter. Casdin Capital LLC now owns 2,160,000 shares of the company’s stock worth $19,375,000 after purchasing an additional 390,000 shares during the last quarter. Captrust Financial Advisors acquired a new position in Gritstone Oncology in the fourth quarter valued at $329,000. Bank of America Corp DE raised its holdings in shares of Gritstone Oncology by 27.1% in the fourth quarter. Bank of America Corp DE now owns 19,409 shares of the company’s stock valued at $174,000 after buying an additional 4,134 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Gritstone Oncology by 3.9% in the fourth quarter. Bank of New York Mellon Corp now owns 81,902 shares of the company’s stock valued at $735,000 after buying an additional 3,111 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in shares of Gritstone Oncology by 105.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 28,122 shares of the company’s stock valued at $252,000 after buying an additional 14,406 shares during the last quarter. Institutional investors own 77.37% of the company’s stock.
Shares of NASDAQ GRTS opened at $9.47 on Friday. The company’s 50-day simple moving average is $9.28 and its 200-day simple moving average is $9.03. Gritstone Oncology has a 52-week low of $7.00 and a 52-week high of $15.94. The company has a current ratio of 6.76, a quick ratio of 6.76 and a debt-to-equity ratio of 0.12.
Gritstone Oncology (NASDAQ:GRTS) last released its earnings results on Tuesday, November 12th. The company reported ($0.77) EPS for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.11). The company had revenue of $0.98 million for the quarter, compared to analysts’ expectations of $1.20 million. Gritstone Oncology had a negative return on equity of 54.23% and a negative net margin of 1,838.71%. Equities analysts expect that Gritstone Oncology will post -2.69 EPS for the current fiscal year.
About Gritstone Oncology
Gritstone Oncology Inc, an immuno-oncology company, engages in developing tumor-specific cancer immunotherapies to fight various cancer types. Its lead product candidate is GRANITE-001, which is in Phase I/II clinical trial for the treatment of solid tumors, including metastatic non-small cell lung cancer, as well as gastroesophageal, bladder and microsatellite stable, and colorectal cancers.
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