HC Wainwright restated their buy rating on shares of Gritstone bio (NASDAQ:GRTS – Free Report) in a report published on Monday morning, Benzinga reports. The brokerage currently has a $4.00 price target on the stock.
GRTS has been the topic of several other reports. JMP Securities reaffirmed a market outperform rating and issued a $5.00 target price on shares of Gritstone bio in a research report on Friday, June 14th. B. Riley reaffirmed a buy rating and issued a $3.00 target price (down from $6.00) on shares of Gritstone bio in a research report on Friday, May 24th.
Get Our Latest Stock Analysis on Gritstone bio
Gritstone bio Trading Down 3.8 %
Gritstone bio (NASDAQ:GRTS – Get Free Report) last issued its earnings results on Thursday, May 9th. The company reported ($0.34) earnings per share for the quarter, missing the consensus estimate of ($0.30) by ($0.04). The firm had revenue of $1.74 million during the quarter, compared to analysts’ expectations of $5.90 million. Gritstone bio had a negative return on equity of 232.42% and a negative net margin of 926.13%. During the same period last year, the business posted ($0.30) earnings per share. Sell-side analysts forecast that Gritstone bio will post -0.99 EPS for the current fiscal year.
Institutional Inflows and Outflows
Hedge funds have recently added to or reduced their stakes in the stock. Tidal Investments LLC acquired a new stake in shares of Gritstone bio during the first quarter valued at about $63,000. Lazard Asset Management LLC acquired a new stake in shares of Gritstone bio during the first quarter valued at about $70,000. Klingman & Associates LLC acquired a new stake in shares of Gritstone bio during the first quarter valued at about $89,000. BNP Paribas Financial Markets grew its stake in shares of Gritstone bio by 85.2% during the first quarter. BNP Paribas Financial Markets now owns 46,237 shares of the company’s stock valued at $119,000 after acquiring an additional 21,271 shares in the last quarter. Finally, Forum Financial Management LP grew its stake in shares of Gritstone bio by 63.1% during the second quarter. Forum Financial Management LP now owns 250,000 shares of the company’s stock valued at $154,000 after acquiring an additional 96,763 shares in the last quarter. 48.46% of the stock is owned by hedge funds and other institutional investors.
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.
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