Gritstone bio (NASDAQ:GRTS) Posts Earnings Results, Beats Estimates By $0.12 EPS

Gritstone bio (NASDAQ:GRTS) issued its quarterly earnings results on Tuesday. The company reported ($0.16) EPS for the quarter, topping the consensus estimate of ($0.28) by $0.12, Yahoo Finance reports. The firm 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%.

Gritstone bio Price Performance

Gritstone bio stock traded up $0.02 during midday trading on Wednesday, reaching $0.54. 842,471 shares of the stock were exchanged, compared to its average volume of 2,253,259. The company’s fifty day moving average is $0.65 and its 200-day moving average is $1.28. The company has a debt-to-equity ratio of 2.89, a quick ratio of 2.00 and a current ratio of 2.00. The firm has a market cap of $58.62 million, a PE ratio of -0.42 and a beta of 0.50. Gritstone bio has a 52 week low of $0.45 and a 52 week high of $3.33.

Analyst Ratings Changes

GRTS has been the subject of a number of recent research reports. B. Riley reissued a “buy” rating and issued a $3.00 price objective (down previously from $6.00) on shares of Gritstone bio in a report on Friday, May 24th. HC Wainwright reaffirmed a “buy” rating and set a $4.00 price target on shares of Gritstone bio in a research note on Monday, August 5th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $5.00 price target on shares of Gritstone bio in a research note on Monday, August 5th.

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.