JMP Securities Reiterates “Market Outperform” Rating for Gritstone bio (NASDAQ:GRTS)

JMP Securities restated their market outperform rating on shares of Gritstone bio (NASDAQ:GRTS) in a research note published on Monday, Benzinga reports. They currently have a $5.00 price objective on the stock.

Several other equities analysts have also issued reports on the company. B. Riley reaffirmed a buy rating and issued a $3.00 price target (down previously from $6.00) on shares of Gritstone bio in a research report on Friday, May 24th. HC Wainwright reiterated a buy rating and issued a $4.00 target price on shares of Gritstone bio in a research note on Monday.

Gritstone bio Price Performance

GRTS stock opened at $0.52 on Monday. 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 50 day moving average price of $0.67 and a 200-day moving average price of $1.35. Gritstone bio has a 52-week low of $0.45 and a 52-week high of $3.33. The firm has a market capitalization of $55.99 million, a price-to-earnings ratio of -0.42 and a beta of 0.50.

Gritstone bio (NASDAQ:GRTS) last announced its quarterly earnings data on Thursday, May 9th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.04). Gritstone bio had a negative net margin of 926.13% and a negative return on equity of 232.42%. The company had revenue of $1.74 million for the quarter, compared to analysts’ expectations of $5.90 million. During the same quarter in the previous year, the firm posted ($0.30) EPS. Equities research analysts forecast that Gritstone bio will post -0.99 EPS for the current fiscal year.

Institutional Investors Weigh In On Gritstone bio

Large investors have recently bought and sold shares of the business. Artal Group S.A. bought a new position in Gritstone bio during the 1st quarter valued at about $2,650,000. Victory Capital Management Inc. raised its holdings in shares of Gritstone bio by 4,598.5% during the second quarter. Victory Capital Management Inc. now owns 553,150 shares of the company’s stock valued at $342,000 after purchasing an additional 541,377 shares during the last quarter. Vanguard Group Inc. lifted its position in Gritstone bio by 7.2% during the first quarter. Vanguard Group Inc. now owns 4,733,791 shares of the company’s stock valued at $12,166,000 after purchasing an additional 317,499 shares during the period. Susquehanna Fundamental Investments LLC purchased a new stake in Gritstone bio in the first quarter worth approximately $636,000. Finally, Forum Financial Management LP grew its position in Gritstone bio by 63.1% in the 2nd quarter. Forum Financial Management LP now owns 250,000 shares of the company’s stock worth $154,000 after purchasing an additional 96,763 shares during the period. 48.46% of the stock is currently owned by 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.