Gritstone bio (NASDAQ:GRTS) Given Buy Rating at HC Wainwright

HC Wainwright reissued their buy rating on shares of Gritstone bio (NASDAQ:GRTS) in a research note released on Thursday morning, Benzinga reports. The firm currently has a $4.00 price objective on the stock.

GRTS has been the topic of several other research reports. B. Riley reissued a buy rating and set a $3.00 price objective (down previously from $6.00) on shares of Gritstone bio in a research note on Friday, May 24th. JMP Securities reissued a market outperform rating and set a $5.00 price objective on shares of Gritstone bio in a research note on Monday, August 5th.

Gritstone bio Price Performance

Shares of GRTS stock traded up $0.04 during trading hours on Thursday, hitting $0.57. The company’s stock had a trading volume of 737,478 shares, compared to its average volume of 2,235,510. The business has a fifty day moving average of $0.64 and a 200-day moving average of $1.27. The stock has a market cap of $62.01 million, a price-to-earnings ratio of -0.43 and a beta of 0.50. Gritstone bio has a twelve month low of $0.45 and a twelve month high of $3.33. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 2.89.

Gritstone bio (NASDAQ:GRTS) last announced its quarterly earnings data on Tuesday, August 13th. The company reported ($0.16) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.28) by $0.12. The business had revenue of $0.92 million for the quarter, compared to the consensus estimate of $2.77 million. Gritstone bio had a negative net margin of 926.13% and a negative return on equity of 232.42%. As a group, equities research analysts anticipate that Gritstone bio will post -0.99 EPS for the current year.

Hedge Funds Weigh In On Gritstone bio

Large investors have recently bought and sold shares of the stock. Point72 DIFC Ltd purchased a new position in Gritstone bio during the second quarter worth approximately $29,000. Tidal Investments LLC purchased a new position in shares of Gritstone bio in the 1st quarter valued at $63,000. Lazard Asset Management LLC purchased a new position in shares of Gritstone bio in the 1st quarter valued at $70,000. Klingman & Associates LLC purchased a new position in shares of Gritstone bio in the 1st quarter valued at $89,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Gritstone bio in the 2nd quarter valued at $96,000. 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.