Gritstone bio’s (GRTS) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright restated their buy rating on shares of Gritstone bio (NASDAQ:GRTS) in a research note published on Monday, Benzinga reports. They currently have a $4.00 price objective on the stock.

Several other research analysts have also recently issued reports on GRTS. B. Riley reaffirmed a buy rating and issued a $3.00 target price (down from $6.00) on shares of Gritstone bio in a report on Friday, May 24th. JMP Securities reaffirmed a market outperform rating and issued a $5.00 price objective on shares of Gritstone bio in a research report on Friday, June 14th.

Gritstone bio Stock Performance

Shares of GRTS opened at $0.52 on Monday. Gritstone bio has a 52 week low of $0.45 and a 52 week high of $3.33. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 2.89. The stock has a market cap of $55.99 million, a P/E ratio of -0.42 and a beta of 0.50. The business’s 50 day moving average price is $0.67 and its 200-day moving average price is $1.35.

Gritstone bio (NASDAQ:GRTS) last issued its quarterly 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). 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 the consensus estimate of $5.90 million. During the same quarter in the previous year, the business earned ($0.30) earnings per share. Equities research analysts anticipate that Gritstone bio will post -0.99 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Gritstone bio

A number of large investors have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets increased its holdings in Gritstone bio by 85.2% in the 1st quarter. BNP Paribas Financial Markets now owns 46,237 shares of the company’s stock worth $119,000 after acquiring an additional 21,271 shares in the last quarter. Tidal Investments LLC purchased a new position in shares of Gritstone bio during the 1st quarter valued at $63,000. Lazard Asset Management LLC purchased a new stake in Gritstone bio in the 1st quarter worth $70,000. Klingman & Associates LLC bought a new stake in Gritstone bio during the 1st quarter valued at approximately $89,000. Finally, Forum Financial Management LP raised its position in shares of Gritstone bio by 405.6% during the fourth quarter. Forum Financial Management LP now owns 90,000 shares of the company’s stock valued at $184,000 after buying an additional 72,201 shares during the last quarter. Institutional investors own 48.46% of the company’s stock.

About Gritstone bio

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.