Gritstone bio (NASDAQ:GRTS) Issues Earnings Results

Gritstone bio (NASDAQ:GRTS) released its earnings results on Tuesday. The company reported ($0.16) earnings per share for the quarter, topping the consensus estimate of ($0.28) by $0.12, Yahoo Finance reports. The company had revenue of $0.92 million during 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%.

Gritstone bio Stock Performance

Shares of NASDAQ GRTS traded up $0.04 during mid-day trading on Thursday, hitting $0.56. The company had a trading volume of 248,728 shares, compared to its average volume of 2,242,179. Gritstone bio has a 12 month low of $0.45 and a 12 month high of $3.33. The stock has a market cap of $60.60 million, a price-to-earnings ratio of -0.42 and a beta of 0.50. The company has a debt-to-equity ratio of 2.89, a current ratio of 2.00 and a quick ratio of 2.00. The firm’s 50 day simple moving average is $0.65 and its two-hundred day simple moving average is $1.28.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on GRTS shares. JMP Securities reiterated a “market outperform” rating and issued a $5.00 price target on shares of Gritstone bio in a report on Monday, August 5th. B. Riley reiterated a “buy” rating and set a $3.00 target price (down previously from $6.00) on shares of Gritstone bio in a research note on Friday, May 24th. Finally, HC Wainwright restated a “buy” rating and issued a $4.00 price target on shares of Gritstone bio in a research report on Thursday.

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.