Gritstone bio, Inc. Expected to Earn Q1 2024 Earnings of ($0.23) Per Share (NASDAQ:GRTS)

Gritstone bio, Inc. (NASDAQ:GRTS) – B. Riley issued their Q1 2024 earnings per share (EPS) estimates for Gritstone bio in a research report issued to clients and investors on Tuesday, April 16th. B. Riley analyst M. Mamtani expects that the company will post earnings per share of ($0.23) for the quarter. The consensus estimate for Gritstone bio’s current full-year earnings is ($0.91) per share. B. Riley also issued estimates for Gritstone bio’s Q4 2024 earnings at ($0.16) EPS and FY2024 earnings at ($0.80) EPS.

A number of other equities analysts also recently commented on the company. HC Wainwright reiterated a “buy” rating and set a $7.00 price objective on shares of Gritstone bio in a research report on Wednesday, March 6th. JMP Securities lifted their price objective on Gritstone bio from $4.00 to $5.00 and gave the stock a “market outperform” rating in a research report on Tuesday, April 2nd.

Gritstone bio Stock Performance

Shares of NASDAQ:GRTS opened at $0.74 on Thursday. The company has a debt-to-equity ratio of 0.77, a current ratio of 3.20 and a quick ratio of 3.20. The business’s 50 day moving average price is $2.02 and its 200-day moving average price is $2.02. The firm has a market capitalization of $72.93 million, a PE ratio of -0.62 and a beta of 0.38. Gritstone bio has a 1 year low of $0.67 and a 1 year high of $3.33.

Gritstone bio (NASDAQ:GRTS) last issued its quarterly earnings data on Tuesday, March 5th. The company reported ($0.26) EPS for the quarter, beating the consensus estimate of ($0.36) by $0.10. The company had revenue of $10.38 million for the quarter, compared to analyst estimates of $4.80 million. Gritstone bio had a negative return on equity of 147.22% and a negative net margin of 847.24%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. JPMorgan Chase & Co. boosted its position in shares of Gritstone bio by 7.4% during the 1st quarter. JPMorgan Chase & Co. now owns 66,140 shares of the company’s stock worth $273,000 after acquiring an additional 4,557 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in shares of Gritstone bio by 22,727.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 10,044 shares of the company’s stock worth $41,000 after acquiring an additional 10,000 shares in the last quarter. BlackRock Inc. boosted its position in shares of Gritstone bio by 2.7% during the 1st quarter. BlackRock Inc. now owns 3,893,393 shares of the company’s stock worth $16,041,000 after acquiring an additional 101,960 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Gritstone bio by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 2,734,707 shares of the company’s stock worth $11,267,000 after acquiring an additional 23,437 shares in the last quarter. Finally, Ergoteles LLC acquired a new position in shares of Gritstone bio during the 1st quarter worth about $128,000. 48.46% of the stock is owned by institutional investors and hedge funds.

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.