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

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

Other equities research analysts have also recently issued reports about the company. B. Riley reissued a buy rating and set a $3.00 price target (down from $6.00) on shares of Gritstone bio in a report on Friday, May 24th. JMP Securities reiterated a market outperform rating and set a $5.00 target price on shares of Gritstone bio in a research report on Monday, August 5th.

Gritstone bio Trading Down 5.7 %

Gritstone bio stock opened at $0.50 on Thursday. Gritstone bio has a 12-month low of $0.45 and a 12-month high of $3.33. The firm has a market capitalization of $54.30 million, a price-to-earnings ratio of -0.40 and a beta of 0.50. The firm has a 50 day moving average of $0.64 and a 200 day moving average of $1.26. 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, topping analysts’ consensus estimates of ($0.28) by $0.12. The firm had revenue of $0.92 million during the quarter, compared to analysts’ expectations 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, research analysts predict that Gritstone bio will post -0.99 earnings per share for the current year.

Hedge Funds Weigh In On Gritstone bio

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Point72 DIFC Ltd bought a new position in shares of Gritstone bio during the 2nd quarter valued at about $29,000. Tidal Investments LLC bought a new position in shares of Gritstone bio during the 1st quarter valued at about $63,000. Lazard Asset Management LLC bought a new position in shares of Gritstone bio during the 1st quarter valued at about $70,000. Klingman & Associates LLC bought a new position in shares of Gritstone bio during the 1st quarter valued at about $89,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Gritstone bio during the 2nd quarter valued at about $96,000. 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.