FY2024 EPS Estimates for Gritstone bio, Inc. Raised by B. Riley (NASDAQ:GRTS)

Gritstone bio, Inc. (NASDAQ:GRTS) – Investment analysts at B. Riley upped their FY2024 earnings per share estimates for shares of Gritstone bio in a research note issued on Wednesday, August 28th. B. Riley analyst M. Mamtani now anticipates that the company will post earnings per share of ($0.98) for the year, up from their previous estimate of ($0.99). B. Riley has a “Buy” rating and a $3.00 price objective on the stock. The consensus estimate for Gritstone bio’s current full-year earnings is ($0.99) per share. B. Riley also issued estimates for Gritstone bio’s Q4 2024 earnings at ($0.15) EPS and FY2025 earnings at ($0.91) EPS.

Gritstone bio (NASDAQ:GRTS) last posted its quarterly earnings data on Tuesday, August 13th. The company reported ($0.16) earnings per share for the quarter, beating the consensus estimate of ($0.28) by $0.12. Gritstone bio had a negative return on equity of 232.42% and a negative net margin of 926.13%. The business had revenue of $0.92 million for the quarter, compared to analysts’ expectations of $2.77 million.

A number of other brokerages have also recently issued reports on GRTS. JMP Securities reissued a “market outperform” rating and set a $5.00 price target on shares of Gritstone bio in a research report on Monday, August 5th. HC Wainwright restated a “buy” rating and set a $4.00 price objective on shares of Gritstone bio in a research note on Thursday, August 15th.

Gritstone bio Stock Performance

Shares of Gritstone bio stock opened at $0.48 on Friday. 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 $51.77 million, a P/E ratio of -0.38 and a beta of 0.50. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 2.89. The business has a fifty day simple moving average of $0.58 and a two-hundred day simple moving average of $1.13.

Institutional Trading of Gritstone bio

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