Gritstone bio (NASDAQ:GRTS) Shares Down 7.4%

Gritstone bio, Inc. (NASDAQ:GRTS)’s share price fell 7.4% during trading on Monday . The stock traded as low as $0.57 and last traded at $0.58. 1,157,263 shares traded hands during trading, a decline of 44% from the average session volume of 2,053,458 shares. The stock had previously closed at $0.63.

Wall Street Analyst Weigh In

GRTS has been the subject of a number of research analyst reports. JMP Securities reissued a “market outperform” rating and issued a $5.00 target price on shares of Gritstone bio in a research note on Monday, August 5th. HC Wainwright reissued a “buy” rating and set a $4.00 target price on shares of Gritstone bio in a research note on Thursday, August 15th.

Gritstone bio Trading Down 7.4 %

The company has a quick ratio of 2.54, a current ratio of 2.54 and a debt-to-equity ratio of 1.83. The company has a market capitalization of $63.08 million, a P/E ratio of -0.47 and a beta of 0.47. The business has a fifty day moving average price of $0.55 and a 200 day moving average price of $0.92.

Gritstone bio (NASDAQ:GRTS) last issued its quarterly earnings results on Tuesday, August 13th. The company reported ($0.16) earnings per share for the quarter, topping the consensus estimate of ($0.28) by $0.12. The company 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 910.50% and a negative return on equity of 328.51%. On average, analysts expect that Gritstone bio, Inc. will post -0.88 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Gritstone bio

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Point72 DIFC Ltd bought a new position in shares of Gritstone bio during the 2nd quarter worth approximately $29,000. Tidal Investments LLC acquired a new stake in Gritstone bio during the first quarter worth about $63,000. Lazard Asset Management LLC bought a new position in Gritstone bio in the first quarter valued at approximately $70,000. Klingman & Associates LLC acquired a new position in shares of Gritstone bio during the 1st quarter worth $89,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Gritstone bio in the second quarter worth about $96,000. 48.46% of the stock is owned by institutional investors.

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.