B. Riley Equities Analysts Lift Earnings Estimates for Gritstone bio, Inc. (NASDAQ:GRTS)

Gritstone bio, Inc. (NASDAQ:GRTS) – Equities research analysts at B. Riley increased their Q3 2024 EPS estimates for shares of Gritstone bio in a report released on Tuesday, October 1st. B. Riley analyst M. Mamtani now forecasts that the company will post earnings of ($0.14) per share for the quarter, up from their previous estimate of ($0.23). B. Riley currently has a “Hold” rating on the stock. The consensus estimate for Gritstone bio’s current full-year earnings is ($0.88) per share. B. Riley also issued estimates for Gritstone bio’s Q4 2024 earnings at ($0.06) EPS, FY2024 earnings at ($0.62) EPS, FY2025 earnings at ($0.35) EPS and FY2026 earnings at ($0.32) EPS.

Gritstone bio (NASDAQ:GRTS) last announced its earnings results on Tuesday, August 13th. The company reported ($0.16) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.12. The company had revenue of $0.92 million for the quarter, compared to analyst estimates of $2.77 million. Gritstone bio had a negative return on equity of 328.51% and a negative net margin of 910.50%.

Several other research firms also recently commented on GRTS. HC Wainwright restated a “neutral” rating and issued a $0.50 price target (down previously from $4.00) on shares of Gritstone bio in a research note on Tuesday. Evercore ISI upgraded shares of Gritstone bio to a “strong-buy” rating in a research note on Tuesday. Finally, JMP Securities downgraded shares of Gritstone bio from an “outperform” rating to a “market perform” rating in a research note on Tuesday.

Gritstone bio Stock Down 5.0 %

Shares of NASDAQ GRTS opened at $0.19 on Friday. The firm has a market cap of $20.63 million, a price-to-earnings ratio of -0.15 and a beta of 0.47. The company has a quick ratio of 2.54, a current ratio of 2.54 and a debt-to-equity ratio of 1.83. Gritstone bio has a 52-week low of $0.18 and a 52-week high of $3.33. The business’s 50 day moving average is $0.51 and its two-hundred day moving average is $0.83.

Hedge Funds Weigh In On Gritstone bio

A number of institutional investors and hedge funds have recently modified their holdings of GRTS. Klingman & Associates LLC acquired a new position in shares of Gritstone bio during the first quarter worth $89,000. BNP Paribas Financial Markets lifted its position in Gritstone bio by 85.2% in the first quarter. BNP Paribas Financial Markets now owns 46,237 shares of the company’s stock valued at $119,000 after acquiring an additional 21,271 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in Gritstone bio in the first quarter valued at $636,000. Vanguard Group Inc. lifted its position in Gritstone bio by 7.2% in the first quarter. Vanguard Group Inc. now owns 4,733,791 shares of the company’s stock valued at $12,166,000 after acquiring an additional 317,499 shares during the last quarter. Finally, Lazard Asset Management LLC purchased a new stake in Gritstone bio in the first quarter valued at $70,000. Institutional investors and hedge funds own 48.46% of the company’s stock.

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.