Gritstone bio, Inc. (NASDAQ:GRTS – Get Free Report)’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.
Read Our Latest Stock Report on GRTS
Gritstone bio Trading Down 7.4 %
Gritstone bio (NASDAQ:GRTS – Get Free Report) 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.
Recommended Stories
- Five stocks we like better than Gritstone bio
- Golden Cross Stocks: Pattern, Examples and Charts
- The Average 401k Balance by Age Explained
- 3 Small Caps With Big Return Potential
- 3 Uranium Stocks To Gain as Microsoft Goes Nuclear to Power AI
- Bank Stocks – Best Bank Stocks to Invest In
- Biotech Boom Ahead? Key Stocks and ETFs to Watch Now
Receive News & Ratings for Gritstone bio Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gritstone bio and related companies with MarketBeat.com's FREE daily email newsletter.