JMP Securities lowered shares of Gritstone bio (NASDAQ:GRTS – Free Report) from an outperform rating to a market perform rating in a research report sent to investors on Tuesday, Marketbeat Ratings reports.
Separately, HC Wainwright restated a buy rating and issued a $4.00 price target on shares of Gritstone bio in a research note on Thursday, August 15th.
Get Our Latest Stock Analysis on Gritstone bio
Gritstone bio Stock Down 62.1 %
Gritstone bio (NASDAQ:GRTS – Get Free Report) 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. Gritstone bio had a negative return on equity of 328.51% and a negative net margin of 910.50%. The business had revenue of $0.92 million for the quarter, compared to analyst estimates of $2.77 million. On average, analysts predict that Gritstone bio will post -0.88 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
A number of hedge funds have recently bought and sold shares of GRTS. Artal Group S.A. bought a new position in shares of Gritstone bio during the 1st quarter worth approximately $2,650,000. Victory Capital Management Inc. lifted its holdings in Gritstone bio by 4,598.5% during the 2nd quarter. Victory Capital Management Inc. now owns 553,150 shares of the company’s stock worth $342,000 after purchasing an additional 541,377 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Gritstone bio by 7.2% during the 1st quarter. Vanguard Group Inc. now owns 4,733,791 shares of the company’s stock worth $12,166,000 after purchasing an additional 317,499 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in Gritstone bio during the 1st quarter worth approximately $636,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in Gritstone bio during the 2nd quarter worth approximately $96,000. 48.46% of the stock is currently owned by institutional investors.
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.
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