Gritstone bio (NASDAQ:GRTS) Stock Rating Reaffirmed by B. Riley

Gritstone bio (NASDAQ:GRTS)‘s stock had its “neutral” rating reaffirmed by analysts at B. Riley in a research note issued to investors on Wednesday, Benzinga reports. They presently have a $1.00 price target on the stock, down from their previous price target of $3.00. B. Riley’s price target would suggest a potential upside of 354.75% from the stock’s previous close.

GRTS has been the subject of several other research reports. HC Wainwright reaffirmed a “neutral” rating and issued a $0.50 price objective (down previously from $4.00) on shares of Gritstone bio in a report on Tuesday. JMP Securities cut shares of Gritstone bio from an “outperform” rating to a “market perform” rating in a report on Tuesday.

Gritstone bio Price Performance

Shares of GRTS opened at $0.22 on Wednesday. Gritstone bio has a 12 month low of $0.21 and a 12 month high of $3.33. The company has a debt-to-equity ratio of 1.83, a current ratio of 2.54 and a quick ratio of 2.54. The stock has a fifty day moving average price of $0.54 and a 200 day moving average price of $0.85. The company has a market cap of $23.87 million, a P/E ratio of -0.18 and a beta of 0.47.

Gritstone bio (NASDAQ:GRTS) last announced its quarterly earnings results on Tuesday, August 13th. The company reported ($0.16) EPS for the quarter, beating the consensus estimate 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 net margin of 910.50% and a negative return on equity of 328.51%. On average, research analysts forecast that Gritstone bio will post -0.88 earnings per share for the current year.

Institutional Investors Weigh In On Gritstone bio

Hedge funds and other institutional investors have recently bought and sold shares of the business. Klingman & Associates LLC bought a new stake in shares of Gritstone bio in the 1st quarter worth approximately $89,000. BNP Paribas Financial Markets grew 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 worth $119,000 after buying an additional 21,271 shares during the last quarter. Susquehanna Fundamental Investments LLC bought a new position in shares of Gritstone bio in the first quarter valued at $636,000. Vanguard Group Inc. lifted its position in shares of Gritstone bio by 7.2% during the 1st 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 bought a new stake in shares of Gritstone bio during the 1st quarter worth $70,000. 48.46% of the stock is currently 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.