Gritstone bio’s (GRTS) Neutral Rating Reaffirmed at HC Wainwright

Gritstone bio (NASDAQ:GRTS)‘s stock had its “neutral” rating reaffirmed by equities research analysts at HC Wainwright in a research note issued on Tuesday, MarketBeat.com reports. They presently have a $0.50 price objective on the stock, down from their previous price objective of $4.00. HC Wainwright’s target price points to a potential upside of 142.72% from the stock’s current price.

Separately, JMP Securities cut Gritstone bio from an “outperform” rating to a “market perform” rating in a research note on Tuesday.

Gritstone bio Stock Performance

Shares of NASDAQ:GRTS opened at $0.21 on Tuesday. The stock has a market capitalization of $22.37 million, a P/E ratio of -0.17 and a beta of 0.47. Gritstone bio has a 1-year low of $0.18 and a 1-year high of $3.33. The company has a current ratio of 2.54, a quick ratio of 2.54 and a debt-to-equity ratio of 1.83. The business has a 50-day moving average price of $0.53 and a two-hundred day moving average price of $0.84.

Gritstone bio (NASDAQ:GRTS) last announced its quarterly earnings data 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 firm had revenue of $0.92 million during the quarter, compared to analysts’ expectations of $2.77 million. Gritstone bio had a negative return on equity of 328.51% and a negative net margin of 910.50%. Equities analysts predict that Gritstone bio will post -0.88 earnings per share for the current year.

Institutional Trading of Gritstone bio

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Point72 DIFC Ltd bought a new stake in shares of Gritstone bio in the 2nd quarter valued at about $29,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in Gritstone bio during the 2nd quarter worth approximately $96,000. Victory Capital Management Inc. increased its stake 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 in the last quarter. Forum Financial Management LP increased its stake in Gritstone bio by 63.1% during the 2nd quarter. Forum Financial Management LP now owns 250,000 shares of the company’s stock worth $154,000 after purchasing an additional 96,763 shares in the last quarter. Finally, Artal Group S.A. bought a new stake in Gritstone bio during the 1st quarter worth approximately $2,650,000. 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.