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

Gritstone bio (NASDAQ:GRTS)‘s stock had its “neutral” rating reissued by stock analysts at B. Riley in a report released on Wednesday, Benzinga reports. They presently have a $1.00 price target on the stock, down from their prior price target of $3.00. B. Riley’s target price indicates a potential upside of 400.00% from the company’s current price.

A number of other analysts also recently commented on the company. JMP Securities downgraded Gritstone bio from an “outperform” rating to a “market perform” rating in a research report on Tuesday. HC Wainwright reaffirmed a “neutral” rating and set a $0.50 price target (down from $4.00) on shares of Gritstone bio in a research report on Tuesday.

Gritstone bio Stock Performance

Shares of Gritstone bio stock opened at $0.20 on Wednesday. The company has a market cap of $21.71 million, a PE ratio of -0.16 and a beta of 0.47. Gritstone bio has a 52 week low of $0.18 and a 52 week high of $3.33. The business has a 50 day moving average price of $0.52 and a 200-day moving average price of $0.83. 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 (NASDAQ:GRTS) last issued its quarterly earnings data on Tuesday, August 13th. The company reported ($0.16) EPS 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 the consensus estimate 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 anticipate that Gritstone bio will post -0.88 earnings per share for the current fiscal year.

Institutional Trading of Gritstone bio

A number of institutional investors and hedge funds have recently modified their holdings of GRTS. BNP Paribas Financial Markets increased 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. Tidal Investments LLC purchased a new stake in Gritstone bio in the first quarter worth $63,000. Lazard Asset Management LLC purchased a new stake in Gritstone bio in the first quarter worth $70,000. Klingman & Associates LLC purchased a new stake in Gritstone bio in the first quarter worth $89,000. Finally, Point72 DIFC Ltd purchased a new stake in Gritstone bio in the second quarter worth $29,000. 48.46% of the stock is owned by hedge funds and other 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.