According to Zacks, “Gritstone Oncology is developing tumor-specific cancer immunotherapies to fight multiple cancer types. The company has built its tumor-specific immunotherapy approach on two key pillars – first, a proprietary machine learning-based platform, Gritstone EDGE(TM), which provides a powerful ability to predict from a routine tumor biopsy the tumor-specific neoantigens, or TSNA, that are presented on a patients tumor cells; and second, the ability to develop and manufacture potent immunotherapies utilizing patients TSNA to drive the patients immune system to attack and destroy tumors. “
Several other research firms have also commented on GRTS. Cowen reiterated a buy rating on shares of Alector in a research report on Monday, May 13th. Berenberg Bank dropped their price target on Lucara Diamond from C$1.60 to C$1.50 in a research report on Wednesday, March 27th. Finally, HC Wainwright reiterated a buy rating and issued a $26.00 price target on shares of Iovance Biotherapeutics in a research report on Monday, April 1st. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average price target of $20.50.
Gritstone Oncology (NASDAQ:GRTS) last issued its quarterly earnings data on Monday, May 13th. The company reported ($0.62) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.65) by $0.03. The firm had revenue of $1.35 million for the quarter, compared to analysts’ expectations of $1.20 million. Analysts anticipate that Gritstone Oncology will post -2.39 earnings per share for the current fiscal year.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in GRTS. Versant Venture Management LLC purchased a new position in shares of Gritstone Oncology in the 2nd quarter valued at $34,567,000. FMR LLC grew its position in shares of Gritstone Oncology by 0.5% in the 1st quarter. FMR LLC now owns 2,919,381 shares of the company’s stock valued at $38,827,000 after buying an additional 15,551 shares during the last quarter. Redmile Group LLC grew its position in shares of Gritstone Oncology by 3.7% in the 1st quarter. Redmile Group LLC now owns 2,353,735 shares of the company’s stock valued at $31,305,000 after buying an additional 84,599 shares during the last quarter. Marshall Wace North America L.P. purchased a new position in shares of Gritstone Oncology in the 1st quarter valued at $84,000. Finally, Marshall Wace LLP purchased a new position in shares of Gritstone Oncology in the 1st quarter valued at $1,436,000. Institutional investors own 48.83% of the company’s stock.
Gritstone Oncology Company Profile
Gritstone Oncology Inc, an immuno-oncology company, engages in developing tumor-specific cancer immunotherapies to fight various cancer types. Its lead product candidate is GRANITE-001, which is in Phase I/II clinical trial for the treatment of solid tumors, including metastatic non-small cell lung cancer, as well as gastroesophageal, bladder and microsatellite stable, and colorectal cancers.
Featured Article: Leveraged Buyout (LBO)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Gritstone Oncology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gritstone Oncology and related companies with MarketBeat.com's FREE daily email newsletter.