B. Riley reaffirmed their buy rating on shares of Gritstone bio (NASDAQ:GRTS – Free Report) in a research note released on Friday, Benzinga reports. B. Riley currently has a $3.00 price target on the stock, down from their previous price target of $6.00.
Several other analysts also recently issued reports on GRTS. HC Wainwright reduced their price target on Gritstone bio from $7.00 to $4.00 and set a buy rating for the company in a research note on Monday, May 13th. JMP Securities lifted their price objective on Gritstone bio from $4.00 to $5.00 and gave the company a market outperform rating in a report on Tuesday, April 2nd.
Check Out Our Latest Research Report on Gritstone bio
Gritstone bio Trading Down 2.5 %
Gritstone bio (NASDAQ:GRTS – Get Free Report) last posted its quarterly earnings results on Thursday, May 9th. The company reported ($0.34) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.04). Gritstone bio had a negative net margin of 926.13% and a negative return on equity of 232.42%. The company had revenue of $1.74 million during the quarter, compared to the consensus estimate of $5.90 million. During the same quarter in the prior year, the business earned ($0.30) earnings per share. Sell-side analysts anticipate that Gritstone bio will post -0.94 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Gritstone bio
Several hedge funds and other institutional investors have recently added to or reduced their stakes in GRTS. Forum Financial Management LP raised its holdings in Gritstone bio by 78.0% in the 3rd quarter. Forum Financial Management LP now owns 17,799 shares of the company’s stock valued at $31,000 after acquiring an additional 7,799 shares in the last quarter. Tidal Investments LLC acquired a new position in shares of Gritstone bio during the 1st quarter worth $63,000. Lazard Asset Management LLC acquired a new position in shares of Gritstone bio during the 1st quarter worth $70,000. Twin Peaks Wealth Advisors LLC acquired a new position in shares of Gritstone bio during the 4th quarter worth $82,000. Finally, Klingman & Associates LLC acquired a new position in shares of Gritstone bio during the 1st quarter worth $89,000. 48.46% of the stock is owned by institutional investors and hedge funds.
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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