Gritstone Oncology Inc (NASDAQ:GRTS) Receives $17.00 Consensus Price Target from Analysts

Shares of Gritstone Oncology Inc (NASDAQ:GRTS) have received an average rating of “Hold” from the seven brokerages that are currently covering the company, Marketbeat reports. Two research analysts have rated the stock with a sell rating and five have assigned a buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $17.00.

Several research analysts have recently weighed in on the company. Cowen reaffirmed a “buy” rating on shares of Gritstone Oncology in a research note on Wednesday, January 15th. ValuEngine downgraded Gritstone Oncology from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 23rd. BidaskClub downgraded Gritstone Oncology from a “hold” rating to a “sell” rating in a research note on Friday, March 13th. Finally, HC Wainwright reaffirmed a “buy” rating on shares of Gritstone Oncology in a research note on Thursday, March 12th.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. FMR LLC raised its stake in 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 purchasing an additional 15,551 shares during the last quarter. Casdin Capital LLC raised its stake in Gritstone Oncology by 22.0% in the 4th quarter. Casdin Capital LLC now owns 2,160,000 shares of the company’s stock valued at $19,375,000 after purchasing an additional 390,000 shares during the last quarter. State Street Corp raised its stake in Gritstone Oncology by 6.6% in the 4th quarter. State Street Corp now owns 469,950 shares of the company’s stock valued at $4,215,000 after purchasing an additional 28,938 shares during the last quarter. Geode Capital Management LLC raised its stake in Gritstone Oncology by 6.9% in the 4th quarter. Geode Capital Management LLC now owns 307,542 shares of the company’s stock valued at $2,758,000 after purchasing an additional 19,873 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Gritstone Oncology by 1.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 123,509 shares of the company’s stock valued at $1,108,000 after purchasing an additional 1,257 shares during the last quarter. 76.56% of the stock is owned by hedge funds and other institutional investors.

Shares of GRTS stock traded down $0.14 during trading hours on Monday, hitting $6.10. 238,500 shares of the company’s stock were exchanged, compared to its average volume of 160,441. The company has a quick ratio of 6.73, a current ratio of 6.73 and a debt-to-equity ratio of 0.16. The firm has a market cap of $226.66 million, a P/E ratio of -2.19 and a beta of 1.06. The firm has a 50 day moving average of $8.13 and a two-hundred day moving average of $8.61. Gritstone Oncology has a fifty-two week low of $5.44 and a fifty-two week high of $15.94.

Gritstone Oncology (NASDAQ:GRTS) last announced its earnings results on Wednesday, March 11th. The company reported ($0.77) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.69) by ($0.08). The business had revenue of $0.88 million for the quarter, compared to analyst estimates of $1.20 million. Gritstone Oncology had a negative return on equity of 62.40% and a negative net margin of 2,163.41%. On average, equities analysts forecast that Gritstone Oncology will post -3.19 earnings per share for the current fiscal year.

About Gritstone Oncology

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.

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