HC Wainwright reaffirmed their buy rating on shares of Gritstone bio (NASDAQ:GRTS – Free Report) in a research note published on Monday, Benzinga reports. The firm currently has a $4.00 price target on the stock.
A number of other brokerages have also recently weighed in on GRTS. JMP Securities reiterated a market outperform rating and set a $5.00 price target on shares of Gritstone bio in a research report on Friday, June 14th. B. Riley reiterated a buy rating and issued a $3.00 target price (down previously from $6.00) on shares of Gritstone bio in a report on Friday, May 24th.
Check Out Our Latest Research Report on Gritstone bio
Gritstone bio Price Performance
Gritstone bio (NASDAQ:GRTS – Get Free Report) last issued its quarterly earnings data on Thursday, May 9th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing the consensus estimate 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 analysts’ expectations of $5.90 million. During the same quarter last year, the firm posted ($0.30) earnings per share. Equities analysts expect that Gritstone bio will post -0.99 EPS for the current year.
Hedge Funds Weigh In On Gritstone bio
Several institutional investors have recently bought and sold shares of GRTS. Susquehanna Fundamental Investments LLC purchased a new position in shares of Gritstone bio in the first quarter valued at approximately $636,000. Lazard Asset Management LLC acquired a new stake in Gritstone bio during the 1st quarter worth approximately $70,000. BNP Paribas Financial Markets boosted its position in Gritstone bio by 85.2% in the 1st quarter. BNP Paribas Financial Markets now owns 46,237 shares of the company’s stock valued at $119,000 after buying an additional 21,271 shares during the period. Forum Financial Management LP boosted its position in Gritstone bio by 405.6% in the 4th quarter. Forum Financial Management LP now owns 90,000 shares of the company’s stock valued at $184,000 after buying an additional 72,201 shares during the period. Finally, Artal Group S.A. acquired a new position in shares of Gritstone bio in the first quarter worth $2,650,000. 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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