Gritstone bio (NASDAQ:GRTS) Announces Earnings Results, Beats Expectations By $0.12 EPS

Posted by Irma Garcia on Aug 15th, 2024

Gritstone bio (NASDAQ:GRTS – Get Free Report) posted its quarterly earnings data on Tuesday. The company reported ($0.16) EPS for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.12, Yahoo Finance reports. The company had revenue of $0.92 million during the quarter, compared to analysts’ expectations of $2.77 million. Gritstone bio had a negative return on equity of 232.42% and a negative net margin of 926.13%.

Gritstone bio Price Performance

Gritstone bio stock traded up $0.01 during midday trading on Thursday, reaching $0.53. 691,775 shares of the stock traded hands, compared to its average volume of 2,245,169. The stock’s fifty day moving average is $0.65 and its 200-day moving average is $1.28. Gritstone bio has a 12 month low of $0.45 and a 12 month high of $3.33. The stock has a market cap of $57.55 million, a P/E ratio of -0.42 and a beta of 0.50. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 2.89.

Analyst Upgrades and Downgrades

GRTS has been the subject of a number of research reports. B. Riley reiterated a “buy” rating and set a $3.00 price objective (down previously from $6.00) on shares of Gritstone bio in a research report on Friday, May 24th. HC Wainwright reaffirmed a “buy” rating and issued a $4.00 price objective on shares of Gritstone bio in a research note on Thursday. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $5.00 price objective on shares of Gritstone bio in a research note on Monday, August 5th.

Check Out Our Latest Research Report on Gritstone bio

About Gritstone bio

(Get Free Report)

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.