Gritstone bio, Inc. Expected to Post Q2 2024 Earnings of ($0.23) Per Share (NASDAQ:GRTS)

Gritstone bio, Inc. (NASDAQ:GRTS - Free Report) - Analysts at B. Riley issued their Q2 2024 earnings per share (EPS) estimates for shares of Gritstone bio in a research note issued to investors on Tuesday, April 16th. B. Riley analyst M. Mamtani expects that the company will earn ($0.23) per share for the quarter. The consensus estimate for Gritstone bio's current full-year earnings is ($0.91) per share. B. Riley also issued estimates for Gritstone bio's Q3 2024 earnings at ($0.20) EPS.

Gritstone bio (NASDAQ:GRTS - Get Free Report) last posted its quarterly earnings results on Tuesday, March 5th. The company reported ($0.26) earnings per share for the quarter, topping the consensus estimate of ($0.36) by $0.10. Gritstone bio had a negative return on equity of 147.22% and a negative net margin of 847.24%. The business had revenue of $10.38 million during the quarter, compared to the consensus estimate of $4.80 million.

Several other analysts have also recently issued reports on GRTS. HC Wainwright reaffirmed a "buy" rating and set a $7.00 price objective on shares of Gritstone bio in a report on Wednesday, March 6th. JMP Securities upped their price objective on Gritstone bio from $4.00 to $5.00 and gave the stock a "market outperform" rating in a report on Tuesday, April 2nd.

Gritstone bio Price Performance

GRTS stock traded down $0.03 during midday trading on Wednesday, hitting $0.75. The company's stock had a trading volume of 3,079,444 shares, compared to its average volume of 2,870,445. The firm has a market capitalization of $73.08 million, a price-to-earnings ratio of -0.62 and a beta of 0.38. Gritstone bio has a 12 month low of $0.67 and a 12 month high of $3.33. The company has a 50 day moving average of $2.05 and a two-hundred day moving average of $2.03. The company has a quick ratio of 3.20, a current ratio of 3.20 and a debt-to-equity ratio of 0.77.

Institutional Trading of Gritstone bio

Hedge funds and other institutional investors have recently bought and sold shares of the stock. PNC Financial Services Group Inc. raised its holdings in Gritstone bio by 22,727.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 10,044 shares of the company's stock valued at $41,000 after buying an additional 10,000 shares during the period. Point72 Hong Kong Ltd purchased a new stake in Gritstone bio during the 1st quarter valued at $42,000. American Century Companies Inc. purchased a new stake in Gritstone bio during the 4th quarter valued at $36,000. Tower Research Capital LLC TRC raised its holdings in Gritstone bio by 134.0% during the 3rd quarter. Tower Research Capital LLC TRC now owns 12,325 shares of the company's stock valued at $31,000 after buying an additional 7,059 shares during the period. Finally, Shay Capital LLC purchased a new stake in Gritstone bio during the 4th quarter valued at $43,000. Hedge funds and other institutional investors own 48.46% of the company's stock.

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.