Q2 2024 Earnings Forecast for Gritstone bio, Inc. Issued By HC Wainwright (NASDAQ:GRTS)

Gritstone bio, Inc. (NASDAQ:GRTS - Free Report) - Equities research analysts at HC Wainwright increased their Q2 2024 earnings estimates for Gritstone bio in a report released on Monday, May 13th. HC Wainwright analyst S. Lee now expects that the company will post earnings per share of ($0.28) for the quarter, up from their previous forecast of ($0.32). HC Wainwright has a "Buy" rating and a $4.00 price target on the stock. The consensus estimate for Gritstone bio's current full-year earnings is ($0.95) per share. HC Wainwright also issued estimates for Gritstone bio's Q3 2024 earnings at ($0.16) EPS, Q4 2024 earnings at ($0.24) EPS, FY2024 earnings at ($1.02) EPS, Q1 2025 earnings at ($0.18) EPS, Q2 2025 earnings at ($0.17) EPS, Q3 2025 earnings at ($0.17) EPS, Q4 2025 earnings at ($0.17) EPS and FY2025 earnings at ($0.69) EPS.

Separately, JMP Securities boosted their price objective on shares of Gritstone bio from $4.00 to $5.00 and gave the stock a "market outperform" rating in a research note on Tuesday, April 2nd.

Gritstone bio Stock Down 1.5 %

Shares of GRTS stock traded down $0.01 during mid-day trading on Wednesday, hitting $0.75. 1,477,373 shares of the stock traded hands, compared to its average volume of 2,756,760. Gritstone bio has a 52-week low of $0.67 and a 52-week high of $3.33. The stock has a market cap of $81.43 million, a P/E ratio of -0.61 and a beta of 0.64. The company has a debt-to-equity ratio of 2.89, a current ratio of 2.00 and a quick ratio of 2.00. The stock's fifty day moving average is $1.51 and its two-hundred day moving average is $1.84.

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 for the quarter, missing analysts' consensus estimates of ($0.30) by ($0.04). Gritstone bio had a negative return on equity of 232.42% and a negative net margin of 926.13%. The company had revenue of $1.74 million for the quarter, compared to analysts' expectations of $5.90 million. During the same quarter last year, the company earned ($0.30) earnings per share.

Hedge Funds Weigh In On Gritstone bio

Hedge funds have recently bought and sold shares of the business. Redmile Group LLC boosted its holdings in Gritstone bio by 24.0% in the 3rd quarter. Redmile Group LLC now owns 8,509,126 shares of the company's stock worth $14,636,000 after buying an additional 1,648,900 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Gritstone bio by 7.2% in the first quarter. Vanguard Group Inc. now owns 4,733,791 shares of the company's stock worth $12,166,000 after acquiring an additional 317,499 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Gritstone bio during the first quarter worth approximately $636,000. Panagora Asset Management Inc. raised its stake in Gritstone bio by 84.2% in the 3rd quarter. Panagora Asset Management Inc. now owns 211,789 shares of the company's stock valued at $364,000 after purchasing an additional 96,790 shares during the last quarter. Finally, Forum Financial Management LP raised its stake 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 purchasing an additional 72,201 shares during the last quarter. Hedge funds and other institutional investors own 48.46% of the company's stock.

About Gritstone bio

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.