Gritstone bio (NASDAQ:GRTS) PT Raised to $5.00

Gritstone bio (NASDAQ:GRTS - Free Report) had its price objective lifted by JMP Securities from $4.00 to $5.00 in a research note released on Tuesday morning, Benzinga reports. JMP Securities currently has a market outperform rating on the stock.

Separately, HC Wainwright reissued a buy rating and issued a $7.00 price objective on shares of Gritstone bio in a research note on Wednesday, March 6th.

Gritstone bio Stock Down 48.9 %

Shares of NASDAQ GRTS traded down $1.15 during midday trading on Tuesday, hitting $1.20. The company's stock had a trading volume of 25,080,903 shares, compared to its average volume of 2,494,603. The business's fifty day simple moving average is $2.43 and its two-hundred day simple moving average is $2.07. The company has a debt-to-equity ratio of 0.77, a current ratio of 3.20 and a quick ratio of 3.20. Gritstone bio has a 1 year low of $1.14 and a 1 year high of $3.33. The firm has a market capitalization of $117.68 million, a price-to-earnings ratio of -1.04 and a beta of 0.38.

Gritstone bio (NASDAQ:GRTS - Get Free Report) last posted its quarterly earnings data on Tuesday, March 5th. The company reported ($0.26) EPS for the quarter, beating the consensus estimate of ($0.36) by $0.10. Gritstone bio had a negative net margin of 847.24% and a negative return on equity of 147.22%. The business had revenue of $10.38 million during the quarter, compared to analyst estimates of $4.80 million. On average, equities analysts predict that Gritstone bio will post -0.94 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Gritstone bio by 8.8% in the fourth quarter. Vanguard Group Inc. now owns 4,416,292 shares of the company's stock worth $9,009,000 after acquiring an additional 358,075 shares during the last quarter. Wexford Capital LP purchased a new stake in shares of Gritstone bio during the 4th quarter worth approximately $26,000. Barclays PLC lifted its position in shares of Gritstone bio by 285.9% during the 4th quarter. Barclays PLC now owns 141,787 shares of the company's stock worth $289,000 after buying an additional 105,042 shares during the last quarter. Royal Bank of Canada lifted its position in shares of Gritstone bio by 24.7% during the 4th quarter. Royal Bank of Canada now owns 44,398 shares of the company's stock worth $91,000 after buying an additional 8,799 shares during the last quarter. Finally, Northern Trust Corp lifted its position in shares of Gritstone bio by 1.2% during the 4th quarter. Northern Trust Corp now owns 731,922 shares of the company's stock worth $1,493,000 after buying an additional 8,798 shares during the last quarter. 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.