Gritstone bio, Inc. (NASDAQ:GRTS) CEO Sells $18,197.25 in Stock

Gritstone bio, Inc. (NASDAQ:GRTS - Get Free Report) CEO Andrew R. Allen sold 24,263 shares of the firm's stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $0.75, for a total value of $18,197.25. Following the transaction, the chief executive officer now owns 985,360 shares of the company's stock, valued at approximately $739,020. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Gritstone bio Trading Up 3.9 %

NASDAQ GRTS traded up $0.03 during trading on Monday, hitting $0.82. The stock had a trading volume of 2,271,964 shares, compared to its average volume of 2,731,466. The company has a debt-to-equity ratio of 2.89, a quick ratio of 2.00 and a current ratio of 2.00. The stock has a market capitalization of $88.80 million, a price-to-earnings ratio of -0.66 and a beta of 0.64. Gritstone bio, Inc. has a one year low of $0.67 and a one year high of $3.33. The stock has a 50 day simple moving average of $1.38 and a 200 day simple moving average of $1.81.

Gritstone bio (NASDAQ:GRTS - Get Free Report) last announced 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 return on equity of 232.42% and a negative net margin of 926.13%. The firm had revenue of $1.74 million during the quarter, compared to the consensus estimate of $5.90 million. During the same period in the previous year, the business earned ($0.30) EPS. Sell-side analysts predict that Gritstone bio, Inc. will post -0.94 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. HC Wainwright cut their price objective on Gritstone bio from $7.00 to $4.00 and set a "buy" rating for the company in a research report on Monday, May 13th. JMP Securities raised their price objective on Gritstone bio from $4.00 to $5.00 and gave the company a "market outperform" rating in a research report on Tuesday, April 2nd.

Institutional Trading of Gritstone bio

Several institutional investors and hedge funds have recently modified their holdings of GRTS. SG Americas Securities LLC bought a new stake in shares of Gritstone bio during the third quarter valued at approximately $73,000. Panagora Asset Management Inc. increased its holdings in Gritstone bio by 84.2% during the third quarter. Panagora Asset Management Inc. now owns 211,789 shares of the company's stock valued at $364,000 after buying an additional 96,790 shares during the period. Forum Financial Management LP increased its holdings in Gritstone bio by 78.0% during the third quarter. Forum Financial Management LP now owns 17,799 shares of the company's stock valued at $31,000 after buying an additional 7,799 shares during the period. Redmile Group LLC increased its holdings in Gritstone bio by 24.0% during the third quarter. Redmile Group LLC now owns 8,509,126 shares of the company's stock valued at $14,636,000 after buying an additional 1,648,900 shares during the period. Finally, Twin Peaks Wealth Advisors LLC purchased a new position in Gritstone bio during the fourth quarter valued at approximately $82,000. 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.