Gritstone bio (NASDAQ:GRTS – Get Free Report) was downgraded by investment analysts at JMP Securities from an “outperform” rating to a “market perform” rating in a report released on Tuesday, FinViz reports.
Separately, HC Wainwright reissued a “buy” rating and issued a $4.00 price target on shares of Gritstone bio in a report on Thursday, August 15th.
Get Our Latest Stock Analysis on GRTS
Gritstone bio Stock Down 4.2 %
Gritstone bio (NASDAQ:GRTS – Get Free Report) last released its quarterly earnings results on Tuesday, August 13th. The company reported ($0.16) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.28) by $0.12. Gritstone bio had a negative net margin of 910.50% and a negative return on equity of 328.51%. The business had revenue of $0.92 million for the quarter, compared to analyst estimates of $2.77 million. On average, equities analysts anticipate that Gritstone bio will post -0.88 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Gritstone bio
A number of institutional investors and hedge funds have recently modified their holdings of GRTS. Artal Group S.A. purchased a new position in Gritstone bio during the 1st quarter worth approximately $2,650,000. Victory Capital Management Inc. raised its holdings in shares of Gritstone bio by 4,598.5% during the second quarter. Victory Capital Management Inc. now owns 553,150 shares of the company’s stock worth $342,000 after purchasing an additional 541,377 shares during the last quarter. Vanguard Group Inc. lifted its position in Gritstone bio by 7.2% during the first quarter. Vanguard Group Inc. now owns 4,733,791 shares of the company’s stock valued at $12,166,000 after purchasing an additional 317,499 shares during the period. Susquehanna Fundamental Investments LLC purchased a new stake in Gritstone bio in the first quarter valued at $636,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in Gritstone bio during the 2nd quarter worth about $96,000. Institutional investors and hedge funds 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.
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