Gritstone bio (NASDAQ:GRTS) Upgraded at Evercore ISI

Evercore ISI upgraded shares of Gritstone bio (NASDAQ:GRTS) to a strong-buy rating in a research report sent to investors on Tuesday morning, Zacks.com reports.

Several other research analysts also recently issued reports on the stock. HC Wainwright reiterated a neutral rating and issued a $0.50 target price (down previously from $4.00) on shares of Gritstone bio in a research note on Tuesday. JMP Securities cut shares of Gritstone bio from an outperform rating to a market perform rating in a research note on Tuesday. Finally, B. Riley restated a neutral rating and set a $1.00 price target (down previously from $3.00) on shares of Gritstone bio in a report on Wednesday.

Gritstone bio Trading Down 2.9 %

Shares of Gritstone bio stock opened at $0.20 on Tuesday. Gritstone bio has a 52-week low of $0.18 and a 52-week high of $3.33. The stock’s 50-day simple moving average is $0.52 and its 200 day simple moving average is $0.83. The company has a debt-to-equity ratio of 1.83, a quick ratio of 2.54 and a current ratio of 2.54. The stock has a market capitalization of $21.71 million, a P/E ratio of -0.16 and a beta of 0.47.

Gritstone bio (NASDAQ:GRTS) last announced its quarterly earnings data on Tuesday, August 13th. The company reported ($0.16) EPS for the quarter, beating the consensus estimate of ($0.28) by $0.12. The firm had revenue of $0.92 million for the quarter, compared to analyst estimates of $2.77 million. Gritstone bio had a negative return on equity of 328.51% and a negative net margin of 910.50%. As a group, research analysts anticipate that Gritstone bio will post -0.88 EPS for the current year.

Hedge Funds Weigh In On Gritstone bio

Several institutional investors have recently made changes to their positions in GRTS. BNP Paribas Financial Markets raised its stake in Gritstone bio by 85.2% in the 1st quarter. BNP Paribas Financial Markets now owns 46,237 shares of the company’s stock worth $119,000 after acquiring an additional 21,271 shares during the last quarter. Tidal Investments LLC purchased a new position in Gritstone bio in the 1st quarter worth approximately $63,000. Lazard Asset Management LLC purchased a new stake in Gritstone bio in the first quarter valued at approximately $70,000. Klingman & Associates LLC purchased a new position in Gritstone bio during the 1st quarter valued at about $89,000. Finally, Point72 DIFC Ltd purchased a new stake in shares of Gritstone bio during the second quarter worth $29,000. 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.