Gritstone bio’s (GRTS) “Neutral” Rating Reiterated at HC Wainwright

HC Wainwright reaffirmed their neutral rating on shares of Gritstone bio (NASDAQ:GRTS) in a report published on Tuesday morning, Marketbeat.com reports. The firm currently has a $0.50 price objective on the stock, down from their previous price objective of $4.00.

Separately, JMP Securities lowered Gritstone bio from an outperform rating to a market perform rating in a research note on Tuesday.

Gritstone bio Stock Down 5.0 %

GRTS opened at $0.19 on Tuesday. 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 company has a market cap of $20.63 million, a price-to-earnings ratio of -0.15 and a beta of 0.47. The business’s fifty day moving average is $0.50 and its two-hundred day moving average is $0.81. Gritstone bio has a one year low of $0.18 and a one year high of $3.33.

Gritstone bio (NASDAQ:GRTS) last announced its earnings results on Tuesday, August 13th. The company reported ($0.16) earnings per share for the quarter, beating 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 firm had revenue of $0.92 million during the quarter, compared to the consensus estimate of $2.77 million. Analysts anticipate that Gritstone bio will post -0.88 EPS for the current fiscal year.

Institutional Investors Weigh In On Gritstone bio

Large investors have recently modified their holdings of the stock. Point72 DIFC Ltd acquired a new position in Gritstone bio during the 2nd quarter worth approximately $29,000. Tidal Investments LLC acquired a new position in shares of Gritstone bio during the first quarter worth $63,000. Lazard Asset Management LLC acquired a new position in shares of Gritstone bio during the first quarter worth $70,000. Klingman & Associates LLC purchased a new position in shares of Gritstone bio in the first quarter valued at $89,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in Gritstone bio during the 2nd quarter valued at $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.