B. Riley lowered shares of Gritstone bio (NASDAQ:GRTS – Free Report) from a strong-buy rating to a hold rating in a report released on Tuesday, Zacks.com reports. B. Riley also issued estimates for Gritstone bio’s Q3 2024 earnings at ($0.14) EPS, Q4 2024 earnings at ($0.06) EPS, FY2024 earnings at ($0.62) EPS, FY2025 earnings at ($0.35) EPS and FY2026 earnings at ($0.32) EPS.
Other equities research analysts also recently issued research reports about the company. HC Wainwright reaffirmed a neutral rating and set a $0.50 price objective (down previously from $4.00) on shares of Gritstone bio in a research report on Tuesday. JMP Securities cut shares of Gritstone bio from an outperform rating to a market perform rating in a report on Tuesday.
Read Our Latest Research Report on GRTS
Gritstone bio Trading Down 5.0 %
Gritstone bio (NASDAQ:GRTS – Get Free Report) last issued its quarterly earnings data on Tuesday, August 13th. The company reported ($0.16) EPS for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.12. The company had revenue of $0.92 million during the quarter, compared to the consensus estimate of $2.77 million. Gritstone bio had a negative net margin of 910.50% and a negative return on equity of 328.51%. Equities analysts forecast that Gritstone bio will post -0.88 EPS for the current fiscal year.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently added to or reduced their stakes in GRTS. Tidal Investments LLC purchased a new position in shares of Gritstone bio in the first quarter worth $63,000. Susquehanna Fundamental Investments LLC purchased a new position in Gritstone bio in the 1st quarter worth $636,000. Vanguard Group Inc. lifted its position in Gritstone bio by 7.2% during the 1st quarter. Vanguard Group Inc. now owns 4,733,791 shares of the company’s stock worth $12,166,000 after acquiring an additional 317,499 shares during the period. Victory Capital Management Inc. grew its stake in Gritstone bio by 4,598.5% during the 2nd quarter. Victory Capital Management Inc. now owns 553,150 shares of the company’s stock valued at $342,000 after purchasing an additional 541,377 shares during the last quarter. Finally, Lazard Asset Management LLC acquired a new position in shares of Gritstone bio in the first quarter valued at about $70,000. 48.46% of the stock is currently owned by hedge funds and other institutional investors.
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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