HC Wainwright Reiterates “Buy” Rating for Gritstone bio (NASDAQ:GRTS)

Gritstone bio (NASDAQ:GRTS – Get Rating)‘s stock had its “buy” rating reissued by equities research analysts at HC Wainwright in a research note issued to investors on Tuesday, Benzinga reports. They presently have a $7.00 target price on the stock. HC Wainwright’s target price suggests a potential upside of 174.51% from the company’s previous close. HC Wainwright also issued estimates for Gritstone bio’s FY2027 earnings at ($0.03) EPS.

Gritstone bio Trading Down 1.5 %

GRTS stock opened at $2.55 on Tuesday. The company has a market cap of $223.53 million, a price-to-earnings ratio of -1.92 and a beta of 0.52. The company has a quick ratio of 5.25, a current ratio of 5.26 and a debt-to-equity ratio of 0.11. The business has a fifty day simple moving average of $2.91 and a 200-day simple moving average of $2.97. Gritstone bio has a 52 week low of $1.71 and a 52 week high of $5.85.

Institutional Trading of Gritstone bio

Several large investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. increased its holdings in Gritstone bio by 7.4% in the 1st quarter. JPMorgan Chase & Co. now owns 66,140 shares of the company’s stock valued at $273,000 after purchasing an additional 4,557 shares in the last quarter. Royal Bank of Canada increased its holdings in Gritstone bio by 40.1% in the 3rd quarter. Royal Bank of Canada now owns 21,289 shares of the company’s stock valued at $56,000 after purchasing an additional 6,089 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in Gritstone bio by 134.0% in the 3rd quarter. Tower Research Capital LLC TRC now owns 12,325 shares of the company’s stock valued at $31,000 after purchasing an additional 7,059 shares in the last quarter. Kingsview Wealth Management LLC increased its holdings in Gritstone bio by 38.3% in the 4th quarter. Kingsview Wealth Management LLC now owns 26,353 shares of the company’s stock valued at $91,000 after purchasing an additional 7,301 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its holdings in Gritstone bio by 22,727.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 10,044 shares of the company’s stock valued at $41,000 after purchasing an additional 10,000 shares in the last quarter. 48.06% of the stock is currently owned by institutional investors and hedge funds.

Gritstone bio Company Profile

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Gritstone bio, Inc clinical-stage biotechnology company, which engages in developing the next generation of cancer immunotherapies to fight multiple cancer types. The company was founded by Andrew Allen, Timothy Chan, Mark Cobbold, Graham Lord, Naiyer Rizvi and Jean-Charles Soria in August 2015 and is headquartered in Emeryville, CA.