Equities Analysts Issue Forecasts for Gritstone bio, Inc.’s Q1 2024 Earnings (NASDAQ:GRTS)

Gritstone bio, Inc. (NASDAQ:GRTS) – Investment analysts at B. Riley issued their Q1 2024 earnings estimates for shares of Gritstone bio in a research report issued to clients and investors on Tuesday, April 16th. B. Riley analyst M. Mamtani expects that the company will post earnings of ($0.23) per share for the quarter. The consensus estimate for Gritstone bio’s current full-year earnings is ($0.91) per share. B. Riley also issued estimates for Gritstone bio’s Q4 2024 earnings at ($0.16) EPS and FY2024 earnings at ($0.80) EPS.

Several other equities research analysts also recently weighed in on GRTS. HC Wainwright reaffirmed a “buy” rating and set a $7.00 target price on shares of Gritstone bio in a research note on Wednesday, March 6th. JMP Securities upped their target price on shares of Gritstone bio from $4.00 to $5.00 and gave the stock a “market outperform” rating in a research note on Tuesday, April 2nd.

Gritstone bio Price Performance

Gritstone bio stock opened at $0.75 on Thursday. The company’s 50 day simple moving average is $2.05 and its 200-day simple moving average is $2.03. The company has a market capitalization of $73.08 million, a price-to-earnings ratio of -0.62 and a beta of 0.38. Gritstone bio has a 1 year low of $0.67 and a 1 year high of $3.33. The company has a debt-to-equity ratio of 0.77, a quick ratio of 3.20 and a current ratio of 3.20.

Gritstone bio (NASDAQ:GRTS) last released its quarterly earnings results on Tuesday, March 5th. The company reported ($0.26) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.10. The business had revenue of $10.38 million for the quarter, compared to the consensus estimate of $4.80 million. Gritstone bio had a negative net margin of 847.24% and a negative return on equity of 147.22%.

Institutional Investors Weigh In On Gritstone bio

Several large investors have recently added to or reduced their stakes in GRTS. Vanguard Group Inc. increased its position in shares of Gritstone bio by 8.8% in the 4th quarter. Vanguard Group Inc. now owns 4,416,292 shares of the company’s stock valued at $9,009,000 after purchasing an additional 358,075 shares during the last quarter. Wexford Capital LP purchased a new stake in shares of Gritstone bio in the 4th quarter valued at approximately $26,000. Barclays PLC increased its position in shares of Gritstone bio by 285.9% in the 4th quarter. Barclays PLC now owns 141,787 shares of the company’s stock valued at $289,000 after purchasing an additional 105,042 shares during the last quarter. Royal Bank of Canada increased its position in shares of Gritstone bio by 24.7% in the 4th quarter. Royal Bank of Canada now owns 44,398 shares of the company’s stock valued at $91,000 after purchasing an additional 8,799 shares during the last quarter. Finally, Northern Trust Corp increased its position in shares of Gritstone bio by 1.2% in the 4th quarter. Northern Trust Corp now owns 731,922 shares of the company’s stock valued at $1,493,000 after purchasing an additional 8,798 shares during the last quarter. 48.46% of the stock is owned by hedge funds and other institutional investors.

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.