Research Analysts Offer Predictions for Gritstone bio, Inc.’s Q2 2024 Earnings (NASDAQ:GRTS)

Gritstone bio, Inc. (NASDAQ:GRTS) – Equities researchers at B. Riley issued their Q2 2024 EPS estimates for shares of Gritstone bio in a research report issued on Tuesday, April 16th. B. Riley analyst M. Mamtani anticipates that the company will post earnings per share of ($0.23) 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 Q3 2024 earnings at ($0.20) EPS.

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

A number of other equities analysts have also recently commented on GRTS. HC Wainwright reaffirmed a “buy” rating and set a $7.00 price target on shares of Gritstone bio in a research note on Wednesday, March 6th. JMP Securities lifted their price target 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

GRTS stock opened at $0.75 on Wednesday. Gritstone bio has a 12 month low of $0.67 and a 12 month high of $3.33. The company has a current ratio of 3.20, a quick ratio of 3.20 and a debt-to-equity ratio of 0.77. The company has a 50-day moving average price of $2.05 and a 200 day moving average price of $2.03. The stock has a market cap of $73.08 million, a PE ratio of -0.62 and a beta of 0.38.

Institutional Investors Weigh In On Gritstone bio

Several large investors have recently added to or reduced their stakes in the stock. Redmile Group LLC boosted its position in Gritstone bio by 24.0% in the 3rd quarter. Redmile Group LLC now owns 8,509,126 shares of the company’s stock valued at $14,636,000 after buying an additional 1,648,900 shares during the period. Point72 Asset Management L.P. purchased a new stake in Gritstone bio in the 4th quarter valued at about $26,496,000. BlackRock Inc. boosted its position in Gritstone bio by 221.5% in the 2nd quarter. BlackRock Inc. now owns 6,213,432 shares of the company’s stock valued at $12,116,000 after buying an additional 4,280,777 shares during the period. Vanguard Group Inc. raised its holdings 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 in the last quarter. Finally, Balyasny Asset Management L.P. raised its holdings in shares of Gritstone bio by 15.5% in the 1st quarter. Balyasny Asset Management L.P. now owns 2,373,030 shares of the company’s stock valued at $6,597,000 after purchasing an additional 318,490 shares in 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.