B. Riley Comments on Gritstone bio, Inc.’s FY2024 Earnings (NASDAQ:GRTS)

Gritstone bio, Inc. (NASDAQ:GRTS) – Investment analysts at B. Riley raised their FY2024 earnings estimates for shares of Gritstone bio in a research report issued on Wednesday, August 28th. B. Riley analyst M. Mamtani now anticipates that the company will post earnings per share of ($0.98) for the year, up from their previous estimate of ($0.99). B. Riley has a “Buy” rating and a $3.00 price target on the stock. The consensus estimate for Gritstone bio’s current full-year earnings is ($0.99) per share. B. Riley also issued estimates for Gritstone bio’s Q4 2024 earnings at ($0.15) EPS and FY2025 earnings at ($0.91) EPS.

Gritstone bio (NASDAQ:GRTS) last announced its quarterly earnings results on Tuesday, August 13th. The company reported ($0.16) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.28) by $0.12. Gritstone bio had a negative return on equity of 232.42% and a negative net margin of 926.13%. The business had revenue of $0.92 million during the quarter, compared to the consensus estimate of $2.77 million.

Several other analysts also recently issued reports on GRTS. JMP Securities restated a “market outperform” rating and issued a $5.00 price target on shares of Gritstone bio in a research note on Monday, August 5th. HC Wainwright reaffirmed a “buy” rating and set a $4.00 price target on shares of Gritstone bio in a research report on Thursday, August 15th.

Gritstone bio Price Performance

Shares of GRTS opened at $0.45 on Friday. The firm has a market capitalization of $49.09 million, a PE ratio of -0.36 and a beta of 0.50. The company has a debt-to-equity ratio of 2.89, a current ratio of 2.00 and a quick ratio of 2.00. Gritstone bio has a fifty-two week low of $0.45 and a fifty-two week high of $3.33. The company’s 50-day moving average is $0.59 and its 200-day moving average is $1.14.

Institutional Investors Weigh In On Gritstone bio

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Tidal Investments LLC acquired a new position in shares of Gritstone bio during the first quarter valued at about $63,000. Susquehanna Fundamental Investments LLC bought a new stake in shares of Gritstone bio during the 1st quarter worth $636,000. Vanguard Group Inc. raised its holdings in shares of Gritstone bio by 7.2% in the 1st quarter. Vanguard Group Inc. now owns 4,733,791 shares of the company’s stock worth $12,166,000 after purchasing an additional 317,499 shares during the period. Lazard Asset Management LLC bought a new stake in shares of Gritstone bio in the first quarter valued at $70,000. Finally, BNP Paribas Financial Markets raised its stake in Gritstone bio by 85.2% in the 1st quarter. BNP Paribas Financial Markets now owns 46,237 shares of the company’s stock valued at $119,000 after acquiring an additional 21,271 shares during the period. 48.46% of the stock is owned by 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.