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

Gritstone bio, Inc. (NASDAQ:GRTS) – Equities researchers at B. Riley issued their Q1 2024 earnings estimates for Gritstone bio in a report released on Tuesday, April 16th. B. Riley analyst M. Mamtani expects 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 Q4 2024 earnings at ($0.16) EPS and FY2024 earnings at ($0.80) EPS.

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

Gritstone bio Price Performance

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

Gritstone bio (NASDAQ:GRTS) last announced its earnings results on Tuesday, March 5th. The company reported ($0.26) earnings per share for the quarter, beating the consensus estimate of ($0.36) by $0.10. The company had revenue of $10.38 million during 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 institutional investors and hedge funds have recently made changes to their positions in GRTS. JPMorgan Chase & Co. lifted its stake in shares of Gritstone bio by 7.4% during the first quarter. JPMorgan Chase & Co. now owns 66,140 shares of the company’s stock worth $273,000 after buying an additional 4,557 shares during the period. PNC Financial Services Group Inc. lifted its stake in shares of Gritstone bio by 22,727.3% during the first quarter. PNC Financial Services Group Inc. now owns 10,044 shares of the company’s stock worth $41,000 after buying an additional 10,000 shares during the period. BlackRock Inc. lifted its stake in shares of Gritstone bio by 2.7% during the first quarter. BlackRock Inc. now owns 3,893,393 shares of the company’s stock worth $16,041,000 after buying an additional 101,960 shares during the period. Vanguard Group Inc. raised its holdings in shares of Gritstone bio by 0.9% during the first quarter. Vanguard Group Inc. now owns 2,734,707 shares of the company’s stock worth $11,267,000 after purchasing an additional 23,437 shares during the last quarter. Finally, Ergoteles LLC purchased a new position in shares of Gritstone bio during the first quarter worth $128,000. 48.46% of the stock is currently owned by institutional investors and hedge funds.

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.