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

Gritstone bio, Inc. (NASDAQ:GRTS) – B. Riley issued their Q2 2024 earnings estimates for shares of Gritstone bio in a research note issued on Tuesday, April 16th. B. Riley analyst M. Mamtani anticipates 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 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, beating analysts’ consensus estimates of ($0.36) by $0.10. The firm had revenue of $10.38 million during the quarter, compared to analyst estimates of $4.80 million. Gritstone bio had a negative net margin of 847.24% and a negative return on equity of 147.22%.

GRTS has been the subject of several other reports. HC Wainwright reiterated a “buy” rating and issued a $7.00 target price on shares of Gritstone bio in a research report 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 report on Tuesday, April 2nd.

Gritstone bio Stock Down 3.5 %

GRTS opened at $0.75 on Wednesday. Gritstone bio has a one year low of $0.67 and a one year high of $3.33. The company has a fifty day moving average price of $2.05 and a 200-day moving average price of $2.03. The firm has a market capitalization of $73.08 million, a P/E ratio of -0.62 and a beta of 0.38. The company has a debt-to-equity ratio of 0.77, a current ratio of 3.20 and a quick ratio of 3.20.

Institutional Inflows and Outflows

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