Q3 2024 EPS Estimates for Gritstone bio, Inc. Lifted by Analyst (NASDAQ:GRTS)

Gritstone bio, Inc. (NASDAQ:GRTS) – Equities researchers at HC Wainwright upped their Q3 2024 earnings estimates for shares of Gritstone bio in a research note issued to investors on Thursday, August 15th. HC Wainwright analyst S. Lee now anticipates that the company will post earnings of ($0.14) per share for the quarter, up from their previous estimate of ($0.16). HC Wainwright currently has a “Buy” rating and a $4.00 price objective on the stock. The consensus estimate for Gritstone bio’s current full-year earnings is ($0.99) per share. HC Wainwright also issued estimates for Gritstone bio’s Q4 2024 earnings at ($0.22) EPS, FY2024 earnings at ($0.86) EPS, Q2 2025 earnings at ($0.18) EPS, Q3 2025 earnings at ($0.19) EPS, Q4 2025 earnings at ($0.21) EPS, FY2025 earnings at ($0.76) EPS, FY2026 earnings at ($0.80) EPS, FY2027 earnings at ($0.53) EPS and FY2028 earnings at $0.09 EPS.

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

Several other equities analysts have also recently issued reports on the company. JMP Securities reaffirmed a “market outperform” rating and set a $5.00 price objective on shares of Gritstone bio in a report on Monday, August 5th. B. Riley restated a “buy” rating and issued a $3.00 price target (down previously from $6.00) on shares of Gritstone bio in a research report on Friday, May 24th.

Gritstone bio Price Performance

Shares of NASDAQ:GRTS opened at $0.50 on Monday. The firm has a market capitalization of $54.30 million, a price-to-earnings ratio of -0.40 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. The business’s 50 day simple moving average is $0.64 and its 200-day simple moving average is $1.24. Gritstone bio has a 12 month low of $0.45 and a 12 month high of $3.33.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of GRTS. Artal Group S.A. acquired a new stake in Gritstone bio during the 1st quarter valued at $2,650,000. Victory Capital Management Inc. lifted its position in shares of Gritstone bio by 4,598.5% in the second quarter. Victory Capital Management Inc. now owns 553,150 shares of the company’s stock valued at $342,000 after acquiring an additional 541,377 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Gritstone bio by 7.2% during the first quarter. Vanguard Group Inc. now owns 4,733,791 shares of the company’s stock valued at $12,166,000 after acquiring an additional 317,499 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Gritstone bio during the first quarter valued at $636,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in Gritstone bio during the 2nd quarter worth about $96,000. 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.