Gritstone bio (NASDAQ:GRTS) Posts Quarterly Earnings Results, Beats Expectations By $0.06 EPS

Gritstone bio (NASDAQ:GRTSGet Rating) posted its quarterly earnings results on Thursday. The company reported ($0.34) EPS for the quarter, beating the consensus estimate of ($0.40) by $0.06, Fidelity Earnings reports. Gritstone bio had a negative return on equity of 56.90% and a negative net margin of 634.23%. During the same period in the previous year, the firm earned ($0.33) earnings per share.

Gritstone bio Price Performance

Shares of NASDAQ:GRTS traded up $0.03 during midday trading on Friday, hitting $3.43. The company had a trading volume of 1,135,249 shares, compared to its average volume of 540,962. Gritstone bio has a twelve month low of $1.71 and a twelve month high of $14.42. The stock has a market cap of $249.74 million, a price-to-earnings ratio of -2.45 and a beta of 0.51. The business’s 50-day simple moving average is $2.50 and its 200-day simple moving average is $3.49.

Institutional Investors Weigh In On Gritstone bio

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. increased its stake in 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 acquiring an additional 101,960 shares during the last quarter. Vanguard Group Inc. increased its stake in 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 acquiring an additional 23,437 shares during the last quarter. Wellington Management Group LLP increased its stake in Gritstone bio by 20.1% during the first quarter. Wellington Management Group LLP now owns 236,880 shares of the company’s stock worth $976,000 after acquiring an additional 39,640 shares during the last quarter. Graham Capital Management L.P. acquired a new stake in Gritstone bio during the first quarter worth $855,000. Finally, Captrust Financial Advisors increased its stake in Gritstone bio by 36.4% during the first quarter. Captrust Financial Advisors now owns 109,800 shares of the company’s stock worth $452,000 after acquiring an additional 29,300 shares during the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.

Wall Street Analyst Weigh In

Separately, HC Wainwright cut their price target on Gritstone bio from $15.00 to $12.00 in a report on Monday, May 9th.

About Gritstone bio

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Gritstone bio, Inc, a clinical-stage biotechnology company, engages in developing immunotherapies against multiple cancer types and infectious diseases. Its lead product candidate is GRANITE, a neoantigen-based immunotherapy for the treatment of solid tumors, including metastatic non-small cell lung cancer, as well as gastroesophageal, bladder and microsatellite stable, and colorectal cancers.

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Earnings History for Gritstone bio (NASDAQ:GRTS)

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