Gritstone bio, Inc. (NASDAQ:GRTS) Expected to Post Q2 2024 Earnings of ($0.23) Per Share

Gritstone bio, Inc. (NASDAQ:GRTS) – Equities researchers at B. Riley issued their Q2 2024 earnings per share (EPS) estimates for shares of Gritstone bio in a research report issued on Tuesday, April 16th. B. Riley analyst M. Mamtani anticipates that the company will earn ($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.

A number of other equities analysts also recently issued reports on GRTS. JMP Securities increased their price target on Gritstone bio from $4.00 to $5.00 and gave the stock a “market outperform” rating in a research report on Tuesday, April 2nd. HC Wainwright reissued a “buy” rating and set a $7.00 target price on shares of Gritstone bio in a research note on Wednesday, March 6th.

Gritstone bio Price Performance

Shares of GRTS stock opened at $0.74 on Wednesday. The stock’s 50-day simple moving average is $2.02 and its 200-day simple moving average is $2.02. The company has a debt-to-equity ratio of 0.77, a quick ratio of 3.20 and a current ratio of 3.20. The firm has a market capitalization of $72.93 million, a PE ratio of -0.62 and a beta of 0.38. Gritstone bio has a fifty-two week low of $0.67 and a fifty-two week high of $3.33.

Gritstone bio (NASDAQ:GRTS) last announced its earnings results on Tuesday, March 5th. The company reported ($0.26) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.36) by $0.10. Gritstone bio had a negative return on equity of 147.22% and a negative net margin of 847.24%. The company had revenue of $10.38 million for the quarter, compared to analyst estimates of $4.80 million.

Institutional Investors Weigh In On Gritstone bio

A number of institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. boosted its holdings in Gritstone bio by 7.4% in the first quarter. JPMorgan Chase & Co. now owns 66,140 shares of the company’s stock valued at $273,000 after purchasing an additional 4,557 shares during the period. PNC Financial Services Group Inc. lifted its holdings in shares of Gritstone bio by 22,727.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 10,044 shares of the company’s stock valued at $41,000 after purchasing an additional 10,000 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of Gritstone bio by 2.7% in the 1st quarter. BlackRock Inc. now owns 3,893,393 shares of the company’s stock valued at $16,041,000 after purchasing an additional 101,960 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Gritstone bio by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 2,734,707 shares of the company’s stock valued at $11,267,000 after purchasing an additional 23,437 shares during the last quarter. Finally, Ergoteles LLC purchased a new stake in shares of Gritstone bio in the 1st quarter valued at about $128,000. 48.46% of the stock is 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.