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

Gritstone bio, Inc. (NASDAQ:GRTS) – Research analysts at B. Riley issued their Q1 2024 earnings per share estimates for shares of Gritstone bio in a research note issued to investors on Tuesday, April 16th. B. Riley analyst M. Mamtani forecasts 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 ($0.95) 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 brokerages also recently commented on GRTS. JMP Securities upped their price objective 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 issued a $7.00 price objective on shares of Gritstone bio in a report on Wednesday, March 6th.

Gritstone bio Trading Down 1.0 %

Shares of GRTS opened at $0.74 on Thursday. The stock has a market capitalization of $72.24 million, a P/E ratio of -0.61 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 firm has a fifty day simple moving average of $1.99 and a two-hundred day simple moving average of $2.02.

Gritstone bio (NASDAQ:GRTS) last announced its quarterly earnings data 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. Gritstone bio had a negative return on equity of 147.22% and a negative net margin of 847.24%. The firm had revenue of $10.38 million during the quarter, compared to the consensus estimate of $4.80 million.

Institutional Investors Weigh In On Gritstone bio

A number of large investors have recently modified their holdings of GRTS. Point72 Asset Management L.P. purchased a new position in shares of Gritstone bio in the 4th quarter valued at approximately $26,496,000. BlackRock Inc. boosted its holdings in shares of Gritstone bio by 221.5% during the 2nd quarter. BlackRock Inc. now owns 6,213,432 shares of the company’s stock valued at $12,116,000 after buying an additional 4,280,777 shares in the last quarter. Redmile Group LLC grew its position in shares of Gritstone bio by 24.0% in the 3rd quarter. Redmile Group LLC now owns 8,509,126 shares of the company’s stock worth $14,636,000 after buying an additional 1,648,900 shares during the period. State Street Corp increased its stake in shares of Gritstone bio by 453.3% in the 2nd quarter. State Street Corp now owns 1,512,337 shares of the company’s stock worth $2,949,000 after acquiring an additional 1,239,007 shares in the last quarter. Finally, Bank of America Corp DE lifted its position in Gritstone bio by 740.9% during the 1st quarter. Bank of America Corp DE now owns 1,060,238 shares of the company’s stock valued at $2,947,000 after acquiring an additional 934,149 shares during the period. Institutional investors own 48.46% of the company’s stock.

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.