Equities researchers at B. Riley assumed coverage on shares of Gritstone bio (NASDAQ:GRTS – Get Rating) in a note issued to investors on Tuesday, The Fly reports. The brokerage set a “buy” rating and a $8.00 price target on the stock. B. Riley’s price target would indicate a potential upside of 222.58% from the company’s previous close.
Separately, HC Wainwright restated a “buy” rating and issued a $7.00 target price on shares of Gritstone bio in a report on Tuesday, March 14th.
Gritstone bio Price Performance
Shares of NASDAQ:GRTS opened at $2.48 on Tuesday. Gritstone bio has a one year low of $1.71 and a one year high of $5.85. The stock has a fifty day moving average of $2.74 and a 200-day moving average of $2.91. The company has a market capitalization of $217.40 million, a PE ratio of -1.86 and a beta of 0.52. The company has a debt-to-equity ratio of 0.11, a quick ratio of 5.25 and a current ratio of 5.26.
Gritstone bio (NASDAQ:GRTS – Get Rating) last announced its quarterly earnings data on Thursday, March 9th. The company reported ($0.30) EPS for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.01. Gritstone bio had a negative return on equity of 72.52% and a negative net margin of 600.09%. The company had revenue of $4.26 million during the quarter, compared to the consensus estimate of $3.08 million. As a group, equities analysts anticipate that Gritstone bio will post -1.26 EPS for the current fiscal year.
Institutional Trading of Gritstone bio
A number of hedge funds have recently modified their holdings of GRTS. JPMorgan Chase & Co. lifted its holdings in shares of 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 in the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of Gritstone bio by 22,727.3% in the first 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 in the last quarter. BlackRock Inc. increased its stake in shares of Gritstone bio by 2.7% in 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 shares of Gritstone bio by 0.9% in 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. Finally, Ergoteles LLC acquired a new position in shares of Gritstone bio in the first quarter worth $128,000. Hedge funds and other institutional investors own 48.06% of the company’s stock.
Gritstone bio Company Profile
Gritstone bio, Inc clinical-stage biotechnology company, which engages in developing the next generation of cancer immunotherapies to fight multiple cancer types. The company was founded by Andrew Allen, Timothy Chan, Mark Cobbold, Graham Lord, Naiyer Rizvi and Jean-Charles Soria in August 2015 and is headquartered in Emeryville, CA.