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

Gritstone bio, Inc. (NASDAQ:GRTS) – B. Riley issued their Q2 2024 earnings estimates for shares of Gritstone bio in a research report issued on Tuesday, April 16th. B. Riley analyst M. Mamtani expects 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.

Gritstone bio (NASDAQ:GRTS) last released its quarterly earnings data on Tuesday, March 5th. The company reported ($0.26) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.10. The business had revenue of $10.38 million during the quarter, compared to analysts’ expectations of $4.80 million. Gritstone bio had a negative net margin of 847.24% and a negative return on equity of 147.22%.

A number of other equities analysts have also recently issued reports on GRTS. JMP Securities upped their price objective on shares of 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 report on Wednesday, March 6th.

Gritstone bio Price Performance

GRTS stock opened at $0.74 on Wednesday. The company has a 50 day simple moving average of $2.02 and a 200 day simple moving average of $2.02. The stock has a market cap of $72.93 million, a price-to-earnings ratio of -0.62 and a beta of 0.38. Gritstone bio has a 1 year low of $0.67 and a 1 year high of $3.33. The company has a debt-to-equity ratio of 0.77, a current ratio of 3.20 and a quick ratio of 3.20.

Institutional Trading of Gritstone bio

Large investors have recently bought and sold shares of the business. PNC Financial Services Group Inc. grew its holdings in Gritstone bio by 22,727.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 10,044 shares of the company’s stock worth $41,000 after acquiring an additional 10,000 shares during the period. Point72 Hong Kong Ltd acquired a new stake in shares of Gritstone bio in the 1st quarter valued at about $42,000. American Century Companies Inc. acquired a new stake in shares of Gritstone bio in the 4th quarter valued at about $36,000. Tower Research Capital LLC TRC grew its stake in shares of Gritstone bio by 134.0% in the 3rd quarter. Tower Research Capital LLC TRC now owns 12,325 shares of the company’s stock valued at $31,000 after buying an additional 7,059 shares during the period. Finally, Shay Capital LLC acquired a new stake in shares of Gritstone bio in the 4th quarter valued at about $43,000. 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.