Gritstone bio (NASDAQ:GRTS) Trading Down 7.4%

Gritstone bio, Inc. (NASDAQ:GRTS) shares dropped 7.4% during mid-day trading on Monday . The stock traded as low as $0.57 and last traded at $0.58. Approximately 1,157,263 shares traded hands during trading, a decline of 44% from the average daily volume of 2,053,458 shares. The stock had previously closed at $0.63.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on GRTS shares. HC Wainwright reaffirmed a “buy” rating and issued a $4.00 price target on shares of Gritstone bio in a report on Thursday, August 15th. JMP Securities reaffirmed a “market outperform” rating and issued a $5.00 target price on shares of Gritstone bio in a research report on Monday, August 5th.

Gritstone bio Price Performance

The company has a current ratio of 2.54, a quick ratio of 2.54 and a debt-to-equity ratio of 1.83. The stock has a market capitalization of $63.08 million, a price-to-earnings ratio of -0.47 and a beta of 0.47. The stock has a fifty day moving average of $0.55 and a two-hundred day moving average of $0.92.

Gritstone bio (NASDAQ:GRTS) last issued its quarterly earnings results on Tuesday, August 13th. The company reported ($0.16) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.28) by $0.12. The business had revenue of $0.92 million for the quarter, compared to the consensus estimate of $2.77 million. Gritstone bio had a negative net margin of 910.50% and a negative return on equity of 328.51%. As a group, equities research analysts forecast that Gritstone bio, Inc. will post -0.88 earnings per share for the current year.

Hedge Funds Weigh In On Gritstone bio

Several hedge funds have recently added to or reduced their stakes in the company. Tidal Investments LLC acquired a new position in shares of Gritstone bio in the 1st quarter valued at $63,000. Lazard Asset Management LLC bought a new position in Gritstone bio during the first quarter worth about $70,000. Klingman & Associates LLC acquired a new position in shares of Gritstone bio during the 1st quarter worth about $89,000. BNP Paribas Financial Markets increased its stake in shares of Gritstone bio by 85.2% in the 1st quarter. BNP Paribas Financial Markets now owns 46,237 shares of the company’s stock valued at $119,000 after acquiring an additional 21,271 shares during the last quarter. Finally, Point72 DIFC Ltd acquired a new stake in shares of Gritstone bio in the 2nd quarter valued at approximately $29,000. Institutional investors own 48.46% of the company’s stock.

Gritstone bio Company Profile

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.