Gritstone bio (NASDAQ:GRTS) Lowered to Market Perform at JMP Securities

JMP Securities lowered shares of Gritstone bio (NASDAQ:GRTS) from an outperform rating to a market perform rating in a research report report published on Tuesday, MarketBeat Ratings reports.

Separately, HC Wainwright reiterated a buy rating and issued a $4.00 price target on shares of Gritstone bio in a research note on Thursday, August 15th.

Gritstone bio Price Performance

NASDAQ:GRTS opened at $0.20 on Tuesday. The business’s 50-day simple moving average is $0.52 and its two-hundred day simple moving average is $0.83. Gritstone bio has a 52 week low of $0.18 and a 52 week high of $3.33. The stock has a market cap of $21.71 million, a PE ratio of -0.16 and a beta of 0.47. The company has a quick ratio of 2.54, a current ratio of 2.54 and a debt-to-equity ratio of 1.83.

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

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Point72 DIFC Ltd bought a new stake in shares of Gritstone bio in the 2nd quarter worth about $29,000. Tidal Investments LLC purchased a new stake in Gritstone bio in the 1st quarter valued at about $63,000. Lazard Asset Management LLC bought a new position in Gritstone bio in the first quarter worth approximately $70,000. Klingman & Associates LLC purchased a new position in shares of Gritstone bio during the first quarter valued at $89,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Gritstone bio during the second quarter valued at $96,000. 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.