Gritstone bio, Inc. Expected to Post Q3 2024 Earnings of ($0.14) Per Share (NASDAQ:GRTS)

Gritstone bio, Inc. (NASDAQ:GRTS) – Stock analysts at B. Riley raised their Q3 2024 earnings per share (EPS) estimates for Gritstone bio in a research report issued to clients and investors on Tuesday, October 1st. B. Riley analyst M. Mamtani now expects that the company will post earnings per share of ($0.14) for the quarter, up from their previous forecast of ($0.23). B. Riley currently has a “Hold” rating on the stock. The consensus estimate for Gritstone bio’s current full-year earnings is ($0.88) per share. B. Riley also issued estimates for Gritstone bio’s Q4 2024 earnings at ($0.06) EPS, FY2024 earnings at ($0.62) EPS, FY2025 earnings at ($0.35) EPS and FY2026 earnings at ($0.32) EPS.

Gritstone bio (NASDAQ:GRTS) last announced its quarterly earnings data 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. Gritstone bio had a negative return on equity of 328.51% and a negative net margin of 910.50%. The firm had revenue of $0.92 million during the quarter, compared to analysts’ expectations of $2.77 million.

Several other research analysts have also recently weighed in on GRTS. HC Wainwright reiterated a “neutral” rating and set a $0.50 price target (down from $4.00) on shares of Gritstone bio in a research report on Tuesday, October 1st. Evercore ISI upgraded Gritstone bio to a “strong-buy” rating in a research report on Tuesday, October 1st. Finally, JMP Securities cut Gritstone bio from an “outperform” rating to a “market perform” rating in a research report on Tuesday, October 1st.

Gritstone bio Trading Down 5.0 %

Shares of NASDAQ:GRTS opened at $0.19 on Friday. 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 $20.63 million, a price-to-earnings ratio of -0.15 and a beta of 0.49. The company has a quick ratio of 2.54, a current ratio of 2.54 and a debt-to-equity ratio of 1.83. The business has a 50-day moving average price of $0.50 and a 200-day moving average price of $0.81.

Institutional Trading of Gritstone bio

Institutional investors and hedge funds have recently made changes to their positions in the business. Tidal Investments LLC purchased a new stake in shares of Gritstone bio in the first quarter valued at approximately $63,000. Lazard Asset Management LLC purchased a new stake in shares of Gritstone bio in the first quarter valued at approximately $70,000. Klingman & Associates LLC purchased a new stake in shares of Gritstone bio in the first quarter valued at approximately $89,000. BNP Paribas Financial Markets increased its position in shares of Gritstone bio by 85.2% in the first quarter. BNP Paribas Financial Markets now owns 46,237 shares of the company’s stock valued at $119,000 after buying an additional 21,271 shares in the last quarter. Finally, Point72 DIFC Ltd purchased a new stake in shares of Gritstone bio in the second quarter valued at approximately $29,000. 48.46% of the stock is currently owned by hedge funds and other institutional investors.

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.