Gritstone bio (NASDAQ:GRTS) Shares Up 11%


Gritstone bio, Inc. (NASDAQ:GRTS)’s stock price shot up 11% during mid-day trading on Thursday . The company traded as high as $10.64 and last traded at $10.60. 16,736 shares traded hands during mid-day trading, a decline of 99% from the average session volume of 1,641,213 shares. The stock had previously closed at $9.55.

Several research analysts recently weighed in on GRTS shares. Zacks Investment Research upgraded Gritstone bio from a “hold” rating to a “buy” rating and set a $8.00 target price on the stock in a research note on Wednesday, August 11th. HC Wainwright restated a “buy” rating and set a $24.00 target price on shares of Gritstone bio in a research note on Tuesday, August 10th.


Get Gritstone bio alerts:

The company has a 50 day moving average of $8.17 and a two-hundred day moving average of $9.80. The stock has a market capitalization of $542.44 million, a PE ratio of -6.81 and a beta of 0.10.

Gritstone bio (NASDAQ:GRTS) last posted its quarterly earnings results on Thursday, August 5th. The company reported ($0.33) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.58) by $0.25. The business had revenue of $2.84 million for the quarter, compared to the consensus estimate of $3.00 million. Gritstone bio had a negative return on equity of 45.67% and a negative net margin of 157.14%. Sell-side analysts anticipate that Gritstone bio, Inc. will post -1.01 EPS for the current fiscal year.


A number of institutional investors have recently bought and sold shares of the business. Invesco Ltd. purchased a new stake in Gritstone bio during the 2nd quarter valued at about $1,866,000. Metropolitan Life Insurance Co NY grew its stake in Gritstone bio by 133,012.5% during the 2nd quarter. Metropolitan Life Insurance Co NY now owns 10,649 shares of the company’s stock valued at $97,000 after purchasing an additional 10,641 shares during the last quarter. MetLife Investment Management LLC grew its stake in Gritstone bio by 286.6% during the 2nd quarter. MetLife Investment Management LLC now owns 16,454 shares of the company’s stock valued at $150,000 after purchasing an additional 12,198 shares during the last quarter. AQR Capital Management LLC purchased a new stake in Gritstone bio during the 2nd quarter valued at about $372,000. Finally, California State Teachers Retirement System grew its stake in Gritstone bio by 22.7% during the 2nd quarter. California State Teachers Retirement System now owns 55,675 shares of the company’s stock valued at $508,000 after purchasing an additional 10,283 shares during the last quarter. Institutional investors and hedge funds own 70.55% of the company’s stock.


Gritstone bio Company Profile (NASDAQ:GRTS)

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.

Recommended Story: What is the Beige Book?

Leave a Reply

Your email address will not be published.