Gritstone bio (NASDAQ:GRTS) Downgraded by JMP Securities

JMP Securities downgraded shares of Gritstone bio (NASDAQ:GRTS - Free Report) from an outperform rating to a market perform rating in a research note released on Tuesday, Marketbeat reports.

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

Gritstone bio Stock Performance

Shares of NASDAQ GRTS traded down $0.36 during trading on Tuesday, reaching $0.22. 31,934,579 shares of the company traded hands, compared to its average volume of 2,216,064. The firm's fifty day simple moving average is $0.54 and its 200 day simple moving average is $0.85. The stock has a market cap of $23.87 million, a P/E ratio of -0.18 and a beta of 0.47. Gritstone bio has a 12-month low of $0.21 and a 12-month high of $3.33. The company has a current ratio of 2.54, a quick ratio of 2.54 and a debt-to-equity ratio of 1.83.

Gritstone bio (NASDAQ:GRTS - Get Free Report) last announced its quarterly earnings results on Tuesday, August 13th. The company reported ($0.16) earnings per share 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 firm had revenue of $0.92 million during the quarter, compared to analyst estimates of $2.77 million. As a group, research analysts anticipate that Gritstone bio will post -0.88 earnings per share for the current fiscal year.

Institutional Trading of Gritstone bio

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Tidal Investments LLC purchased a new stake in Gritstone bio in the first quarter valued at approximately $63,000. Susquehanna Fundamental Investments LLC purchased a new stake in Gritstone bio in the first quarter valued at approximately $636,000. Vanguard Group Inc. raised its position in Gritstone bio by 7.2% in the first quarter. Vanguard Group Inc. now owns 4,733,791 shares of the company's stock valued at $12,166,000 after purchasing an additional 317,499 shares during the period. Victory Capital Management Inc. raised its position in Gritstone bio by 4,598.5% in the second quarter. Victory Capital Management Inc. now owns 553,150 shares of the company's stock valued at $342,000 after purchasing an additional 541,377 shares during the period. Finally, Lazard Asset Management LLC purchased a new stake in shares of Gritstone bio during the first quarter worth $70,000. Hedge funds and other 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.