Gritstone Oncology Inc (NASDAQ:GRTS)’s share price traded up 8.3% during mid-day trading on Friday . The stock traded as high as $9.90 and last traded at $9.79, 134,837 shares changed hands during trading. A decline of 28% from the average session volume of 186,336 shares. The stock had previously closed at $9.04.
Several equities research analysts recently issued reports on the stock. ValuEngine raised shares of Gritstone Oncology from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. Cowen reaffirmed a “buy” rating on shares of Gritstone Oncology in a research note on Monday, May 13th. Zacks Investment Research downgraded shares of Gritstone Oncology from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Finally, Robert W. Baird assumed coverage on shares of Gritstone Oncology in a research note on Thursday, July 25th. They set an “outperform” rating and a $17.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $20.00.
The company’s 50-day moving average price is $10.51 and its two-hundred day moving average price is $11.41. The company has a market cap of $330.66 million and a P/E ratio of -1.35. The company has a current ratio of 10.22, a quick ratio of 9.57 and a debt-to-equity ratio of 0.09.
Gritstone Oncology (NASDAQ:GRTS) last released its earnings results on Monday, August 12th. The company reported ($0.63) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.62) by ($0.01). The company had revenue of $1.15 million during the quarter, compared to the consensus estimate of $1.20 million. Gritstone Oncology had a negative return on equity of 83.79% and a negative net margin of 2,038.71%. As a group, analysts anticipate that Gritstone Oncology Inc will post -2.6 earnings per share for the current year.
Several large investors have recently made changes to their positions in the stock. Versant Venture Management LLC bought a new stake in shares of Gritstone Oncology during the 2nd quarter valued at about $34,567,000. FMR LLC grew its position in shares of Gritstone Oncology by 0.5% during the 1st quarter. FMR LLC now owns 2,919,381 shares of the company’s stock valued at $38,827,000 after buying an additional 15,551 shares during the last quarter. Redmile Group LLC grew its position in shares of Gritstone Oncology by 3.7% during the 1st quarter. Redmile Group LLC now owns 2,353,735 shares of the company’s stock valued at $31,305,000 after buying an additional 84,599 shares during the last quarter. BlackRock Inc. grew its position in shares of Gritstone Oncology by 263.2% during the 2nd quarter. BlackRock Inc. now owns 1,534,625 shares of the company’s stock valued at $17,096,000 after buying an additional 1,112,115 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in shares of Gritstone Oncology by 193.1% during the 2nd quarter. Vanguard Group Inc. now owns 971,371 shares of the company’s stock valued at $10,821,000 after buying an additional 639,906 shares during the last quarter. 57.66% of the stock is owned by institutional investors and hedge funds.
Gritstone Oncology Company Profile (NASDAQ:GRTS)
Gritstone Oncology Inc, an immuno-oncology company, engages in developing tumor-specific cancer immunotherapies to fight various cancer types. Its lead product candidate is GRANITE-001, which is in Phase I/II clinical trial for the treatment of solid tumors, including metastatic non-small cell lung cancer, as well as gastroesophageal, bladder and microsatellite stable, and colorectal cancers.
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