Redmile Group LLC Sells 117,530 Shares of Gritstone bio, Inc. (NASDAQ:GRTS)

by · The Markets Daily

Redmile Group LLC reduced its holdings in shares of Gritstone bio, Inc. (NASDAQ:GRTS – Free Report) by 2.0% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,755,075 shares of the company’s stock after selling 117,530 shares during the quarter. Redmile Group LLC owned approximately 5.30% of Gritstone bio worth $14,791,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. Lazard Asset Management LLC acquired a new stake in Gritstone bio in the first quarter valued at $70,000. Klingman & Associates LLC acquired a new stake in Gritstone bio in the 1st quarter valued at about $89,000. BNP Paribas Financial Markets grew its holdings in Gritstone bio by 85.2% during the first quarter. BNP Paribas Financial Markets now owns 46,237 shares of the company’s stock worth $119,000 after purchasing an additional 21,271 shares during the period. Forum Financial Management LP increased its position in Gritstone bio by 405.6% during the fourth quarter. Forum Financial Management LP now owns 90,000 shares of the company’s stock worth $184,000 after buying an additional 72,201 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC bought a new stake in Gritstone bio in the first quarter valued at approximately $636,000. Institutional investors own 48.46% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on GRTS shares. HC Wainwright dropped their price target on Gritstone bio from $7.00 to $4.00 and set a “buy” rating on the stock in a research note on Monday, May 13th. B. Riley restated a “buy” rating and set a $3.00 target price (down previously from $6.00) on shares of Gritstone bio in a research note on Friday, May 24th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $5.00 target price on shares of Gritstone bio in a report on Friday, June 14th.

Check Out Our Latest Research Report on GRTS

Gritstone bio Trading Down 3.2 %

Shares of Gritstone bio stock traded down $0.02 during midday trading on Monday, reaching $0.63. The company had a trading volume of 881,977 shares, compared to its average volume of 2,331,243. Gritstone bio, Inc. has a fifty-two week low of $0.52 and a fifty-two week high of $3.33. The company has a debt-to-equity ratio of 2.89, a current ratio of 2.00 and a quick ratio of 2.00. The stock has a fifty day moving average price of $0.71 and a 200 day moving average price of $1.46. The firm has a market cap of $68.55 million, a PE ratio of -0.51 and a beta of 0.50.

Gritstone bio (NASDAQ:GRTS – Get Free Report) last announced its quarterly earnings results on Thursday, May 9th. The company reported ($0.34) EPS for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.04). Gritstone bio had a negative net margin of 926.13% and a negative return on equity of 232.42%. The business had revenue of $1.74 million for the quarter, compared to the consensus estimate of $5.90 million. During the same quarter last year, the firm posted ($0.30) EPS. On average, equities analysts anticipate that Gritstone bio, Inc. will post -0.99 earnings per share for the current year.

Gritstone bio Profile

(Free Report)

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.

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