Gritstone Oncology Inc (NASDAQ:GRTS) Receives $17.00 Consensus Target Price from Analysts

Shares of Gritstone Oncology Inc (NASDAQ:GRTS) have been given an average rating of “Hold” by the seven research firms that are currently covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation and five have given a buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $17.00.

Several research analysts have commented on GRTS shares. HC Wainwright reaffirmed a “buy” rating on shares of Gritstone Oncology in a research note on Thursday, March 12th. BidaskClub lowered shares of Gritstone Oncology from a “hold” rating to a “sell” rating in a research note on Friday, March 13th. Cowen reaffirmed a “buy” rating on shares of Gritstone Oncology in a research note on Wednesday, January 15th. Finally, ValuEngine lowered shares of Gritstone Oncology from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 23rd.

Large investors have recently added to or reduced their stakes in the company. Bank of Montreal Can lifted its position in shares of Gritstone Oncology by 55.0% during the fourth quarter. Bank of Montreal Can now owns 3,384 shares of the company’s stock worth $30,000 after purchasing an additional 1,201 shares during the last quarter. Citigroup Inc. lifted its position in shares of Gritstone Oncology by 491.5% during the fourth quarter. Citigroup Inc. now owns 8,541 shares of the company’s stock worth $77,000 after purchasing an additional 7,097 shares during the last quarter. Metropolitan Life Insurance Co NY bought a new stake in shares of Gritstone Oncology during the third quarter worth $84,000. ProShare Advisors LLC bought a new stake in shares of Gritstone Oncology during the fourth quarter worth $100,000. Finally, Millennium Management LLC bought a new stake in shares of Gritstone Oncology during the third quarter worth $102,000. Institutional investors and hedge funds own 76.56% of the company’s stock.

NASDAQ GRTS traded down $0.14 on Monday, hitting $6.10. 238,500 shares of the stock were exchanged, compared to its average volume of 160,441. The company has a debt-to-equity ratio of 0.16, a quick ratio of 6.73 and a current ratio of 6.73. The stock has a fifty day moving average price of $8.13 and a two-hundred day moving average price of $8.61. The firm has a market capitalization of $226.66 million, a P/E ratio of -2.19 and a beta of 1.06. Gritstone Oncology has a 52-week low of $5.44 and a 52-week high of $15.94.

Gritstone Oncology (NASDAQ:GRTS) last posted its quarterly earnings data on Wednesday, March 11th. The company reported ($0.77) EPS for the quarter, missing the consensus estimate of ($0.69) by ($0.08). The firm had revenue of $0.88 million for the quarter, compared to analysts’ expectations of $1.20 million. Gritstone Oncology had a negative return on equity of 62.40% and a negative net margin of 2,163.41%. Sell-side analysts expect that Gritstone Oncology will post -3.19 earnings per share for the current fiscal year.

About Gritstone Oncology

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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