Vassiliki Economides Acquires 12,000 Shares of Gritstone bio, Inc. (NASDAQ:GRTS) Stock

Gritstone bio, Inc. (NASDAQ:GRTS – Get Rating) insider Vassiliki Economides acquired 12,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 23rd. The shares were bought at an average price of $1.90 per share, with a total value of $22,800.00. Following the acquisition, the insider now directly owns 214,058 shares of the company’s stock, valued at approximately $406,710.20. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Gritstone bio Stock Down 5.7 %

Shares of GRTS stock opened at $1.66 on Friday. The firm’s 50 day moving average is $2.47 and its 200 day moving average is $2.82. Gritstone bio, Inc. has a 12 month low of $1.65 and a 12 month high of $5.85. The company has a debt-to-equity ratio of 0.21, a quick ratio of 6.27 and a current ratio of 6.27.

Gritstone bio (NASDAQ:GRTS – Get Rating) last posted its earnings results on Thursday, March 9th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.31) by $0.01. The firm had revenue of $4.26 million for the quarter, compared to the consensus estimate of $3.08 million. Gritstone bio had a negative return on equity of 81.55% and a negative net margin of 820.91%. As a group, research analysts expect that Gritstone bio, Inc. will post -1.2 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Forum Financial Management LP bought a new position in shares of Gritstone bio in the first quarter valued at approximately $28,000. PNC Financial Services Group Inc. boosted its holdings in Gritstone bio by 22,727.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 10,044 shares of the company’s stock valued at $41,000 after purchasing an additional 10,000 shares during the period. Point72 Hong Kong Ltd purchased a new position in shares of Gritstone bio during the 1st quarter valued at $42,000. American Century Companies Inc. purchased a new stake in shares of Gritstone bio in the fourth quarter worth $36,000. Finally, Integrated Wealth Concepts LLC bought a new stake in Gritstone bio during the first quarter valued at $33,000. Hedge funds and other institutional investors own 48.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on GRTS shares. Evercore ISI assumed coverage on shares of Gritstone bio in a research note on Friday, March 31st. They set an “outperform” rating for the company. B. Riley assumed coverage on Gritstone bio in a report on Tuesday, March 28th. They set a “buy” rating and a $8.00 price objective for the company. Finally, HC Wainwright restated a “buy” rating and issued a $7.00 target price on shares of Gritstone bio in a research note on Tuesday, March 14th. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $5.75.

Gritstone bio Company Profile

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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.