Analysts Set Gritstone Oncology Inc (NASDAQ:GRTS) Target Price at $21.33

Gritstone Oncology Inc (NASDAQ:GRTS) has received a consensus rating of “Buy” from the ten research firms that are covering the firm, Marketbeat reports. Two analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $21.33.

A number of research analysts have weighed in on GRTS shares. Cowen reaffirmed a “buy” rating on shares of Gritstone Oncology in a research report on Monday, May 13th. Robert W. Baird started coverage on shares of Gritstone Oncology in a research report on Thursday, July 25th. They set an “outperform” rating and a $17.00 price target on the stock. Zacks Investment Research cut shares of Gritstone Oncology from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Finally, ValuEngine raised shares of Gritstone Oncology from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st.

Shares of GRTS traded up $0.17 during mid-day trading on Thursday, hitting $9.77. The company had a trading volume of 344,688 shares, compared to its average volume of 127,187. The business’s 50-day simple moving average is $9.94 and its 200-day simple moving average is $11.14. The company has a quick ratio of 10.22, a current ratio of 10.22 and a debt-to-equity ratio of 0.09. Gritstone Oncology has a 1-year low of $8.75 and a 1-year high of $32.90. The stock has a market cap of $343.43 million and a PE ratio of -1.35.

Gritstone Oncology (NASDAQ:GRTS) last released its earnings results on Monday, August 12th. The company reported ($0.63) earnings per share (EPS) 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 analyst estimates of $1.20 million. Gritstone Oncology had a negative return on equity of 83.79% and a negative net margin of 2,038.71%. On average, sell-side analysts expect that Gritstone Oncology will post -2.6 earnings per share for the current year.

In other Gritstone Oncology news, insider Raphael Rousseau sold 10,000 shares of Gritstone Oncology stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $10.76, for a total transaction of $107,600.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 38.00% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the business. Marshall Wace North America L.P. purchased a new stake in shares of Gritstone Oncology during the first quarter valued at approximately $84,000. Susquehanna International Group LLP purchased a new stake in shares of Gritstone Oncology during the second quarter valued at approximately $148,000. Virtus ETF Advisers LLC purchased a new stake in shares of Gritstone Oncology during the second quarter valued at approximately $302,000. Stanley Laman Group Ltd. bought a new stake in shares of Gritstone Oncology in the second quarter worth $313,000. Finally, Deutsche Bank AG bought a new stake in shares of Gritstone Oncology in the fourth quarter worth $448,000. 71.07% of the stock is currently owned by hedge funds and other institutional investors.

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.

Further Reading: Market Capitalization in the Stock Market

Analyst Recommendations for Gritstone Oncology (NASDAQ:GRTS)

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