Gritstone Oncology Inc (NASDAQ:GRTS) Stake Increased by Redmile Group LLC

Redmile Group LLC lifted its holdings in Gritstone Oncology Inc (NASDAQ:GRTS) by 3.7% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 2,353,735 shares of the company’s stock after acquiring an additional 84,599 shares during the quarter. Redmile Group LLC owned about 0.07% of Gritstone Oncology worth $31,305,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Marshall Wace North America L.P. bought a new stake in Gritstone Oncology during the 1st quarter valued at about $84,000. Marshall Wace LLP bought a new stake in shares of Gritstone Oncology in the first quarter worth approximately $1,436,000. Victory Capital Management Inc. grew its stake in shares of Gritstone Oncology by 265.1% in the first quarter. Victory Capital Management Inc. now owns 270,840 shares of the company’s stock worth $3,602,000 after acquiring an additional 196,650 shares during the period. Deutsche Bank AG bought a new stake in shares of Gritstone Oncology in the fourth quarter worth approximately $448,000. Finally, FMR LLC grew its stake in shares of Gritstone Oncology by 76.0% in the fourth quarter. FMR LLC now owns 2,903,830 shares of the company’s stock worth $44,864,000 after acquiring an additional 1,253,830 shares during the period. 48.83% of the stock is owned by institutional investors and hedge funds.

GRTS opened at $9.83 on Monday. The company has a current ratio of 9.57, a quick ratio of 9.57 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $351.12 million and a P/E ratio of -1.35. Gritstone Oncology Inc has a 12-month low of $8.75 and a 12-month high of $32.90.

Gritstone Oncology (NASDAQ:GRTS) last posted its quarterly earnings data on Monday, May 13th. The company reported ($0.62) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.65) by $0.03. The business had revenue of $1.35 million during the quarter, compared to analysts’ expectations of $1.20 million. On average, equities research analysts predict that Gritstone Oncology Inc will post -2.39 earnings per share for the current year.

GRTS has been the subject of a number of research analyst reports. Raymond James initiated coverage on shares of Gritstone Oncology in a research note on Thursday, March 14th. They issued an “outperform” rating and a $20.00 price target for the company. HC Wainwright initiated coverage on shares of Gritstone Oncology in a research note on Thursday, March 7th. They issued a “buy” rating and a $17.00 price target for the company. Berenberg Bank initiated coverage on shares of Gritstone Oncology in a research note on Wednesday, March 27th. They issued a “buy” rating for the company. Cowen reiterated a “buy” rating on shares of Gritstone Oncology in a research note on Monday, May 13th. Finally, Zacks Investment Research upgraded shares of Gritstone Oncology from a “sell” rating to a “hold” rating and set a $12.00 price target for the company in a research note on Tuesday, May 14th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $20.50.

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Gritstone Oncology Company Profile

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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Institutional Ownership by Quarter for Gritstone Oncology (NASDAQ:GRTS)

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