Gritstone Oncology (NASDAQ:GRTS) Stock Rating Upgraded by ValuEngine

Gritstone Oncology (NASDAQ:GRTS) was upgraded by investment analysts at ValuEngine from a “hold” rating to a “buy” rating in a note issued to investors on Thursday, ValuEngine reports.

Other equities analysts have also recently issued research reports about the company. Cowen reaffirmed a “buy” rating on shares of Gritstone Oncology in a report on Monday, May 13th. Robert W. Baird began coverage on Gritstone Oncology in a report on Thursday, July 25th. They issued an “outperform” rating and a $17.00 target price for the company. Finally, Zacks Investment Research cut Gritstone Oncology from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $20.00.

GRTS traded down $1.15 on Thursday, reaching $9.51. The stock had a trading volume of 138,018 shares, compared to its average volume of 124,148. Gritstone Oncology has a fifty-two week low of $8.75 and a fifty-two week high of $32.90. The firm’s 50-day moving average price is $10.68. The company has a debt-to-equity ratio of 0.13, a current ratio of 9.57 and a quick ratio of 9.57. The stock has a market cap of $375.05 million and a P/E ratio of -1.31.

Gritstone Oncology (NASDAQ:GRTS) last issued its earnings results 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 firm had revenue of $1.35 million during the quarter, compared to analyst estimates of $1.20 million. As a group, analysts predict that Gritstone Oncology will post -2.28 EPS for the current fiscal year.

Several hedge funds have recently modified their holdings of GRTS. Citigroup Inc. acquired a new stake in shares of Gritstone Oncology in the fourth quarter valued at about $28,000. American International Group Inc. acquired a new stake in shares of Gritstone Oncology in the fourth quarter valued at about $70,000. Marshall Wace North America L.P. acquired a new stake in shares of Gritstone Oncology in the first quarter valued at about $84,000. D. E. Shaw & Co. Inc. acquired a new stake in shares of Gritstone Oncology in the fourth quarter valued at about $157,000. Finally, Stanley Laman Group Ltd. acquired a new stake in shares of Gritstone Oncology in the second quarter valued at about $313,000. 57.52% of the stock is owned by 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.

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Analyst Recommendations for Gritstone Oncology (NASDAQ:GRTS)

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