Gritstone Oncology Inc (NASDAQ:GRTS) was the recipient of a large growth in short interest in the month of October. As of October 31st, there was short interest totalling 3,120,000 shares, a growth of 9.5% from the September 30th total of 2,850,000 shares. Based on an average daily trading volume, of 120,200 shares, the days-to-cover ratio is currently 26.0 days. Approximately 16.1% of the shares of the company are short sold.
Shares of NASDAQ:GRTS traded up $0.20 on Friday, hitting $7.34. The stock had a trading volume of 73,100 shares, compared to its average volume of 101,468. The company has a debt-to-equity ratio of 0.12, a quick ratio of 10.22 and a current ratio of 6.76. Gritstone Oncology has a twelve month low of $7.00 and a twelve month high of $32.90. The company has a market capitalization of $255.66 million, a price-to-earnings ratio of -1.01 and a beta of 1.13. The firm’s 50 day moving average price is $8.10 and its 200-day moving average price is $9.72.
Gritstone Oncology (NASDAQ:GRTS) last released its earnings results on Tuesday, November 12th. The company reported ($0.77) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.11). Gritstone Oncology had a negative net margin of 1,838.71% and a negative return on equity of 54.23%. The business had revenue of $0.98 million for the quarter, compared to analyst estimates of $1.20 million. As a group, sell-side analysts predict that Gritstone Oncology will post -2.69 EPS for the current year.
Institutional investors have recently added to or reduced their stakes in the business. Susquehanna International Group LLP acquired a new position in Gritstone Oncology during the 2nd quarter valued at about $148,000. Virtus ETF Advisers LLC bought a new stake in shares of Gritstone Oncology in the 2nd quarter valued at about $302,000. Rhumbline Advisers increased its stake in shares of Gritstone Oncology by 11.0% in the 3rd quarter. Rhumbline Advisers now owns 28,053 shares of the company’s stock valued at $242,000 after acquiring an additional 2,774 shares during the last quarter. Stanley Laman Group Ltd. bought a new stake in shares of Gritstone Oncology in the 2nd quarter valued at about $313,000. Finally, Wells Fargo & Company MN increased its stake in shares of Gritstone Oncology by 366.9% in the 2nd quarter. Wells Fargo & Company MN now owns 33,971 shares of the company’s stock valued at $379,000 after acquiring an additional 26,695 shares during the last quarter. Institutional investors own 77.82% of the company’s stock.
Several equities research analysts have issued reports on the stock. ValuEngine raised shares of Gritstone Oncology from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. Zacks Investment Research lowered shares of Gritstone Oncology from a “hold” rating to a “sell” rating in a report on Tuesday, October 15th. Finally, Robert W. Baird assumed coverage on shares of Gritstone Oncology in a report on Thursday, July 25th. They issued an “outperform” rating and a $17.00 price target on the stock. One analyst has rated the stock with a sell rating and seven have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $19.40.
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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