Short Interest in Gritstone bio, Inc. (NASDAQ:GRTS) Increases By 13.6%

by · The Cerbat Gem

Gritstone bio, Inc. (NASDAQ:GRTS – Get Free Report) was the recipient of a large growth in short interest in the month of September. As of September 30th, there was short interest totalling 7,530,000 shares, a growth of 13.6% from the September 15th total of 6,630,000 shares. Currently, 6.8% of the company’s stock are sold short. Based on an average trading volume of 2,090,000 shares, the days-to-cover ratio is presently 3.6 days.

Gritstone bio Stock Performance

Shares of GRTS stock traded down $0.01 during trading on Wednesday, reaching $0.06. The company had a trading volume of 72,136,855 shares, compared to its average volume of 6,364,761. The firm’s 50 day simple moving average is $0.43 and its two-hundred day simple moving average is $0.65. Gritstone bio has a one year low of $0.05 and a one year high of $3.17. The company has a debt-to-equity ratio of 1.83, a current ratio of 2.54 and a quick ratio of 2.54. The company has a market capitalization of $6.51 million, a PE ratio of -0.05 and a beta of 0.49.

Gritstone bio (NASDAQ:GRTS – Get Free Report) last released its quarterly earnings results on Tuesday, August 13th. The company reported ($0.16) EPS for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.12. The company had revenue of $0.92 million for the quarter, compared to analyst estimates of $2.77 million. Gritstone bio had a negative net margin of 910.50% and a negative return on equity of 328.51%. Sell-side analysts forecast that Gritstone bio will post -0.79 earnings per share for the current year.

Analyst Ratings Changes

GRTS has been the topic of a number of research reports. JMP Securities downgraded Gritstone bio from an “outperform” rating to a “market perform” rating in a report on Tuesday, October 1st. HC Wainwright reiterated a “neutral” rating and issued a $0.50 price objective (down previously from $4.00) on shares of Gritstone bio in a research note on Tuesday, October 1st. B. Riley reiterated a “neutral” rating and issued a $1.00 target price (down previously from $3.00) on shares of Gritstone bio in a research report on Wednesday, October 2nd. Finally, Evercore ISI raised Gritstone bio to a “strong-buy” rating in a research report on Tuesday, October 1st.

Get Our Latest Stock Report on GRTS

Institutional Investors Weigh In On Gritstone bio

Hedge funds have recently bought and sold shares of the company. Point72 DIFC Ltd acquired a new position in shares of Gritstone bio during the 2nd quarter worth about $29,000. Tidal Investments LLC acquired a new position in shares of Gritstone bio during the first quarter worth approximately $63,000. Lazard Asset Management LLC bought a new stake in shares of Gritstone bio in the first quarter valued at approximately $70,000. Klingman & Associates LLC bought a new position in Gritstone bio during the first quarter worth $89,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in Gritstone bio during the 2nd quarter valued at $96,000. 48.46% of the stock is currently owned by institutional investors.

Gritstone bio Company Profile

(Get Free Report)

Gritstone bio, Inc, a clinical-stage biotechnology company, engages in developing vaccine-based immunotherapy candidates against cancer and infectious diseases. Its primary product candidate is GRANITE, an individualized immunotherapy candidate, which is in Phase 2/3 clinical trials for the treatment of microsatellite stable colorectal cancers; and has completed Phase 1/2 clinical trials for treating solid tumors.

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