On March 28, 2023, B. Riley Securities initiated coverage of Gritstone Oncology with a Buy recommendation.
Analyst Price Forecast Suggests 259.88% Upside
As of March 29, 2023, the average one-year price target for Gritstone Oncology is $8.92. The forecasts range from a low of $2.02 to a high of $21.00. The average price target represents an increase of 259.88% from its latest reported closing price of $2.48.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Gritstone Oncology is $15MM, a decrease of 22.81%. The projected annual non-GAAP EPS is -$1.43.
What are Large Shareholders Doing?
Point72 Asset Management holds 7,680K shares representing 8.76% ownership of the company. In it's prior filing, the firm reported owning 0K shares, representing an increase of 100.00%.
Redmile Group holds 6,931K shares representing 7.91% ownership of the company. In it's prior filing, the firm reported owning 6,953K shares, representing a decrease of 0.31%. The firm increased its portfolio allocation in GRTS by 41.13% over the last quarter.
Frazier Life Sciences Management holds 5,162K shares representing 5.89% ownership of the company. In it's prior filing, the firm reported owning 5,237K shares, representing a decrease of 1.45%. The firm decreased its portfolio allocation in GRTS by 99.89% over the last quarter.
Versant Venture Management holds 3,561K shares representing 4.06% ownership of the company. No change in the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 2,168K shares representing 2.47% ownership of the company. No change in the last quarter.
What is the Fund Sentiment?
There are 160 funds or institutions reporting positions in Gritstone Oncology. This is a decrease of 7 owner(s) or 4.19% in the last quarter. Average portfolio weight of all funds dedicated to GRTS is 0.21%, an increase of 51.17%. Total shares owned by institutions increased in the last three months by 30.52% to 44,896K shares. The put/call ratio of GRTS is 0.04, indicating a bullish outlook.
Gritstone Bio Background Information
(This description is provided by the company.)
Gritstone Oncology, Inc., a clinical-stage biotechnology company, is developing the next generation of immunotherapies against multiple cancer types and infectious diseases. Gritstone develops its products by leveraging two key pillars-first, a proprietary machine learning-based platform, Gritstone EDGETM, which is designed to predict antigens that are presented on the surface of cells, such as tumor or virally-infected cells, that can be seen by the immune system; and, second, the ability to develop and manufacture potent immunotherapies utilizing these antigens to potentially drive the patient's immune system to specifically attack and destroy disease-causing cells. The company's lead oncology programs include an individualized neoantigen-based immunotherapy, GRANITE, and an 'off-the-shelf' shared neoantigen-based immunotherapy, SLATE, which are being evaluated in clinical studies. The company also has a bispecific antibody (BiSAb) program for solid tumors in lead optimization. Within its infectious disease pipeline, Gritstone is advancing CORAL, a COVID-19 program to develop a second-generation vaccine, with support from departments within the National Institutes of Health (NIH), the Bill & Melinda Gates Foundation, as well as a license agreement with La Jolla Institute for Immunology. Additionally, the company has a global collaboration for the development of a therapeutic HIV vaccine with Gilead Sciences.
This story originally appeared on Fintel.
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