Gritstone Bio shares are trading lower after B. Riley Securities downgraded the stock from Buy to Neutral and cut its price target from $3 to $1. Also, Jones Trading downgraded the stock from Buy to Hold.
Portfolio Pulse from Benzinga Newsdesk
Gritstone Bio's stock is experiencing a decline following downgrades from B. Riley Securities and Jones Trading. B. Riley reduced its rating from Buy to Neutral and slashed the price target from $3 to $1, while Jones Trading downgraded from Buy to Hold.
October 02, 2024 | 1:41 pm
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Gritstone Bio's stock is under pressure due to downgrades from B. Riley Securities and Jones Trading. B. Riley cut its rating to Neutral and reduced the price target significantly, while Jones Trading moved from Buy to Hold.
The downgrades from two financial institutions indicate a lack of confidence in Gritstone Bio's short-term performance. B. Riley's significant price target reduction from $3 to $1 suggests a bearish outlook, likely leading to a negative impact on the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100