Gritstone Oncology Inc. [GRTS] Stock trading around $3.45 per share: What’s Next?

Gritstone Oncology Inc. [NASDAQ: GRTS] gained 11.65% or 0.36 points to close at $3.45 with a heavy trading volume of 1132361 shares. The company report on November 5, 2020 that Gritstone Oncology Reports Third Quarter Financial Results and Recent Highlights.

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Gritstone Oncology, Inc. (Nasdaq: GRTS), a clinical-stage biotechnology company developing the next generation of cancer immunotherapies to fight multiple cancer types, reported financial results for the third quarter ended September 30, 2020 and reviewed business highlights.

“This year we have made important clinical and scientific progress in advancing our two immunotherapies, GRANITE and SLATE,” said Andrew Allen, M.D., Ph.D., co-founder, president and chief executive officer of Gritstone Oncology. “Recently, we began enrolling cancer patients in Phase 2 expansion cohorts for both programs. These cohorts are designed to build upon the evidence of clinical benefit seen in our Phase 1 studies, and we are expanding at dose level four, the highest dose level studied in Phase 1, which continues to be well-tolerated by patients. Our clinical work has confirmed the differentiated ability of our vaccine vectors to consistently drive robust CD8 T cell responses specific to administered antigens. Our clinical work with SLATE has demonstrated that certain antigens are immunodominant and can drive focused immune responses. With our strategy to develop two versions of an off-the-shelf cassette, we can be more specific to a patient’s mutations and address this phenomenon prospectively, ensuring that dominant neoantigens are not permitted to impair immune responses to other neoantigens.”.

It opened the trading session at $3.13, the shares rose to $3.47 and dropped to $3.121, the range by which the price of stock traded the whole day. The daily chart for GRTS points out that the company has recorded -47.25% loss over the past six months. However, it is still -35.83% lower than its most recent low trading price.

If we look at the average trading volume of 252.06K shares, GRTS reached to a volume of 1132361 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Gritstone Oncology Inc. [GRTS]:

Robert W. Baird have made an estimate for Gritstone Oncology Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on July 26, 2019. The new note on the price target was released on March 15, 2019, representing the official price target for Gritstone Oncology Inc. stock. Previously, the target price had yet another raise to $17, while H.C. Wainwright analysts kept a Buy rating on GRTS stock.

The Average True Range (ATR) for Gritstone Oncology Inc. is set at 0.19, with the Price to Sales ratio for GRTS stock in the period of the last 12 months amounting to 32.42. The Price to Book ratio for the last quarter was 1.81, with the Price to Cash per share for the same quarter was set at 2.08.

Trading performance analysis for GRTS stock

Gritstone Oncology Inc. [GRTS] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 14.62. With this latest performance, GRTS shares gained by 24.55% in over the last four-week period, additionally sinking by -47.25% over the last 6 months – not to mention a drop of -54.55% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for GRTS stock in for the last two-week period is set at 68.40, with the RSI for the last a single of trading hit 75.53, and the three-weeks RSI is set at 63.32 for Gritstone Oncology Inc. [GRTS]. The present Moving Average for the last 50 days of trading for this stock 2.92, while it was recorded at 3.15 for the last single week of trading, and 4.64 for the last 200 days.

Gritstone Oncology Inc. [GRTS]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Gritstone Oncology Inc. [GRTS] shares currently have an operating margin of -2243.76. Gritstone Oncology Inc.’s Net Margin is presently recorded at -2163.41.

Return on Total Capital for GRTS is now -61.70, given the latest momentum, and Return on Invested Capital for the company is -59.97. Return on Equity for this stock declined to -66.63, with Return on Assets sitting at -50.51. When it comes to the capital structure of this company, Gritstone Oncology Inc. [GRTS] has a Total Debt to Total Equity ratio set at 17.48. Additionally, GRTS Total Debt to Total Capital is recorded at 14.88, with Total Debt to Total Assets ending up at 12.74. Long-Term Debt to Equity for the company is recorded at 15.62, with the Long-Term Debt to Total Capital now at 13.30.

Reflecting on the efficiency of the workforce at the company, Gritstone Oncology Inc. [GRTS] managed to generate an average of -$542,718 per employee. Receivables Turnover for the company is 9.25 with a Total Asset Turnover recorded at a value of 0.02.Gritstone Oncology Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 3.40 and a Current Ratio set at 3.40.

Gritstone Oncology Inc. [GRTS]: An earnings per share (EPS) analysis

With the latest financial reports released by the company, Gritstone Oncology Inc. posted -0.77/share EPS, while the average EPS was predicted by analysts to be reported at -0.69/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -11.60%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for GRTS.

An analysis of insider ownership at Gritstone Oncology Inc. [GRTS]

There are presently around $77 million, or 60.60% of GRTS stock, in the hands of institutional investors. The top three institutional holders of GRTS stocks are: VERSANT VENTURE MANAGEMENT, LLC with ownership of 3,102,929, which is approximately 0% of the company’s market cap and around 0.10% of the total institutional ownership; REDMILE GROUP, LLC, holding 3,059,794 shares of the stock with an approximate value of $10.56 million in GRTS stocks shares; and BLACKSTONE GROUP INC, currently with $8.86 million in GRTS stock with ownership of nearly 0% of the company’s market capitalization.

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Positions in Gritstone Oncology Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 29 institutional holders increased their position in Gritstone Oncology Inc. [NASDAQ:GRTS] by around 1,180,586 shares. Additionally, 54 investors decreased positions by around 7,282,556 shares, while 12 investors held positions by with 13,808,285 shares. The mentioned changes placed institutional holdings at 22,271,427 shares, according to the latest SEC report filing. GRTS stock had 13 new institutional investments in for a total of 568,241 shares, while 27 institutional investors sold positions of 3,867,982 shares during the same period.

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