Gritstone Oncology Inc. [NASDAQ: GRTS] price plunged by -3.67 percent to reach at -$0.15. The company report on December 28, 2020 that Gritstone Oncology Announces Private Placement Financings Totaling $125 Million.
–Received Gross Proceeds of $110 Million from Previously Announced PIPE Financing—-Executed Additional PIPE Financing of $15 Million–.
Gritstone Oncology, Inc. (Nasdaq: GRTS), a clinical-stage biotechnology company developing the next generation of cancer immunotherapies to fight multiple cancer types, announced the closing of the previously announced $110 million private investment in public equity (PIPE) financing, as well as a newly executed PIPE financing for an additional $15 million in gross proceeds resulting from the sale of shares of its common stock at a price per share of $3.71. Gross proceeds from the two PIPE financings total $125 million, before deducting placement agent fees and offering expenses. The PIPE financings are supported by a consortium of high quality new and existing institutional investors with expertise in health care, including Redmile Group, Avidity Partners, EcoR1 Capital, BVF Partners L.P. and Versant Ventures.
A sum of 330080 shares traded at recent session while its average daily volume was at 317.24K shares. Gritstone Oncology Inc. shares reached a high of $4.14 and dropped to a low of $3.85 until finishing in the latest session at $3.94.
Guru’s Opinion on 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 0.32, with the Price to Sales ratio for GRTS stock in the period of the last 12 months amounting to 42.91. The Price to Book ratio for the last quarter was 2.06, with the Price to Cash per share for the same quarter was set at 1.80.
GRTS Stock Performance Analysis:
Gritstone Oncology Inc. [GRTS] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -5.29. With this latest performance, GRTS shares gained by 31.33% in over the last four-week period, additionally sinking by -40.12% over the last 6 months – not to mention a drop of -51.54% 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 62.83, with the RSI for the last a single of trading hit 62.53, and the three-weeks RSI is set at 61.87 for Gritstone Oncology Inc. [GRTS]. The present Moving Average for the last 50 days of trading for this stock 3.06, while it was recorded at 3.95 for the last single week of trading, and 4.54 for the last 200 days.
Insight into Gritstone Oncology Inc. Fundamentals:
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.
GRTS Stock EPS
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.
Gritstone Oncology Inc. [GRTS] Insider Position Details
There are presently around $88 million, or 60.40% 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 $12.06 million in GRTS stocks shares; and BLACKSTONE GROUP INC, currently with $10.12 million in GRTS stock with ownership of nearly 0% of the company’s market capitalization.
Positions in Gritstone Oncology Inc. stocks held by institutional investors increased at the end of March and at the time of the March reporting period, where 29 institutional holders increased their position in Gritstone Oncology Inc. [NASDAQ:GRTS] by around 1,180,586 shares. Additionally, 53 investors decreased positions by around 7,181,949 shares, while 12 investors held positions by with 13,908,892 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 26 institutional investors sold positions of 3,767,375 shares during the same period.