Graybug Vision Inc. [GRAY] Stock trading around $7.20 per share: What’s Next?

Graybug Vision Inc. [NASDAQ: GRAY] stock went on a downward path that fall over -51.19% on Tuesday, amounting to a one-week price decrease of less than -61.39%. The company report on March 9, 2021 that Graybug Vision Reports Preliminary Topline Results from Phase 2b ALTISSIMO Trial.

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Median time to first supportive therapy was 5 months for GB-102 1mg.

48% of patients in the GB-102 1 mg arm were rescue-free for at least 6 months.

The average equity rating for GRAY stock is currently 1.60, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $154.58 million, with 20.98 million shares outstanding and 19.84 million shares in the current float. Compared to the average trading volume of 82.29K shares, GRAY stock reached a trading volume of 4081249 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Graybug Vision Inc. [GRAY]:

Piper Sandler have made an estimate for Graybug Vision Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on March 09, 2021. While these analysts kept the previous recommendation, Cantor Fitzgerald raised their target price to Overweight. The new note on the price target was released on December 22, 2020, representing the official price target for Graybug Vision Inc. stock. Previously, the target price had yet another raise to $41, while Wedbush analysts kept a Outperform rating on GRAY stock.

The Average True Range (ATR) for Graybug Vision Inc. is set at 2.28 The Price to Book ratio for the last quarter was 1.67, with the Price to Cash per share for the same quarter was set at 4.42.

GRAY Stock Performance Analysis:

Graybug Vision Inc. [GRAY] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -61.39.

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 GRAY stock in for the last two-week period is set at 12.14, with the RSI for the last a single of trading hit 4.88, and the three-weeks RSI is set at 20.19 for Graybug Vision Inc. [GRAY]. The present Moving Average for the last 50 days of trading for this stock 26.59, while it was recorded at 14.39 for the last single week of trading.

Insight into Graybug Vision Inc. Fundamentals:

Graybug Vision Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 12.30 and a Current Ratio set at 12.30.

Graybug Vision Inc. [GRAY] Insider Position Details

There are presently around $109 million, or 83.20% of GRAY stock, in the hands of institutional investors. The top three institutional holders of GRAY stocks are: DEERFIELD MANAGEMENT COMPANY, L.P. (SERIES C) with ownership of 5,281,713, which is approximately 0% of the company’s market cap and around 5.43% of the total institutional ownership; ORBIMED ADVISORS LLC, holding 4,475,847 shares of the stock with an approximate value of $32.23 million in GRAY stocks shares; and FMR LLC, currently with $17.3 million in GRAY stock with ownership of nearly 52.324% of the company’s market capitalization.

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Positions in Graybug Vision Inc. stocks held by institutional investors increased at the end of March and at the time of the March reporting period, where 27 institutional holders increased their position in Graybug Vision Inc. [NASDAQ:GRAY] by around 1,548,584 shares. Additionally, 13 investors decreased positions by around 1,285,061 shares, while 5 investors held positions by with 12,248,068 shares. The mentioned changes placed institutional holdings at 15,081,713 shares, according to the latest SEC report filing. GRAY stock had 23 new institutional investments in for a total of 427,687 shares, while 12 institutional investors sold positions of 1,238,522 shares during the same period.

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