Graybug Vision Inc. [GRAY] stock Downgrade by Wedbush analyst, price target now $8

Graybug Vision Inc. [NASDAQ: GRAY] gained 6.15% or 0.34 points to close at $5.87 with a heavy trading volume of 23912735 shares. The company report on May 12, 2021 that Graybug Vision Announces First Quarter 2021 Financial Results and Recent Corporate Developments.

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Graybug Vision, Inc. (Nasdaq: GRAY), a clinical-stage biopharmaceutical company focused on developing transformative medicines for the treatment of diseases of the retina and optic nerve, provided an update on recent corporate developments and reported financial results for the quarter ended March 31, 2021.

Recent Corporate Developments.

It opened the trading session at $6.57, the shares rose to $6.97 and dropped to $5.00, the range by which the price of stock traded the whole day. The daily chart for GRAY points out that the company has recorded -72.03% loss over the past six months. However, it is still -71.14% lower than its most recent low trading price.

If we look at the average trading volume of 1.19M shares, GRAY reached to a volume of 23912735 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 Graybug Vision Inc. [GRAY]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for GRAY shares is $4.75 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on GRAY stock is a recommendation set at 2.80. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Wedbush have made an estimate for Graybug Vision Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on March 10, 2021. While these analysts kept the previous recommendation, Piper Sandler dropped their target price from $27 to $10. The new note on the price target was released on March 09, 2021, representing the official price target for Graybug Vision Inc. stock. Previously, the target price had yet another raise to $42, while Cantor Fitzgerald analysts kept a Overweight rating on GRAY stock.

The Average True Range (ATR) for Graybug Vision Inc. is set at 0.61 The Price to Book ratio for the last quarter was 1.46, with the Price to Cash per share for the same quarter was set at 4.32.

Trading performance analysis for GRAY stock

Graybug Vision Inc. [GRAY] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 39.10. With this latest performance, GRAY shares gained by 42.82% in over the last four-week period, additionally sinking by -72.03% over the last 6 months.

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 68.56, with the RSI for the last a single of trading hit 77.92, and the three-weeks RSI is set at 56.92 for Graybug Vision Inc. [GRAY]. The present Moving Average for the last 50 days of trading for this stock 4.53, while it was recorded at 5.01 for the last single week of trading.

Graybug Vision Inc. [GRAY]: A deeper dive into fundamental analysis

Return on Total Capital for GRAY is now -48.43, given the latest momentum, and Return on Invested Capital for the company is -44.69.

Reflecting on the efficiency of the workforce at the company, Graybug Vision Inc. [GRAY] managed to generate an average of -$888,097 per employee.Graybug Vision Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 14.10 and a Current Ratio set at 14.10.

An analysis of insider ownership at Graybug Vision Inc. [GRAY]

There are presently around $77 million, or 69.90% 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 10.49% of the total institutional ownership; ORBIMED ADVISORS LLC, holding 4,163,347 shares of the stock with an approximate value of $24.44 million in GRAY stocks shares; and MORGAN STANLEY, currently with $5.45 million in GRAY stock with ownership of nearly 18596.252% 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 May and at the time of the May reporting period, where 37 institutional holders increased their position in Graybug Vision Inc. [NASDAQ:GRAY] by around 2,744,764 shares. Additionally, 14 investors decreased positions by around 4,711,934 shares, while 5 investors held positions by with 5,657,845 shares. The mentioned changes placed institutional holdings at 13,114,543 shares, according to the latest SEC report filing. GRAY stock had 23 new institutional investments in for a total of 1,474,246 shares, while 6 institutional investors sold positions of 2,009,145 shares during the same period.

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