Market Analysts see Graybug Vision Inc. [GRAY] falling to $8. Time to buy?


Graybug Vision Inc. [NASDAQ: GRAY] price surged by 32.98 percent to reach at $0.27. The company report on June 28, 2022 that Graybug Announces Review of Strategic Alternatives.

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Graybug Vision, Inc. (Nasdaq: GRAY), a clinical-stage biopharmaceutical company focused on developing transformative medicines for the treatment of ocular diseases, today announced that its Board of Directors will conduct a comprehensive review of strategic alternatives focused on maximizing shareholder value.

As part of this process, the Company will explore the potential for an acquisition, company sale, merger, divestiture of assets, private placement of equity securities, or other strategic transactions. As of March 31, 2022, the company’s cash, cash equivalents, and short-term investments totaled $55.3 million. Graybug has retained Piper Sandler Companies to act as its financial advisor to assist with this review process.

A sum of 15247365 shares traded at recent session while its average daily volume was at 38.80K shares. Graybug Vision Inc. shares reached a high of $1.45 and dropped to a low of $0.9302 until finishing in the latest session at $1.10.

The one-year GRAY stock forecast points to a potential upside of 64.74. The average equity rating for GRAY stock is currently 2.80, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on 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 $3.12 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 0.12 The Price to Book ratio for the last quarter was 0.42, with the Price to Cash per share for the same quarter was set at 2.53.

GRAY Stock Performance Analysis:

Graybug Vision Inc. [GRAY] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 22.24. With this latest performance, GRAY shares gained by 29.41% in over the last four-week period, additionally sinking by -40.54% over the last 6 months – not to mention a drop of -81.97% 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 GRAY stock in for the last two-week period is set at 65.70, with the RSI for the last a single of trading hit 73.05, and the three-weeks RSI is set at 60.20 for Graybug Vision Inc. [GRAY]. The present Moving Average for the last 50 days of trading for this stock 0.9286, while it was recorded at 0.8901 for the last single week of trading, and 1.8508 for the last 200 days.

Insight into Graybug Vision Inc. Fundamentals:

Return on Equity for this stock declined to -44.83, with Return on Assets sitting at -41.92.

Graybug Vision Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 13.80 and a Current Ratio set at 13.80.

Graybug Vision Inc. [GRAY] Insider Position Details

There are presently around $9 million, or 51.50% 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 0.70% of the total institutional ownership; ORBIMED ADVISORS LLC, holding 4,163,347 shares of the stock with an approximate value of $3.44 million in GRAY stocks shares; and VANGUARD GROUP INC, currently with $0.38 million in GRAY stock with ownership of nearly 5.523% of the company’s market capitalization.

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 10 institutional holders increased their position in Graybug Vision Inc. [NASDAQ:GRAY] by around 216,146 shares. Additionally, 13 investors decreased positions by around 545,589 shares, while 10 investors held positions by with 10,250,968 shares. The mentioned changes placed institutional holdings at 11,012,703 shares, according to the latest SEC report filing. GRAY stock had 4 new institutional investments in for a total of 121,214 shares, while 5 institutional investors sold positions of 252,669 shares during the same period.