Evercore ISI slashes price target on Gritstone Bio Inc [GRTS] – find out why.

Gritstone Bio Inc [NASDAQ: GRTS] loss -10.84% or -0.31 points to close at $2.55 with a heavy trading volume of 7024985 shares. The company report on January 17, 2024 at 7:00 AM that Gritstone bio to Participate in Upcoming Investor Conference.

Gritstone bio, Inc. (Nasdaq: GRTS), a clinical-stage biotechnology company working to develop the world’s most potent vaccines, today announced that management will be participating in the following investor conference:.

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B. Riley Securities’ 4th Annual Oncology Conference (Fireside Chat)Date and Time: Thursday, January 18, 2024 at 1:30pm ETPresenter: Andrew Allen, M.D., Ph.D., Co-founder, President, and Chief Executive Officer.

The daily chart for GRTS points out that the company has recorded 29.44% gains over the past six months.

If we look at the average trading volume of 1.66M shares, GRTS reached to a volume of 7024985 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 Bio Inc [GRTS]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for GRTS shares is $10.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on GRTS stock is a recommendation set at 1.00. 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.

Evercore ISI have made an estimate for Gritstone Bio Inc shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on March 31, 2023.

The Average True Range (ATR) for Gritstone Bio Inc is set at 0.26, with the Price to Sales ratio for GRTS stock in the period of the last 12 months amounting to 92.44. The Price to Book ratio for the last quarter was 3.21, with the Price to Cash per share for the same quarter was set at 0.89.

Trading performance analysis for GRTS stock

Gritstone Bio Inc [GRTS] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -7.61. With this latest performance, GRTS shares gained by 23.79% in over the last four-week period, additionally plugging by 29.44% over the last 6 months – not to mention a drop of -20.81% 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 53.24, with the RSI for the last a single of trading hit 48.12, and the three-weeks RSI is set at 55.25 for Gritstone Bio Inc [GRTS]. The present Moving Average for the last 50 days of trading for this stock 1.99, while it was recorded at 2.75 for the last single week of trading, and 2.00 for the last 200 days.

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

Gritstone Bio Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 3.88 and a Current Ratio set at 3.88.

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

With the latest financial reports released by the company, Gritstone Bio Inc posted -0.3/share EPS, while the average EPS was predicted by analysts to be reported at -0.34/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 11.80%. 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 Institutional ownership at Gritstone Bio Inc [GRTS]

The top three institutional holders of GRTS stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in GRTS stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in GRTS stock with ownership which is approximately 5.8325%.