Gritstone Bio Inc [NASDAQ: GRTS] surged by $0.41 during the normal trading session on while it closed the day at $2.59. The company report on March 5, 2024 at 4:05 PM that Gritstone bio Reports Fourth Quarter and Full Year 2023 Financial Results and Provides Corporate Updates.
— Preliminary data from Phase 2 portion of Phase 2/3 study evaluating GRANITE, Gritstone’s personalized cancer vaccine in front-line metastatic, microsatellite-stable colorectal cancer (MSS-CRC) remain expected in 1Q 2024 –.
— National Cancer Institute-led Phase 1 study evaluating Gritstone’s “off-the-shelf” cancer vaccine, SLATE, combined with neoantigen cell therapy expected to begin in the coming months –.
Gritstone Bio Inc stock has also loss -7.50% of its value over the past 7 days. However, GRTS stock has inclined by 68.18% in the 3 months of the year. Over the past six months meanwhile, it has gained 51.46% and gained 26.96% year-on date.
The market cap for GRTS stock reached $254.00 million, with 97.59 million shares outstanding and 89.41 million shares in the current float. Compared to the average trading volume of 2.05M shares, GRTS reached a trading volume of 2664045 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say 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 $9.00 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.
JMP Securities have made an estimate for Gritstone Bio Inc shares, keeping their opinion on the stock as Mkt Outperform, with their previous recommendation back on February 28, 2024. While these analysts kept the previous recommendation, Evercore ISI raised their target price to Outperform. The new note on the price target was released on March 31, 2023, representing the official price target for Gritstone Bio Inc stock. Previously, the target price had yet another raise to $8, while B. Riley Securities analysts kept a Buy rating on GRTS stock.
The Average True Range (ATR) for Gritstone Bio Inc is set at 0.27, with the Price to Sales ratio for GRTS stock in the period of the last 12 months amounting to 190.98. The Price to Book ratio for the last quarter was 4.87, with the Price to Cash per share for the same quarter was set at 0.83.
GRTS stock trade performance evaluation
Gritstone Bio Inc [GRTS] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -7.50. With this latest performance, GRTS shares gained by 14.60% in over the last four-week period, additionally plugging by 51.46% over the last 6 months – not to mention a rise of 10.68% 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 56.24, with the RSI for the last a single of trading hit 58.68, and the three-weeks RSI is set at 55.15 for Gritstone Bio Inc [GRTS]. The present Moving Average for the last 50 days of trading for this stock 2.37, while it was recorded at 2.19 for the last single week of trading, and 1.98 for the last 200 days.
Gritstone Bio Inc [GRTS]: An insightful look at the core fundamentals
Gritstone Bio Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 3.20 and a Current Ratio set at 3.20.
Earnings per share (EPS) analysis for Gritstone Bio Inc [GRTS] stock
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 -0.33/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 9.10%. 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 Bio Inc [GRTS]: Institutional Ownership
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%.
