Gritstone Bio Inc [NASDAQ: GRTS] traded at a low on Wednesday, posting a -3.31 loss after which it closed the day’ session at $0.95. The company report on April 8, 2024 at 8:00 AM that Gritstone bio to Participate in Upcoming Investor and Scientific Conferences.
23rd Annual Needham Virtual Healthcare Conference (Presentation*)Date and Time: Tuesday, April 9, 2024 at 11:00am ETLocation: Virtual.
The results of the trading session contributed to over 6717951 shares changing hands. Over the past one week, the price volatility of Gritstone Bio Inc stands at 10.14% while the volatility over the past one month is 10.15%.
The market cap for GRTS stock reached $100.69 million, with 97.59 million shares outstanding and 97.01 million shares in the current float. Compared to the average trading volume of 2.80M shares, GRTS reached a trading volume of 6717951 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus 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 $5.67 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 0.25, with the Price to Sales ratio for GRTS stock in the period of the last 12 months amounting to 75.70. The Price to Book ratio for the last quarter was 1.78, with the Price to Cash per share for the same quarter was set at 0.77.
How has GRTS stock performed recently?
Gritstone Bio Inc [GRTS] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -20.48. With this latest performance, GRTS shares dropped by -60.73% in over the last four-week period, additionally sinking by -66.68% over the last 6 months – not to mention a drop of -66.68% 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 26.73, with the RSI for the last a single of trading hit 19.95, and the three-weeks RSI is set at 31.74 for Gritstone Bio Inc [GRTS]. The present Moving Average for the last 50 days of trading for this stock 2.2056, while it was recorded at 0.9880 for the last single week of trading, and 1.9781 for the last 200 days.
Gritstone Bio Inc [GRTS]: Deeper insight into the 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 analysis for Gritstone Bio Inc [GRTS]
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.
Insider trade positions for Gritstone Bio Inc [GRTS]
The top three institutional holders of GRTS stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in GRTS stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in GRTS stock with ownership which is approximately 5.8386%.
