Gritstone bio Inc. (GRTS): Technical Analysis Suggests You Should Hold

The stock of Gritstone bio Inc. (NASDAQ:GRTS) increased by $0.22 on Wednesday to $2.60, up 9.03 percent. The last five days have seen an average of 1,051,758 shares of common stock traded. 1 time new highs were reached in the current year, with a fall of -$10.27. The average number of shares traded over the last 20 days was 1,298,265, while the average volume over the last 50 days totaled 1,191,004.

GRTS stock appreciated 22.05% since last month. On 05/26/22, the company’s shares reached a one-month low of $1.71. The stock touched a high of $14.42 on 01/03/22, after rallying from a low of $1.71 in 52 weeks. The price of GRTS stock has declined by -81.49% or -$10.27 this year, reaching a new high 1 time. Still, the stock price is down -82.00% from the 52-week high.


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Insider Transactions

There have been 203 days since Gritstone bio Inc. (GRTS) last reported insider trading activity on Dec 01. On Dec 01, Chief Operating Officer Jones Erin sold 1,000 shares at $13.01 each. This transaction resulted in the insider making $13,010. On Nov 01, Jones Erin sold 1,000 shares at a price of US$11.14. After the transaction, the insider now owns 20,000 shares. Jones Erin had earlier sold 1,000 shares on Oct 04 for $10.71 a share. The transaction was completed for $10,710.

Valuation Metrics

The beta for the stock is 0.60. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 10.59, and the price-to-book (PB) ratio of 1.09.

Financial Health

For the three months ended March 30, Gritstone bio Inc.’s quick ratio was 5.60, while its current ratio was 5.60, indicating its ability to pay off its debt. Based on annual data, it had gross profit of $123.42 million and revenue of $48.21 million.

Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. GRTS’s return on assets (ROA) during the last 12 months has been -44.00%. There was a -34.80% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was -56.50%.

Earnings Surprise

According to Gritstone bio Inc.’s quarterly financial report for the quarter that ended March 30, it had $103.0 million in cash and short-term investments. A higher net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $7.19 million, while revenues fell by -452.02% to $3.06 million. It was predicted that Gritstone bio Inc.’s quarterly earnings would be -$0.34, but it ended up being -$0.37, beating the consensus by 8.10%. EBITDA was -$27.18 million for the quarter. At the end of Gritstone bio Inc.’s most recent quarter ended March 30, its liabilities totaled 54.28 million, while its total debt was $25.57 million. Equity owned by shareholders amounts to $72.81 million.

Technical Picture

Here’s a quick look at Gritstone bio Inc.’s (GRTS) price momentum from a technical perspective. As of 21 June, the RSI 9-day stood at 72.03%, suggesting the stock is Overbought, with a 78.27% historical volatility rate.

The stochastic %K and %D were 86.68% and 75.78% respectively, while the average true range (ATR) was 0.19. Based on the 14-day stochastic reading of 100.00%, the RSI (14) reading is 62.12%. On the 9-day MACD Oscillator, the stock is at 0.15, and the 14-day reading is at 0.18.

Analyst Ratings

Analysts have assigned Gritstone bio Inc. (GRTS) an Overweight rating. GRTS is a stock that is recommended for selling by 0 brokerage firms, while 1 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 0 rates it overweight and 3 others recommend it as a buy.

What is GRTS’s price target for the next 12 months?

The current consensus forecast for the stock is between $2.00 and $20.00, with a median target price of $12.00. In analyzing these forecasts, the average price target given by analysts for Gritstone bio Inc. (GRTS) is $11.33.

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