The stock of Gritstone bio Inc. (NASDAQ:GRTS) increased by $0.04 on Friday to finish at $1.86, up 2.20 percent. The last five days have seen an average of 512,480 shares of common stock traded. 3 times new highs were reached in the current year, with a fall of -$1.5900. The average number of shares traded over the last 20 days was 426,230, while the average volume over the last 50 days totaled 857,778.
GRTS stock dropped -17.70% since last month. On 08/07/23, the company’s shares reached a one-month low of $1.7000. The stock touched a high of $5.85 on 01/09/23, after rallying from a low of $1.64 in 52 weeks. The price of GRTS stock has declined by -46.09% or -$1.5900 this year, reaching a new high 3 times. Still, the stock price is down -68.21% from the 52-week high.
Insider Transactions
GRTS stock investors should be aware that Gritstone bio Inc. (GRTS) stock had its last reported insider trading activity 83 days ago on May 23. On May 23, Economides Vassiliki acquired 12,000 shares at $1.90 each. This transaction resulted in the insider spending $22,829.
Valuation Metrics
Beta for the stock is 0.54. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 10.64, the price-to-book (PB) ratio of 1.55.
Financial Health
For the three months ended June 29, Gritstone bio Inc.’s quick ratio was 5.50, while its current ratio was 5.50, indicating its ability to pay off its debt. The company’s long-term debt to equity ratio for the quarter ending June 29 is 0.27, and the total debt to equity ratio is 0.27. Based on annual data, it had gross profit of $140.37 million and revenue of $19.95 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 -59.40%. There was a -63.30% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was -93.50%.
Earnings Surprise
According to Gritstone bio Inc.’s quarterly financial report for the quarter that ended June 29, it had $29.72 million in total debt versus $73.12 million in cash and short-term investments. A lower net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $1.96 million, while revenues fell by -179.08% to $2.44 million. It was predicted that Gritstone bio Inc.’s quarterly earnings would be -$0.31, but it ended up being -$0.35, beating the consensus by 11.40%. EBITDA was -$34.35 million for the quarter. At the end of Gritstone bio Inc.’s most recent quarter ended June 29, its liabilities totaled 113.06 million, while its total debt was $95.39 million. Equity owned by shareholders amounts to $93.08 million.
Technical Picture
Here’s a quick look at Gritstone bio Inc.’s (GRTS) price momentum from a technical perspective. As of 11 August, the RSI 9-day stood at 46.50%, suggesting the stock is Neutral, with a 47.53% historical volatility rate.
The stochastic %K and %D were 27.14% and 16.94% respectively, while the average true range (ATR) was 0.1136. Based on the 14-day stochastic reading of 42.11%, the RSI (14) reading is 44.17%. On the 9-day MACD Oscillator, the stock is at 0.0000, and the 14-day reading is at -0.0479.
Analyst Ratings
In its analyst report released on March 31, 2023, Evercore ISI began covering Gritstone bio Inc. (NASDAQ: GRTS). The stock was rated as an Outperform by the brokerage firm.
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 $7.00. In analyzing these forecasts, the average price target given by analysts for Gritstone bio Inc. (GRTS) is $8.60.
