In yesterday’s Wall Street session, Gritstone bio Inc. (NASDAQ:GRTS) shares traded at $2.38, up 1.71% from the previous session.
As we calculate the median target price by taking the range between a high of $20.00 and a low of $2.00, we find $6.50. Given the previous closing price of $2.34, this indicates a potential upside of 177.78 percent. GRTS stock price is now -21.59% away from the 50-day moving average and -17.86% away from the 200-day moving average. The market capitalization of the company currently stands at $184.43M.
From Robots to Self-Driving Cars: 5 AI Stocks to Consider for Your Portfolio
The artificial intelligence (AI) revolution is already here and it's about to change everything we know about everything. With the global market for AI projected to grow from $137 billion in 2022 to over $1.81 trillion by 2030, there's never been a better time to invest in this burgeoning industry. That's why we've compiled a list of the Top 5 AI Stocks to Buy for 2023. These companies are at the forefront of the AI revolution, and have the potential to deliver huge returns to investors like you.
Get our free report, "Top 5 AI Stocks to Buy for 2023".
Sponsored
Brokers who have rated the stock have averaged $8.75 as their price target over the next twelve months.
With the price target of $6, Piper Sandler recently initiated with Overweight rating for Gritstone bio Inc. (NASDAQ: GRTS). On August 22, 2022, Goldman Downgraded its previous ‘Neutral’ rating to ‘Sell’ on the stock keeping its target price maintained at $2, while ‘BTIG Research’ rates the stock as ‘Buy’.
A total of 2.59% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in GRTS stock. A new stake in Gritstone bio Inc. shares was purchased by POINT72 ASSET MANAGEMENT, L.P. during the first quarter worth $17,971,000. BALYASNY ASSET MANAGEMENT LLC invested $4,808,000 in shares of GRTS during the first quarter. In the first quarter, ENDURANT CAPITAL MANAGEMENT LP acquired a new stake in Gritstone bio Inc. valued at approximately $662,000. TELEMETRY INVESTMENTS, L.L.C. acquired a new stake in GRTS for approximately $246,000. 683 CAPITAL MANAGEMENT, LLC purchased a new stake in GRTS valued at around $145,000 in the second quarter. In total, there are 124 active investors with 40.50% ownership of the company’s stock.
On Wednesday morning Gritstone bio Inc. (NASDAQ: GRTS) stock kicked off with the opening price of $2.3100. During the past 12 months, Gritstone bio Inc. has had a low of $1.71 and a high of $5.85. As of last week, the company has a debt-to-equity ratio of 0.14, a current ratio of 4.70, and a quick ratio of 4.70. The fifty day moving average price for GRTS is $3.0352 and a two-hundred day moving average price translates $2.8976 for the stock.
The latest earnings results from Gritstone bio Inc. (NASDAQ: GRTS) was released for Sep, 2022. According to the Biotechnology Company, earnings per share came in at -$0.35, beating analysts’ expectations of -$0.4 by 0.05. This compares to -$0.36 EPS in the same period last year. The company reported revenue of $3.02 million for the quarter, compared to $2.61 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 15.57 percent. For the current quarter, analysts expect GRTS to generate $2.9M in revenue.
Gritstone bio Inc.(GRTS) Company Profile
Gritstone bio, Inc., a clinical-stage biotechnology company, engages in developing immunotherapies against multiple cancer types and infectious diseases. Its lead product candidate is GRANITE, a neoantigen-based immunotherapy for the treatment of solid tumors, including metastatic non-small cell lung cancer, as well as gastroesophageal, bladder and microsatellite stable, and colorectal cancers. The company is also developing SLATE, an off-the-shelf immunotherapy candidate for the treatment of common solid tumors comprising metastatic non-small cell lung cancer, colorectal cancer, pancreatic cancer, and shared neoantigen-positive tumors. In addition, it develops CORAL, a SARS-CoV-2 vaccine platform designed to deliver spike and additional SARS-CoV-2 T cell epitopes for protection and broader immunity against SARS-CoV-2 variants; and a therapeutic vaccine candidate designed to treat and cure human immunodeficiency virus (HIV) infection. It has a strategic collaboration with bluebird bio, Inc.; collaboration agreement with Gilead Sciences, Inc.; and license agreement with Genevant Sciences GmbH. The company was formerly known as Gritstone Oncology, Inc. and changed its name to Gritstone bio, Inc. in May 2021. Gritstone bio, Inc. was incorporated in 2015 and is headquartered in Emeryville, California.
