The stock of Gritstone Bio Inc (NASDAQ:GRTS) last traded at $2.45, up 20.69% from the previous session.
Data from the available sources indicates that Gritstone Bio Inc (NASDAQ:GRTS) is covered by 6 analysts. The consensus rating among analysts is ‘Buy’. As we calculate the median target price by taking the range between a high of $20.00 and a low of $7.00, we find $7.50. Given the previous closing price of $2.03, this indicates a potential upside of 269.46 percent. GRTS stock price is now 45.50% away from the 50-day moving average and 3.23% away from the 200-day moving average. The market capitalization of the company currently stands at $228.05M.
In total, 0 analysts have assigned it a hold rating, and 6 have given it a buy rating. Brokers who have rated the stock have averaged $10.50 as their price target over the next twelve months.
In other news, Economides Vassiliki, insider bought 12,000 shares of the company’s stock on May 23. The stock was bought for $22,829 at an average price of $1.90. Upon completion of the transaction, the insider now directly owns 214,058 shares in the company, valued at $0.52 million. A total of 9.21% 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 AVIDITY PARTNERS MANAGEMENT LP during the first quarter worth $6,775,000. HOULIHAN FINANCIAL RESOURCE GROUP, LTD. invested $882,000 in shares of GRTS during the first quarter. In the first quarter, NUVEEN ASSET MANAGEMENT, LLC acquired a new stake in Gritstone Bio Inc valued at approximately $837,000. GSA CAPITAL PARTNERS LLP acquired a new stake in GRTS for approximately $333,000. RHUMBLINE ADVISERS purchased a new stake in GRTS valued at around $319,000 in the second quarter. In total, there are 126 active investors with 48.63% ownership of the company’s stock.
During the past 12 months, Gritstone Bio Inc has had a low of $1.14 and a high of $4.05. As of last week, the company has a debt-to-equity ratio of 0.87, a current ratio of 5.53, and a quick ratio of 5.53. The fifty day moving average price for GRTS is $1.6940 and a two-hundred day moving average price translates $2.3677 for the stock.
The latest earnings results from Gritstone Bio Inc (NASDAQ: GRTS) was released for Jun, 2023. According to the Biotechnology Company, earnings per share came in at -$0.31, beating analysts’ expectations of -$0.35 by 0.04. This compares to -$0.34 EPS in the same period last year. The net profit margin was -4824.18% and return on equity was -95.62% for GRTS. The company reported revenue of $1.96 million for the quarter, compared to $5.47 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -64.27 percent. For the current quarter, analysts expect GRTS to generate $2.21M in revenue.
Gritstone Bio Inc(GRTS) Company Profile
Gritstone bio, Inc., a clinical-stage biotechnology company, engages in developing vaccine-based immunotherapy candidates against cancer and infectious diseases. Its primary product candidate is GRANITE, a neoantigen-based immunotherapy, which is in Phase 2/3 clinical trials for the treatment of solid tumors, including microsatellite stable colorectal cancers. The company is also developing SLATE, an off-the-shelf immunotherapy candidate, which is in Phase 2 clinical trials for the treatment of metastatic solid 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. Gritstone bio, Inc. 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.
