Gritstone Bio Inc (GRTS): A Great Stock For Handling Current Market Conditions?

Currently, there are 97.59M common shares owned by the public and among those 89.41M shares have been available to trade.

The company’s stock has a 5-day price change of -14.23% and 14.08% over the past three months. GRTS shares are trading 15.20% year to date (YTD), with the 12-month market performance down to -11.65% lower. It has a 12-month low price of $1.14 and touched a high of $3.33 over the same period. GRTS has an average intraday trading volume of 2.02 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -5.28%, -4.21%, and 16.12% respectively.

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Institutional ownership of Gritstone Bio Inc (NASDAQ: GRTS) shares accounts for 38.49% of the company’s 97.59M shares outstanding.

It has a market capitalization of $230.46M and a beta (3y monthly) value of 0.39. The earnings-per-share (ttm) stands at -$1.25. Price movements for the stock have been influenced by the stock’s volatility, which stands at 12.38% over the week and 11.84% over the month.

Analysts forecast that Gritstone Bio Inc (GRTS) will achieve an EPS of -$0.33 for the current quarter, -$0.3 for the next quarter and -$0.96 for 2025. The lowest estimate earnings-per-share for the quarter is -$0.39 while analysts give the company a high EPS estimate of -$0.26. Comparatively, EPS for the current quarter was -$0.3 a year ago. Earnings per share for the fiscal year are expected to increase by 12.60%, and 4.65% over the next financial year.

Looking at the support for the GRTS, a number of firms have released research notes about the stock. JMP Securities stated their Mkt Outperform rating for the stock in a research note on February 28, 2024, with the firm’s price target at $4. B. Riley Securities was of a view on March 28, 2023 that the stock is Buy, while Piper Sandler gave the stock Overweight rating on October 31, 2022, issuing a price target of $6. Goldman on their part issued Sell rating on August 22, 2022.

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