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Gritstone Bio Inc (NASDAQ:GRTS)’s Stock Performance and Outlook

In the last trading session, 2.12 million Gritstone Bio Inc (NASDAQ:GRTS) shares changed hands as the company’s beta touched 0.36. With the company’s per share price at $2.25 changed hands at $0.0 or 0.00% during last session, the market valuation stood at $214.52M. GRTS’s last price was a discount, traded about -48.0% off its 52-week high of $3.33. The share price had its 52-week low at $1.14, which suggests the last value was 49.33% up since then. When we look at Gritstone Bio Inc’s average trading volume, we note the 10-day average is 2.47 million shares, with the 3-month average coming to 1.10.

Gritstone Bio Inc (NASDAQ:GRTS) trade information

The company’s shares are showing year-to-date upside of 10.29%. However, in the 30-day time frame, Gritstone Bio Inc (NASDAQ:GRTS) is -5.86% down. Looking at the short shares, we see there were 8.99 million shares sold at short interest cover period of 3.37 days.

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Gritstone Bio Inc (GRTS) estimates and forecasts

Data shows that the Gritstone Bio Inc share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 20.97% over the past 6 months, a 1.52% in annual growth rate that is considerably lower than the industry average of 15.50%. Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2024 revenue estimates. The rating firms predict current quarter revenue for Gritstone Bio Inc will fall -13.30%, while the growth in revenue is estimated to hit -13.30% for the next quarter. Year-over-year growth is forecast to reach -50.60% down from the last financial year.

Consensus estimates given by 7 financial analysts project the company’s revenue in the current quarter to hit an average of $3.89 million. 3 analysts are of the opinion that Gritstone Bio Inc’s revenue for the quarter ending Mar 2024 will be $1.1 million. The company’s revenue for the corresponding quarters a year ago was $4.26 million and $2.44 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -8.70%. The estimates for the next quarter sales put growth at -55.00%.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 1.04%. The 2024 estimates are for Gritstone Bio Inc earnings to increase by 0.87%.

GRTS Dividends

Gritstone Bio Inc is expected to release its next quarterly earnings report between March 07 and March 11.

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