In the last trading session, 0.84 million Gritstone Bio Inc (NASDAQ:GRTS) shares changed hands as the company’s beta touched 0.40. With the company’s per share price at $2.69 changed hands at -$0.05 or -1.82% during last session, the market valuation stood at $263.81M. GRTS’s last price was a discount, traded about -23.79% 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 57.62% up since then. When we look at Gritstone Bio Inc’s average trading volume, we note the 10-day average is 1.35 million shares, with the 3-month average coming to 2.03 million.
Gritstone Bio Inc (NASDAQ:GRTS) trade information
Instantly GRTS was in red as seen at the end of in last trading. With action 8.91%, the performance over the past five days has been green. The drop to weekly highs of 2.91 subtracted -1.82% to the stock’s daily price. The company’s shares are showing year-to-date upside of 31.86%, with the 5-day performance at 8.91% in the green. However, in the 30-day time frame, Gritstone Bio Inc (NASDAQ:GRTS) is 21.17% up. Looking at the short shares, we see there were 8.22 million shares sold at short interest cover period of 4.32 days.
Gritstone Bio Inc (GRTS) estimates and forecasts
Data shows that the Gritstone Bio Inc share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 115.20% over the past 6 months, a 20.83% in annual growth rate that is considerably higher than the industry average of 12.20%. 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 -10.00%, while the growth in revenue is estimated to hit 3.20% for the next quarter. Year-over-year growth is forecast to reach -7.30% down from the last financial year.
Consensus estimates given by 5 financial analysts project the company’s revenue in the current quarter to hit an average of $920k. 5 analysts are of the opinion that Gritstone Bio Inc’s revenue for the quarter ending Jun 2024 will be $920k. The company’s revenue for the corresponding quarters a year ago was $2.44 million and $2.5 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -62.30%. The estimates for the next quarter sales put growth at -63.20%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 30.25%. The 2024 estimates are for Gritstone Bio Inc earnings to increase by 12.60%.
GRTS Dividends
Gritstone Bio Inc is expected to release its next quarterly earnings report between May 09 and May 13.
Gritstone Bio Inc (NASDAQ:GRTS)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 2.48% of Gritstone Bio Inc shares while 43.60% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 44.71%. There are 43.60% institutions holding the Gritstone Bio Inc stock share, with Point72 Asset Management, L.P. the top institutional holder. As of Jun 29, 2023, the company held 8.14% of the shares, roughly 7.57 million GRTS shares worth $14.77 million.
Redmile Group, LLC holds the second largest percentage of outstanding shares, with 7.37% or 6.86 million shares worth $13.38 million as of Jun 29, 2023.
Among Mutual Funds, the top two as of Jun 29, 2023 were Vanguard Total Stock Market Index Fund and iShares Russell 2000 ETF. With 2.49 million shares estimated at $4.85 million under it, the former controlled 2.67% of total outstanding shares. On the other hand, iShares Russell 2000 ETF held about 2.10% of the shares, roughly 1.96 million shares worth around $3.56 million.
