Gritstone Bio Inc (NASDAQ: GRTS): A Suicide Machine Or A Millionaire’s Dream?

In today’s recent session, 11.34 million shares of the Gritstone Bio Inc (NASDAQ:GRTS) have been traded, and its beta is 0.44. Most recently the company’s share price was $1.24, and it changed around -$1.11 or -47.45% from the last close, which brings the market valuation of the company to $121.12M. GRTS at last check was trading at a discount to its 52-week high of $3.33, offering almost -168.55% off that amount. The share price’s 52-week low was $1.14, which indicates that the recent value has risen by an impressive 8.06% since then. We note from Gritstone Bio Inc’s average daily trading volume that its 10-day average is 2.09 million shares, with the 3-month average coming to 2.13 million.

Gritstone Bio Inc stock received a consensus recommendation rating of Buy, based on a mean score of 1.00. If we narrow it down even further, the data shows that 0 out of 4 analysts rate the stock as a Sell; another 1 rate it as Overweight. Among the rest, 1 recommended GRTS as a Hold, whereas 2 deemed it a Buy, and 0 rated it as Underweight. Gritstone Bio Inc is expected to report earnings per share of -$0.33 for the current quarter.

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Gritstone Bio Inc (NASDAQ:GRTS) trade information

Instantly GRTS has been showing red trend so far today with a performance of -47.45% on intraday trading today. The performance over the last five days has remained in the red territory. The company’s shares are currently down -39.46% year-to-date, but still down -54.09% over the last five days. On the other hand, Gritstone Bio Inc (NASDAQ:GRTS) is -38.86% down in the 30-day period. We can see from the shorts that 8.82 million shares have been sold at a short interest cover period of 5.03 day(s).

The consensus price target as assigned by Wall Street analysts is $5.5, which translates to bulls needing to increase their stock price by 77.45% from its current value. Analyst projections state that GRTS is forecast to be at a low of $5 and a high of $6.

Gritstone Bio Inc (GRTS) estimates and forecasts

Gritstone Bio Inc share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -28.20 percent over the past six months and at a 20.83% annual growth rate that is well above the industry average of 13.60%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will loss -10.00% in revenue this quarter, and will report an increase of 3.20% in the next quarter. The year-over-year growth rate is expected to be -7.30%, down from the previous year.

Consensus estimates provided by 5 financial analysts predict the company will bring in an average of $920k in revenue for the current quarter. 5 analysts expect Gritstone Bio Inc to make $920k in revenue for the quarter ending Jun 2024. The company’s sales for the same quarters a year ago were $2.44 million and $2.5 million respectively. Analysts predict that the company’s current quarter sales will drop, forecast at -62.30%. Forecasts for the next quarter put sales growth at -63.20%.

Gritstone Bio Inc (NASDAQ:GRTS)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 2.48% of Gritstone Bio Inc shares, and 43.60% of them are in the hands of institutional investors. The stock currently has a share float of 44.71%. Gritstone Bio Inc stock is held by 124 institutions, with Point72 Asset Management, L.P. being the largest institutional investor. By Jun 29, 2023, it held 8.14% of the shares, which is about 7.57 million shares worth $14.77 million.

Redmile Group, LLC, with 7.37% or 6.86 million shares worth $13.38 million as of Jun 29, 2023, holds the second largest percentage of outstanding shares.

Vanguard Total Stock Market Index Fund and iShares Russell 2000 ETF were the top two Mutual Funds as of Jun 29, 2023. The former held 2.49 million shares worth $4.85 million, making up 2.67% of all outstanding shares. On the other hand, iShares Russell 2000 ETF held roughly 1.96 million shares worth around $3.56 million, which represents about 2.10% of the total shares outstanding.