Exploring Growth Opportunities In Gritstone Bio Inc (NASDAQ: GRTS)

Gritstone Bio Inc (NASDAQ:GRTS) shares, rose in value, with the stock price down by -0.83% to the previous day’s close as strong demand from buyers drove the stock to $1.19.

Actively observing the price movement in the last trading, the stock closed the session at $1.20. The value of beta (5-year monthly) was 0.40. Referring to stock’s 52-week performance, its high was $3.33, and the low was $1.14. On the whole, GRTS has fluctuated by -44.13% over the past month.

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With the market capitalization of Gritstone Bio Inc currently standing at about $116.70 million, investors are eagerly awaiting this quarter’s results, scheduled for May 09, 2024 – May 13, 2024. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be -$0.33, which is expected to increase to -$0.18 for fiscal year -$1.02 and then to about -$0.97 by fiscal year 2025. Data indicates that the EPS growth is expected to be 15.00% in 2025, while the next year’s EPS growth is forecast to be 4.90%.

According to the average forecast, sales growth in current quarter could jump down -55.00%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2025, the company’s y-o-y revenues would reach $13.96 million, representing a decrease of -14.60% from the revenues reported in the last year’s results.

Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were 1 upward and no downward review(s) in last seven days. We see that GRTS’s technical picture suggests that short-term indicators denote the stock is a 50% Buy on average. However, medium term indicators have put the stock in the category of 50% Buy while long term indicators on average have been pointing out that it is a 50% Sell.

The stock’s technical analysis shows that the PEG ratio is about 0, with the price of GRTS currently trading nearly -51.45% and -50.79% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 28.56, while the 7-day volatility ratio is showing 13.33% which for the 30-day chart, stands at 11.20%. Furthermore, Gritstone Bio Inc (GRTS)’s beta value is 0.50, and its average true range (ATR) is 0.32.

A comparison of Gritstone Bio Inc (GRTS) with its peers suggests the former has fared considerably weaker in the market. GRTS showed an intraday change of -0.83% in last session, and over the past year, it shrunk by -57.19%%.

Data on historical trading for Gritstone Bio Inc (NASDAQ:GRTS) indicates that the trading volumes over the past 10 days have averaged 4.83 million and over the past 3 months, they’ve averaged 2.52 million. According to company’s latest data on outstanding shares, there are 97.59 million shares outstanding.

Nearly 8.82% of Gritstone Bio Inc’s shares belong to company insiders and institutional investors own 38.51% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 8.82 million shares as on Mar 15, 2024, resulting in a short ratio of 5.03. According to the data, the short interest in Gritstone Bio Inc (GRTS) stood at 8.99% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 9.14 million. The stock has fallen by -41.67% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the GRTS stock heading into the next quarter.