Gritstone bio Inc. (NASDAQ: GRTS) stock jumped 0.33% on Friday to $3.07 against a previous-day closing price of $3.06. With 0.56 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.24 million shares. During the session, the Biotechnology company that operates in wider Healthcare sector, reached to the highest price of $3.1150 whereas the lowest price it dropped to was $3.0200. The 52-week range on GRTS shows that it touched its highest point at $6.10 and its lowest point at $1.71 during that stretch. It currently has a 1-year price target of $8.75. Beta for the stock currently stands at 0.51.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of GRTS was down-trending over the past week, with a drop of -11.01%, but this was down by -8.90% over a month. Three-month performance surged to 32.90% while six-month performance rose 7.72%. The stock lost -44.48% in the past year, while it has lost -11.01% so far this year. A look at the trailing 12-month EPS for GRTS yields -1.40 with Next year EPS estimates of -1.40. For the next quarter, that number is -0.35. This implies an EPS growth rate of 65.80% for this year and -1.40% for next year.
Float and Shares Shorts:
At present, 86.60 million GRTS shares are outstanding with a float of 81.20 million shares on hand for trading. On Oct 13, 2022, short shares totaled 5.35 million, which was 7.33% higher than short shares on Sep 14, 2022. In addition to Dr. Andrew R. Allen BCh, BM, M.D., MA, MRCP, Ph.D. as the firm’s Co-Founder, Pres, CEO & Director, Mr. Erin E. Jones M.S. serves as its Exec. VP & COO.
Through their ownership of 48.30% of GRTS’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 7.31% of GRTS, in contrast to 31.45% held by mutual funds. Shares owned by individuals account for 16.38%. As the largest shareholder in GRTS with 8.34% of the stake, Redmile Group LLC holds 6,952,760 shares worth 6,952,760. A second-largest stockholder of GRTS, Point72 Asset Management LP, holds 6,461,148 shares, controlling over 7.75% of the firm’s shares. The Vanguard Group, Inc. is the third largest shareholder in GRTS, holding 3,083,344 shares or 3.70% stake. With a 2.60% stake in GRTS, the Vanguard Total Stock Market Index is the largest stakeholder. A total of 2,168,030 shares are owned by the mutual fund manager. The Vanguard Extended Market Index Fu, which owns about 1.05% of GRTS stock, is the second-largest Mutual Fund holder. It holds 873,606 shares valued at 3.01 million. iShares Biotechnology ETF holds 0.71% of the stake in GRTS, owning 590,191 shares worth 2.04 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for GRTS since 5 analysts follow the stock currently. There are 4 analysts who recommend BUY ratings, while 1 suggest SELL ratings. Of the remaining analysts, 0 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With GRTS analysts setting a high price target of $20.00 and a low target of $2.00, the average target price over the next 12 months is $8.75. Based on these targets, GRTS could surge 551.47% to reach the target high and fall by -34.85% to reach the target low. Reaching the average price target will result in a growth of 185.02% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. GRTS will report FY 2022 earnings on 03/08/2024. Analysts have provided yearly estimates in a range of -$1.22 being high and -$1.57 being low. For GRTS, this leads to a yearly average estimate of -$1.38. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Gritstone bio Inc. surprised analysts by $0.05 when it reported -$0.35 EPS against a consensus estimate of -$0.40. The surprise factor in the prior quarter was $0.06. Based on analyst estimates, the high estimate for the next quarter is -$0.30 and the low estimate is -$0.41. The average estimate for the next quarter is thus -$0.34.
Summary of Insider Activity:
Insiders traded GRTS stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 7 while that of sell transactions has remained unmoved to 0 over the past year. The total number of shares bought during that period was 193,021 while 0 shares were sold.