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Tuesday, November 24, 2020

Investor Confidence is Rising for Gritstone Oncology Inc. (NASDAQ:GRTS)

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Gritstone Oncology Inc. (GRTS) shares are trading at higher $3.52 and the avg recommendation for the stock is Strong Buy.

To add more color to this target, the company’s high over the last year is $12.96 and the low is $3.18. Over the last 52 weeks, GRTS is down -72.84% while the S&P 500 is up 0.22%. The catalyst for this interesting swing was the company’s recent earnings report.

A Notable Earnings Report

In the last quarter, GRTS reported a profit of $26.55 million. Gritstone Oncology Inc. also saw revenues increase to $0.49 million. In addition, GRTS has free cash flow of -$46.33 million as of 06-2020. The company’s EBITDA came in at -$24.44 million which compares well with its peers.

GRTS Return on Equity (ROE) is -85.50%, and its Return on Assets is -61.20%. All told, it is clear that, GRTS needs to be on your watchlist.

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Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. GRTS has a short ratio of 3.51 and outstanding shares of 37.26M.

Company Outlook

GRTS has seen increased volume after this news and investors are putting their support behind the value proposition. Furthermore, 10-day volume stands at 0.45 million and more growth is possible in the weeks ahead. Traders will also note the company’s earnings per share came in at -2.95. Gritstone Oncology Inc. GRTS also noted assets of $145.67 million at the end of the last quarter. Investors should also keep an eye on sector updates as GRTS has historically followed its peers on positive news.

All told, Gritstone Oncology Inc. GRTS has strung together solid data and demonstrated underlying fundamentals. At its current valuation, GRTS represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.

Gritstone Oncology Inc. GRTS is now commanding a market cap of 137.03M and a float of 33.99M. GRTS is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of GRTS stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in GRTS, either long or short, and we have not been compensated for this article.

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