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Potential Price Increase for Gritstone Bio Inc (GRTS) After Recent Insider Activity

In a filing, Gritstone Bio Inc revealed its PRESIDENT AND CEO Allen Andrew R unloaded Company’s shares for reported $18156.0 on May 16 ’24. In the deal valued at $0.75 per share,24,263 shares were sold. As a result of this transaction, Allen Andrew R now holds 985,360 shares worth roughly $0.56 million.

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Then, Jones Erin sold 13,749 shares, generating $10,288 in total proceeds. Upon selling the shares at $0.75, the EVP, CHIEF OPERATING OFFICER now owns 359,293 shares.

Before that, Jooss Karin sold 13,749 shares. Gritstone Bio Inc shares valued at $10,288 were divested by the insider at a price of $0.75 per share. As a result of the transaction, Jooss Karin now holds 683,526 shares, worth roughly $0.39 million.

JMP Securities initiated its Gritstone Bio Inc [GRTS] rating to a Mkt outperform in a research note published on February 28, 2024; the price target was $4. A number of analysts have revised their coverage, including Evercore ISI’s analysts, who began to cover the stock in late March with a ‘”an Outperform”‘ rating. B. Riley Securities began covering GRTS with “Buy” recommendation on March 28, 2023. Piper Sandler started covering the stock on October 31, 2022. It rated GRTS as “an Overweight”.

Price Performance Review of GRTS

On Tuesday, Gritstone Bio Inc [NASDAQ:GRTS] saw its stock fall -1.21% to $0.57. Over the last five days, the stock has lost -21.24%. Gritstone Bio Inc shares have fallen nearly -71.91% since the year began. Nevertheless, the stocks have fallen -70.62% over the past one year. While a 52-week high of $3.33 was reached on 01/16/24, a 52-week low of $0.58 was recorded on 07/02/24. SMA at 50 days reached $0.7840, while 200 days put it at $1.6670. A total of 1.95 million shares were traded, compared to the trading of 12.33 million shares in the previous session.

Levels Of Support And Resistance For GRTS Stock

The 24-hour chart illustrates a support level at 0.5287, which if violated will result in even more drops to 0.4843. On the upside, there is a resistance level at 0.6087. A further resistance level may holdings at 0.6443. The Relative Strength Index (RSI) on the 14-day chart is 28.01, which indicates oversold technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.1255, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 82.90%. Stochastics%K at 11.63% indicates the stock is a buying.

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