GRAIL (NASDAQ:GRAL) Announces Quarterly Earnings Results, Beats Estimates By $0.89 EPS

GRAIL (NASDAQ:GRAL) posted its quarterly earnings data on Thursday. The company reported ($2.44) earnings per share (EPS) for the quarter, topping the consensus estimate of ($3.33) by $0.89, Zacks reports. The firm had revenue of $43.60 million for the quarter, compared to the consensus estimate of $43.33 million. GRAIL had a negative return on equity of 15.69% and a negative net margin of 286.43%.

GRAIL Trading Down 0.7%

Shares of GRAL stock traded down $0.75 on Thursday, reaching $101.53. The company had a trading volume of 1,454,899 shares, compared to its average volume of 769,363. The stock has a market cap of $3.96 billion, a PE ratio of -8.73 and a beta of 4.52. The company has a 50-day moving average of $97.29 and a 200-day moving average of $75.64. GRAIL has a 12 month low of $20.44 and a 12 month high of $118.84.

Institutional Investors Weigh In On GRAIL

Several hedge funds have recently bought and sold shares of GRAL. Comerica Bank grew its holdings in shares of GRAIL by 59.2% in the 3rd quarter. Comerica Bank now owns 465 shares of the company’s stock valued at $27,000 after buying an additional 173 shares during the period. Intesa Sanpaolo S.p.A. acquired a new position in GRAIL in the fourth quarter valued at about $44,000. Ankerstar Wealth LLC acquired a new position in GRAIL in the fourth quarter valued at about $45,000. Rossby Financial LCC increased its holdings in shares of GRAIL by 25.0% in the fourth quarter. Rossby Financial LCC now owns 1,250 shares of the company’s stock worth $107,000 after acquiring an additional 250 shares in the last quarter. Finally, CIBC Private Wealth Group LLC raised its position in shares of GRAIL by 244.0% during the third quarter. CIBC Private Wealth Group LLC now owns 1,610 shares of the company’s stock worth $95,000 after purchasing an additional 1,142 shares during the period.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Robert W. Baird assumed coverage on GRAIL in a research report on Tuesday. They set an “outperform” rating and a $113.00 target price for the company. Morgan Stanley boosted their price objective on GRAIL from $85.00 to $110.00 and gave the stock an “equal weight” rating in a report on Monday, December 1st. Canaccord Genuity Group raised their target price on shares of GRAIL from $85.00 to $105.00 and gave the company a “buy” rating in a research note on Monday, November 17th. Guggenheim lifted their price target on shares of GRAIL from $100.00 to $130.00 and gave the stock a “buy” rating in a research report on Monday, January 26th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of GRAIL in a report on Thursday, January 22nd. Three analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $107.83.

GRAIL Company Profile

GRAIL, Inc (NASDAQ: GRAL) is a biotechnology company dedicated to the early detection of cancer through a multi-cancer blood test. Leveraging advances in next-generation sequencing, cell-free DNA (cfDNA) analysis and machine learning, GRAIL has developed the Galleri™ test, which aims to identify more than 50 types of cancer at their earliest stages. The company’s platform analyzes methylation patterns in circulating tumor DNA to pinpoint tumor presence and tissue of origin, enabling physicians to pursue timely diagnostic follow-up.

Founded in 2016 as a spin-out from Illumina, GRAIL established its headquarters in Menlo Park, California, with additional research and operations centers in the United Kingdom.