GRAIL (NASDAQ:GRAL) Stock Price Up 7.6% – What’s Next?

GRAIL, Inc. (NASDAQ:GRALGet Free Report)’s share price rose 7.6% during trading on Thursday . The company traded as high as $77.00 and last traded at $76.83. Approximately 166,483 shares changed hands during mid-day trading, a decline of 84% from the average daily volume of 1,041,624 shares. The stock had previously closed at $71.42.

Wall Street Analyst Weigh In

GRAL has been the subject of a number of research analyst reports. Guggenheim reduced their target price on GRAIL from $130.00 to $75.00 and set a “buy” rating for the company in a report on Monday, March 30th. Mizuho initiated coverage on GRAIL in a report on Friday, April 10th. They issued a “neutral” rating and a $58.00 target price for the company. Wall Street Zen raised GRAIL from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Morgan Stanley reduced their target price on GRAIL from $110.00 to $60.00 and set an “equal weight” rating for the company in a report on Tuesday, February 24th. Finally, Robert W. Baird set a $70.00 target price on GRAIL in a report on Wednesday, May 6th. Four equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $67.88.

Read Our Latest Analysis on GRAIL

GRAIL Price Performance

The firm’s 50-day moving average is $55.93 and its 200-day moving average is $76.22. The company has a market capitalization of $3.08 billion, a P/E ratio of -6.91 and a beta of 3.03.

GRAIL (NASDAQ:GRALGet Free Report) last announced its earnings results on Tuesday, May 5th. The company reported ($2.29) earnings per share (EPS) for the quarter, beating the consensus estimate of ($2.76) by $0.47. The company had revenue of $40.79 million during the quarter, compared to analyst estimates of $39.16 million. GRAIL had a negative net margin of 253.22% and a negative return on equity of 16.42%. As a group, analysts forecast that GRAIL, Inc. will post -10.91 EPS for the current fiscal year.

Insider Activity at GRAIL

In related news, CEO Robert P. Ragusa sold 123,502 shares of GRAIL stock in a transaction on Wednesday, April 8th. The stock was sold at an average price of $49.92, for a total transaction of $6,165,219.84. Following the transaction, the chief executive officer directly owned 518,582 shares in the company, valued at approximately $25,887,613.44. The trade was a 19.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Aaron Freidin sold 45,806 shares of GRAIL stock in a transaction on Wednesday, April 8th. The shares were sold at an average price of $49.92, for a total value of $2,286,635.52. Following the transaction, the chief financial officer owned 260,669 shares in the company, valued at $13,012,596.48. This trade represents a 14.95% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 310,267 shares of company stock worth $15,485,396. 1.83% of the stock is owned by company insiders.

Hedge Funds Weigh In On GRAIL

Several institutional investors and hedge funds have recently bought and sold shares of GRAL. Royal Bank of Canada lifted its position in GRAIL by 17.7% during the first quarter. Royal Bank of Canada now owns 88,082 shares of the company’s stock valued at $2,250,000 after purchasing an additional 13,264 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in GRAIL by 28.2% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,835 shares of the company’s stock valued at $76,000 after purchasing an additional 623 shares in the last quarter. NewEdge Advisors LLC lifted its position in GRAIL by 390.3% during the first quarter. NewEdge Advisors LLC now owns 1,760 shares of the company’s stock valued at $45,000 after purchasing an additional 1,401 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in GRAIL by 37.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 92,465 shares of the company’s stock valued at $2,362,000 after purchasing an additional 25,177 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in GRAIL by 115.7% during the second quarter. JPMorgan Chase & Co. now owns 79,544 shares of the company’s stock valued at $4,090,000 after purchasing an additional 42,675 shares in the last quarter.

GRAIL Company Profile

(Get Free Report)

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.

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