GRAIL (NASDAQ:GRAL) Shares Down 6.3% – Here’s Why

GRAIL, Inc. (NASDAQ:GRALGet Free Report)’s share price fell 6.3% during trading on Wednesday . The stock traded as low as $70.68 and last traded at $70.76. Approximately 238,295 shares changed hands during trading, a decline of 75% from the average daily volume of 936,345 shares. The stock had previously closed at $75.48.

Analyst Ratings Changes

GRAL has been the subject of several recent research reports. Robert W. Baird set a $70.00 price target on GRAIL in a research report on Wednesday, May 6th. Weiss Ratings restated a “sell (d-)” rating on shares of GRAIL in a research report on Friday, July 17th. Wolfe Research began coverage on shares of GRAIL in a research note on Tuesday, June 2nd. They set a “peer perform” rating on the stock. Piper Sandler lifted their target price on shares of GRAIL from $54.00 to $56.00 and gave the company a “neutral” rating in a report on Wednesday, May 6th. Finally, Mizuho boosted their target price on shares of GRAIL from $58.00 to $65.00 and gave the company a “neutral” rating in a research note on Wednesday, July 15th. Four equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, GRAIL currently has a consensus rating of “Hold” and an average target price of $67.78.

View Our Latest Stock Analysis on GRAL

GRAIL Stock Performance

The firm’s 50 day moving average price is $67.23 and its 200-day moving average price is $65.92. The firm has a market capitalization of $3.17 billion, a PE ratio of -7.27 and a beta of 3.24.

GRAIL (NASDAQ:GRALGet Free Report) last posted its earnings results on Wednesday, August 5th. The company reported ($2.56) EPS for the quarter, beating analysts’ consensus estimates of ($2.66) by $0.10. GRAIL had a negative return on equity of 15.88% and a negative net margin of 236.95%.The firm had revenue of $44.69 million for the quarter, compared to analysts’ expectations of $42.39 million. On average, equities research analysts expect that GRAIL, Inc. will post -10.93 earnings per share for the current fiscal year.

Insider Transactions at GRAIL

In other GRAIL news, insider Andrew John Partridge sold 1,491 shares of the firm’s stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $61.08, for a total value of $91,070.28. Following the sale, the insider directly owned 163,738 shares of the company’s stock, valued at approximately $10,001,117.04. This trade represents a 0.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.83% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Parallel Advisors LLC lifted its stake in GRAIL by 5.2% in the 4th quarter. Parallel Advisors LLC now owns 2,667 shares of the company’s stock worth $228,000 after purchasing an additional 133 shares in the last quarter. Comerica Bank boosted its holdings in shares of GRAIL by 59.2% during the 3rd quarter. Comerica Bank now owns 465 shares of the company’s stock worth $27,000 after purchasing an additional 173 shares during the last quarter. Whittier Trust Co. grew its position in shares of GRAIL by 19.3% in the fourth quarter. Whittier Trust Co. now owns 1,114 shares of the company’s stock valued at $95,000 after purchasing an additional 180 shares in the last quarter. Rossby Financial LCC grew its position in shares of GRAIL by 25.0% in the fourth quarter. Rossby Financial LCC now owns 1,250 shares of the company’s stock valued at $107,000 after purchasing an additional 250 shares in the last quarter. Finally, Prosperity Consulting Group LLC grew its position in shares of GRAIL by 6.9% in the first quarter. Prosperity Consulting Group LLC now owns 3,881 shares of the company’s stock valued at $201,000 after purchasing an additional 250 shares in the last quarter.

About GRAIL

(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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