GRAIL, Inc. (NASDAQ:GRAL – Get Free Report)’s stock price dropped 4.2% during trading on Friday . The stock traded as low as $77.70 and last traded at $79.00. 42,698 shares changed hands during trading, a decline of 95% from the average daily volume of 916,015 shares. The stock had previously closed at $82.50.
Wall Street Analyst Weigh In
Several equities analysts have recently issued reports on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of GRAIL in a research report on Friday, July 17th. Piper Sandler raised their target price on shares of GRAIL from $54.00 to $56.00 and gave the stock a “neutral” rating in a report on Wednesday, May 6th. Wolfe Research assumed coverage on GRAIL in a report on Tuesday, June 2nd. They set a “peer perform” rating on the stock. Mizuho lifted their price target on GRAIL from $58.00 to $65.00 and gave the company a “neutral” rating in a report on Wednesday, July 15th. Finally, The Goldman Sachs Group began coverage on shares of GRAIL in a research note on Friday, June 5th. They set a “neutral” rating and a $60.00 target price for the company. Four investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, GRAIL currently has a consensus rating of “Hold” and a consensus price target of $67.78.
Get Our Latest Stock Analysis on GRAL
GRAIL Trading Down 4.5%
GRAIL (NASDAQ:GRAL – Get Free Report) last announced its earnings results on Wednesday, August 5th. The company reported ($2.56) earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $42.39 million. On average, sell-side analysts forecast that GRAIL, Inc. will post -10.41 EPS for the current year.
Insider Activity
In related news, insider Andrew John Partridge sold 1,491 shares of the firm’s stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $61.08, for a total value of $91,070.28. Following the transaction, the insider directly owned 163,738 shares in the company, valued at approximately $10,001,117.04. This trade represents a 0.90% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 1.83% of the company’s stock.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. grew its position in shares of GRAIL by 20.5% in the second quarter. BlackRock Inc. now owns 3,577,075 shares of the company’s stock valued at $244,207,000 after purchasing an additional 608,539 shares during the last quarter. California State Teachers Retirement System boosted its stake in GRAIL by 6,569.8% during the 2nd quarter. California State Teachers Retirement System now owns 2,966,058 shares of the company’s stock valued at $202,493,000 after purchasing an additional 2,921,588 shares during the period. Farallon Capital Management LLC grew its holdings in GRAIL by 73.7% in the 4th quarter. Farallon Capital Management LLC now owns 2,342,684 shares of the company’s stock valued at $200,510,000 after buying an additional 993,684 shares during the last quarter. Primecap Management Co. CA bought a new position in GRAIL in the 2nd quarter worth approximately $148,836,000. Finally, Baker BROS. Advisors LP increased its position in GRAIL by 27.9% in the 4th quarter. Baker BROS. Advisors LP now owns 2,085,333 shares of the company’s stock worth $178,484,000 after buying an additional 455,208 shares during the period.
About GRAIL
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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