GRAIL (NASDAQ:GRAL – Get Free Report) was upgraded by investment analysts at Royal Bank Of Canada to a “hold” rating in a report released on Thursday, Zacks reports.
GRAL has been the subject of several other research reports. UBS Group set a $84.00 target price on shares of GRAIL in a research report on Thursday. TD Cowen reiterated a “buy” rating on shares of GRAIL in a research report on Wednesday, July 15th. The Goldman Sachs Group began coverage on shares of GRAIL in a report on Friday, June 5th. They issued a “neutral” rating and a $60.00 price target for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of GRAIL in a research note on Friday, July 17th. Finally, Wolfe Research began coverage on shares of GRAIL in a report on Tuesday, June 2nd. They issued a “peer perform” rating on the stock. Five analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $70.30.
View Our Latest Report on GRAL
GRAIL Price Performance
GRAIL (NASDAQ:GRAL – Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The company reported ($2.56) earnings per share (EPS) for the quarter, beating the consensus estimate of ($2.66) by $0.10. GRAIL had a negative net margin of 236.95% and a negative return on equity of 15.88%. The firm had revenue of $44.69 million for the quarter, compared to analysts’ expectations of $42.39 million. Analysts forecast that GRAIL will post -10.41 earnings per share for the current fiscal year.
Insider Buying and Selling at GRAIL
In other GRAIL news, CEO Joshua J. Ofman sold 5,000 shares of the business’s stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $85.02, for a total transaction of $425,100.00. Following the sale, the chief executive officer owned 397,271 shares in the company, valued at approximately $33,775,980.42. The trade was a 1.24% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Aaron Freidin sold 7,900 shares of the company’s stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $85.01, for a total transaction of $671,579.00. Following the sale, the chief financial officer directly owned 253,083 shares of the company’s stock, valued at $21,514,585.83. This represents a 3.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 1.83% of the company’s stock.
Institutional Inflows and Outflows
Institutional investors have recently made changes to their positions in the company. BlackRock Inc. lifted its position in shares of GRAIL by 20.5% in the 2nd quarter. BlackRock Inc. now owns 3,577,075 shares of the company’s stock valued at $244,207,000 after acquiring an additional 608,539 shares in the last quarter. Baker BROS. Advisors LP grew its position in GRAIL by 27.9% during the 4th quarter. Baker BROS. Advisors LP now owns 2,085,333 shares of the company’s stock worth $178,484,000 after purchasing an additional 455,208 shares in the last quarter. Primecap Management Co. CA purchased a new position in GRAIL during the 2nd quarter worth approximately $148,836,000. Geode Capital Management LLC raised its stake in GRAIL by 9.8% during the 4th quarter. Geode Capital Management LLC now owns 801,503 shares of the company’s stock valued at $68,609,000 after purchasing an additional 71,253 shares during the period. Finally, Bank of America Corp DE acquired a new stake in GRAIL during the 2nd quarter valued at $49,389,000.
GRAIL Company Profile
GRAIL, Inc is a healthcare company focused on developing blood-based tests for the early detection of cancer. Its technology uses genomic and epigenomic signals, including patterns of DNA methylation, to identify signals associated with multiple cancer types from a single blood sample.
The company’s primary product is Galleri, a prescription blood test designed to screen for signals of more than 50 types of cancer, including cancers that currently lack recommended screening methods. Galleri is intended to complement, not replace, guideline-recommended cancer screenings, and a positive result requires follow-up diagnostic testing to determine whether cancer is present and where it may be located.
GRAIL was founded in 2016 as a subsidiary of Illumina and became an independent publicly traded company following its separation from Illumina in 2021.
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