GRAIL, Inc. (NASDAQ:GRAL – Get Free Report) shares traded up 5.5% during mid-day trading on Wednesday. The company traded as high as $141.97 and last traded at $144.0280. 113,792 shares were traded during trading, a decline of 88% from the average daily volume of 962,223 shares. The stock had previously closed at $136.57.
Wall Street Analyst Weigh In
Several research firms recently weighed in on GRAL. TD Cowen reissued a “buy” rating on shares of GRAIL in a research note on Thursday, September 24th. Weiss Ratings restated a “sell (d-)” rating on shares of GRAIL in a research report on Friday, July 17th. UBS Group set a $84.00 price target on GRAIL in a research report on Thursday, September 17th. Royal Bank Of Canada started coverage on shares of GRAIL in a research report on Thursday, September 17th. They issued a “sector perform” rating and a $84.00 price objective on the stock. Finally, The Goldman Sachs Group assumed coverage on shares of GRAIL in a research note on Friday, June 5th. They issued a “neutral” rating and a $60.00 target price for the company. Five equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $85.60.
Read Our Latest Report on GRAIL
GRAIL Price Performance
GRAIL (NASDAQ:GRAL – Get Free Report) last announced 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 return on equity of 15.88% and a negative net margin of 236.95%.The business had revenue of $44.69 million during the quarter, compared to the consensus estimate of $42.39 million. On average, analysts forecast that GRAIL, Inc. will post -10.41 earnings per share for the current fiscal year.
Insider Activity
In other news, CFO Aaron Freidin sold 7,900 shares of the stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $85.01, for a total transaction of $671,579.00. Following the transaction, the chief financial officer owned 253,083 shares in the company, valued at approximately $21,514,585.83. This trade represents a 3.03% 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 link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Joshua Ofman sold 61,452 shares of GRAIL stock in a transaction on Monday, September 21st. The stock was sold at an average price of $97.74, for a total value of $6,006,318.48. Following the sale, the chief executive officer directly owned 362,271 shares of the company’s stock, valued at $35,408,367.54. This represents a 14.50% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 78,452 shares of company stock worth $7,485,691. Insiders own 1.83% of the company’s stock.
Institutional Trading of GRAIL
Several hedge funds and other institutional investors have recently bought and sold shares of the business. Primecap Management Co. CA bought a new stake in GRAIL during the second quarter worth about $148,836,000. Bank of America Corp DE bought a new position in GRAIL in the 2nd quarter valued at about $49,389,000. BlackRock Inc. increased its holdings in 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 buying an additional 608,539 shares during the period. State Street Corp raised its position in shares of GRAIL by 26.1% in the 2nd quarter. State Street Corp now owns 2,385,514 shares of the company’s stock valued at $162,859,000 after buying an additional 493,621 shares in the last quarter. Finally, Baker BROS. Advisors LP raised its position in shares of GRAIL by 27.9% in the 4th quarter. Baker BROS. Advisors LP now owns 2,085,333 shares of the company’s stock valued at $178,484,000 after buying an additional 455,208 shares in the last quarter.
About GRAIL
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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