GRAIL (NASDAQ:GRAL) Stock Price Up 5.1% – What’s Next?

GRAIL, Inc. (NASDAQ:GRAL – Get Free Report) shot up 5.1% during trading on Wednesday. The stock traded as high as $158.87 and last traded at $158.3330. Approximately 230,451 shares traded hands during mid-day trading, a decline of 76% from the average session volume of 969,547 shares. The stock had previously closed at $150.61.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on GRAL. Canaccord Genuity Group upped their price objective on shares of GRAIL from $80.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, September 28th. Wall Street Zen upgraded GRAIL from a “sell” rating to a “hold” rating in a report on Sunday, September 13th. Weiss Ratings reiterated a “sell (d-)” rating on shares of GRAIL in a research report on Thursday, October 15th. TD Cowen boosted their price target on shares of GRAIL from $88.00 to $180.00 and gave the company a “buy” rating in a research report on Tuesday, October 13th. Finally, Royal Bank Of Canada began coverage on shares of GRAIL in a research report on Thursday, September 17th. They set a “sector perform” rating and a $84.00 price objective for the company. Five equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, GRAIL presently has a consensus rating of “Hold” and a consensus price target of $119.80.

View Our Latest Stock Analysis on GRAIL

GRAIL Trading Up 0.7%

The stock’s fifty day simple moving average is $110.71 and its 200-day simple moving average is $78.36.

GRAIL (NASDAQ:GRAL – Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The company reported ($2.56) earnings per share for the quarter, beating analysts’ consensus estimates of ($2.66) by $0.10. The business had revenue of $44.69 million for the quarter, compared to analyst estimates of $42.39 million. GRAIL had a negative net margin of 236.95% and a negative return on equity of 15.88%. Equities analysts predict that GRAIL, Inc. will post -10.07 earnings per share for the current year.

Insider Activity at GRAIL

In other news, insider Andrew Partridge sold 7,873 shares of the business’s stock in a transaction dated Monday, October 5th. The shares were sold at an average price of $146.39, for a total transaction of $1,152,528.47. Following the transaction, the insider directly owned 155,865 shares in the company, valued at $22,817,077.35. The trade was a 4.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Joshua Ofman sold 61,452 shares of GRAIL stock in a transaction that occurred on Monday, September 21st. The shares were sold at an average price of $97.74, for a total transaction of $6,006,318.48. Following the sale, the chief executive officer owned 362,271 shares of the company’s stock, valued at approximately $35,408,367.54. The trade was a 14.50% 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. Insiders have sold a total of 129,944 shares of company stock worth $14,832,805 in the last three months. Insiders own 1.83% of the company’s stock.

Hedge Funds Weigh In On GRAIL

A number of institutional investors have recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. acquired a new stake in GRAIL in the third quarter worth about $320,000. VIRGINIA RETIREMENT SYSTEMS ET Al lifted its stake in GRAIL by 2.3% in the 3rd quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 17,550 shares of the company’s stock worth $2,459,000 after acquiring an additional 400 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its holdings in shares of GRAIL by 21.7% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 11,350 shares of the company’s stock valued at $1,550,000 after acquiring an additional 2,020 shares in the last quarter. North Star Investment Management Corp. increased its stake in shares of GRAIL by 809.1% in the third quarter. North Star Investment Management Corp. now owns 300 shares of the company’s stock worth $42,000 after acquiring an additional 267 shares during the last quarter. Finally, Simplify Asset Management Inc. acquired a new stake in GRAIL in the third quarter valued at approximately $6,021,000.

GRAIL Company Profile

(Get Free Report)

GRAIL, Inc (NASDAQ: GRAL) is a healthcare company focused on developing blood-based screening technologies for the early detection of cancer. Its principal product is Galleri, a multi-cancer early detection test designed to identify DNA patterns associated with multiple types of cancer from a single blood sample.

Galleri is intended for use alongside recommended cancer screenings and is available by prescription through qualified healthcare providers in the United States. The test is offered as a laboratory-developed test and has not been approved or cleared by the U.S.

Further Reading

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