GRAIL, Inc. (NASDAQ:GRAL – Get Free Report)’s share price was up 9.7% on Thursday . The stock traded as high as $66.86 and last traded at $67.0850. Approximately 149,536 shares changed hands during mid-day trading, a decline of 86% from the average daily volume of 1,061,188 shares. The stock had previously closed at $61.13.
Wall Street Analysts Forecast Growth
Several analysts recently weighed in on GRAL shares. Wolfe Research started coverage on GRAIL in a research note on Tuesday. They issued a “peer perform” rating on the stock. Canaccord Genuity Group cut their price target on GRAIL from $105.00 to $80.00 and set a “buy” rating on the stock in a research note on Friday, February 20th. Wall Street Zen upgraded GRAIL from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Morgan Stanley cut their price target on GRAIL from $110.00 to $60.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 24th. Finally, Guggenheim cut their price target on GRAIL from $130.00 to $75.00 and set a “buy” rating on the stock in a research note on Monday, March 30th. Four equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $67.00.
Read Our Latest Stock Report on GRAIL
GRAIL Trading Down 9.9%
GRAIL (NASDAQ:GRAL – Get Free Report) last issued its earnings results on Tuesday, May 5th. The company reported ($2.29) EPS for the quarter, beating the consensus estimate of ($2.76) by $0.47. The business had revenue of $40.79 million for the quarter, compared to the consensus estimate of $39.16 million. GRAIL had a negative return on equity of 16.42% and a negative net margin of 253.22%. Research analysts forecast that GRAIL, Inc. will post -10.99 earnings per share for the current year.
Insider Transactions at GRAIL
In other news, CFO Aaron Freidin sold 45,806 shares of the stock in a transaction on Wednesday, April 8th. The stock was sold at an average price of $49.92, for a total transaction of $2,286,635.52. Following the transaction, the chief financial officer directly owned 260,669 shares of the company’s stock, valued at $13,012,596.48. This represents a 14.95% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Andrew John Partridge sold 1,491 shares of the 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 $10,001,117.04. The trade was a 0.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 245,354 shares of company stock valued at $12,238,545 over the last 90 days. 1.83% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On GRAIL
Several hedge funds and other institutional investors have recently modified their holdings of GRAL. Farallon Capital Management LLC lifted its holdings in shares of GRAIL by 73.7% during 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 period. Morgan Stanley lifted its holdings in shares of GRAIL by 63.8% during the 4th quarter. Morgan Stanley now owns 1,511,687 shares of the company’s stock valued at $129,385,000 after buying an additional 588,647 shares during the period. State Street Corp lifted its holdings in shares of GRAIL by 38.8% during the 4th quarter. State Street Corp now owns 1,827,523 shares of the company’s stock valued at $156,418,000 after buying an additional 510,546 shares during the period. Baker BROS. Advisors LP lifted its holdings in shares of GRAIL by 27.9% during 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 during the period. Finally, Alyeska Investment Group L.P. bought a new position in GRAIL in the 4th quarter worth $37,874,000.
GRAIL Company Profile
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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