GRAIL (NASDAQ:GRAL) Shares Down 12.2% – Here’s Why

GRAIL, Inc. (NASDAQ:GRALGet Free Report) was down 12.2% on Thursday . The stock traded as low as $65.10 and last traded at $65.1210. Approximately 494,903 shares changed hands during mid-day trading, a decline of 47% from the average session volume of 925,546 shares. The stock had previously closed at $74.18.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on GRAL. The Goldman Sachs Group assumed coverage on GRAIL in a research note on Friday, June 5th. They issued a “neutral” rating and a $60.00 target price for the company. Piper Sandler lifted their target price on shares of GRAIL from $54.00 to $56.00 and gave the company a “neutral” rating in a report on Wednesday, May 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of GRAIL in a research note on Friday, July 17th. Mizuho boosted their price objective on shares of GRAIL from $58.00 to $65.00 and gave the stock a “neutral” rating in a report on Wednesday, July 15th. Finally, Wolfe Research began coverage on GRAIL in a research report on Tuesday, June 2nd. They issued a “peer perform” rating on the stock. Four investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $67.78.

View Our Latest Research Report on GRAIL

GRAIL Stock Performance

The company has a market capitalization of $2.98 billion, a PE ratio of -7.13 and a beta of 3.24. The company’s fifty day moving average is $66.71 and its 200-day moving average is $66.50.

GRAIL (NASDAQ:GRALGet Free Report) last released its quarterly earnings data on Wednesday, August 5th. The company reported ($2.56) earnings per share for the quarter, topping analysts’ consensus estimates of ($2.66) by $0.10. GRAIL had a negative return on equity of 16.05% and a negative net margin of 236.95%.The firm had revenue of $44.69 million during the quarter, compared to analyst estimates of $42.39 million. On average, sell-side analysts expect that GRAIL, Inc. will post -10.91 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Andrew John Partridge sold 1,491 shares of GRAIL stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $61.08, for a total value of $91,070.28. Following the completion of the transaction, the insider owned 163,738 shares in the company, valued at approximately $10,001,117.04. The trade was a 0.90% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.83% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of GRAL. N.E.W. Advisory Services LLC bought a new position in GRAIL in the 4th quarter worth about $26,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of GRAIL during the fourth quarter valued at approximately $28,000. Elyxium Wealth LLC purchased a new stake in shares of GRAIL in the fourth quarter valued at approximately $31,000. Comerica Bank grew its stake in GRAIL by 59.2% in the third quarter. Comerica Bank now owns 465 shares of the company’s stock worth $27,000 after purchasing an additional 173 shares in the last quarter. Finally, Fifth Third Bancorp grew its stake in GRAIL by 15,733.3% in the first quarter. Fifth Third Bancorp now owns 475 shares of the company’s stock worth $25,000 after purchasing an additional 472 shares in the last quarter.

GRAIL Company Profile

(Get Free Report)

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.

Further Reading

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