Commerce Bank bought a new position in shares of GRAIL, Inc. (NASDAQ:GRAL – Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 26,981 shares of the company’s stock, valued at approximately $1,842,000. Commerce Bank owned approximately 0.06% of GRAIL at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of GRAL. Ieq Capital LLC acquired a new stake in shares of GRAIL during the second quarter worth about $886,000. Green Alpha Advisors LLC purchased a new stake in shares of GRAIL during the second quarter worth $355,000. Allworth Financial LP acquired a new stake in shares of GRAIL in the second quarter valued at $35,000. E Fund Management Co. Ltd. acquired a new stake in shares of GRAIL in the second quarter valued at $380,000. Finally, BlackRock Inc. boosted its holdings in GRAIL by 20.5% in the second quarter. BlackRock Inc. now owns 3,577,075 shares of the company’s stock valued at $244,207,000 after purchasing an additional 608,539 shares during the period.
Wall Street Analysts Forecast Growth
Several research analysts recently commented on the company. Mizuho boosted their target price on GRAIL from $58.00 to $65.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 15th. The Goldman Sachs Group started coverage on GRAIL in a research note on Friday, June 5th. They issued a “neutral” rating and a $60.00 price objective for the company. Weiss Ratings restated a “sell (d-)” rating on shares of GRAIL in a research note on Friday, July 17th. Robert W. Baird set a $70.00 target price on shares of GRAIL in a research note on Wednesday, May 6th. Finally, Wolfe Research started coverage on shares of GRAIL in a research note on Tuesday, June 2nd. They issued a “peer perform” rating for the company. Four investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $67.78.
GRAIL Price Performance
GRAIL stock opened at $82.54 on Wednesday. GRAIL, Inc. has a 1-year low of $30.82 and a 1-year high of $118.84. The stock has a market cap of $3.69 billion, a PE ratio of -8.47 and a beta of 3.24. The stock’s fifty day moving average is $69.83 and its two-hundred day moving average is $63.76.
GRAIL (NASDAQ:GRAL – Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The company reported ($2.56) earnings per share (EPS) for the quarter, topping 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 analysts’ expectations of $42.39 million. On average, research analysts expect that GRAIL, Inc. will post -10.41 earnings per share for the current fiscal year.
Insiders Place Their Bets
In related news, insider Andrew John Partridge sold 1,491 shares of the company’s 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 directly owned 163,738 shares of the company’s stock, valued at $10,001,117.04. This represents a 0.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.83% of the stock is currently owned by insiders.
GRAIL 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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