GRAIL (NASDAQ:GRAL – Get Free Report) had its price objective increased by analysts at Guggenheim from $75.00 to $155.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has a “buy” rating on the stock. Guggenheim’s target price suggests a potential upside of 12.47% from the company’s current price.
Several other research analysts also recently issued reports on GRAL. Mizuho upped their price target on shares of GRAIL from $65.00 to $100.00 and gave the stock a “neutral” rating in a report on Friday, September 25th. TD Cowen restated a “buy” rating on shares of GRAIL in a research report on Thursday, September 24th. Wall Street Zen raised GRAIL from a “sell” rating to a “hold” rating in a report on Sunday, September 13th. Canaccord Genuity Group upped their target price on GRAIL from $80.00 to $150.00 and gave the stock a “buy” rating in a report on Monday. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of GRAIL in a research report on Friday, July 17th. Five 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 company’s stock. According to data from MarketBeat.com, GRAIL currently has an average rating of “Hold” and a consensus target price of $93.60.
Check Out Our Latest Stock Analysis on GRAL
GRAIL Stock Performance
GRAIL (NASDAQ:GRAL – Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The company reported ($2.56) EPS for the quarter, beating the consensus estimate of ($2.66) by $0.10. GRAIL had a negative net margin of 236.95% and a negative return on equity of 15.88%. The business had revenue of $44.69 million during the quarter, compared to the consensus estimate of $42.39 million. Equities research analysts forecast that GRAIL will post -10.41 earnings per share for the current year.
Insider Buying and Selling at GRAIL
In related news, CFO Aaron Freidin sold 4,100 shares of the stock in a transaction on Monday, September 21st. The stock was sold at an average price of $93.34, for a total value of $382,694.00. Following the completion of the sale, the chief financial officer directly owned 248,983 shares in the company, valued at $23,240,073.22. This represents a 1.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Joshua Ofman sold 61,452 shares of the firm’s 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 transaction, the chief executive officer directly owned 362,271 shares of the company’s stock, valued at approximately $35,408,367.54. This represents 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. In the last three months, insiders sold 78,452 shares of company stock worth $7,485,691. 1.83% of the stock is currently owned by insiders.
Institutional Investors Weigh In On GRAIL
Several institutional investors and hedge funds have recently made changes to their positions in the stock. State Street Corp lifted its stake in shares of GRAIL by 26.1% in the second quarter. State Street Corp now owns 2,385,514 shares of the company’s stock worth $162,859,000 after acquiring an additional 493,621 shares during the period. The Manufacturers Life Insurance Company increased its position in GRAIL by 26.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 21,597 shares of the company’s stock valued at $1,474,000 after purchasing an additional 4,498 shares during the period. Integrated Wealth Concepts LLC acquired a new stake in GRAIL during the 2nd quarter valued at approximately $82,000. Arizona State Retirement System raised its holdings in GRAIL by 8.6% during the 2nd quarter. Arizona State Retirement System now owns 10,470 shares of the company’s stock worth $715,000 after purchasing an additional 833 shares during the last quarter. Finally, Nykredit A S bought a new position in GRAIL during the 2nd quarter worth approximately $96,000.
About GRAIL
GRAIL, Inc is a healthcare company focused on developing blood-based technologies for the early detection of cancer. Its goal is to identify cancer signals before symptoms appear, when treatment may be more effective, by applying genomics, machine learning and other analytical methods to blood samples.
The company’s primary product is the Galleri multi-cancer early detection test, a prescription laboratory-developed test designed to screen for signals associated with multiple types of cancer from a single blood draw.
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