Allianz Asset Management GmbH Purchases 174,959 Shares of GRAIL, Inc. $GRAL

Allianz Asset Management GmbH raised its holdings in GRAIL, Inc. (NASDAQ:GRAL) by 145.9% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 294,835 shares of the company’s stock after purchasing an additional 174,959 shares during the period. Allianz Asset Management GmbH’s holdings in GRAIL were worth $17,434,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in GRAL. Teacher Retirement System of Texas boosted its stake in GRAIL by 5.5% in the 2nd quarter. Teacher Retirement System of Texas now owns 8,538 shares of the company’s stock valued at $439,000 after buying an additional 447 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of GRAIL by 28.2% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,835 shares of the company’s stock valued at $76,000 after acquiring an additional 623 shares during the period. NewEdge Advisors LLC lifted its holdings in shares of GRAIL by 44.0% during the second quarter. NewEdge Advisors LLC now owns 2,535 shares of the company’s stock valued at $130,000 after acquiring an additional 775 shares during the period. Cypress Capital Management LLC WY boosted its stake in shares of GRAIL by 64.3% in the 3rd quarter. Cypress Capital Management LLC WY now owns 2,300 shares of the company’s stock valued at $136,000 after purchasing an additional 900 shares in the last quarter. Finally, Gladstone Institutional Advisory LLC grew its holdings in shares of GRAIL by 6.4% in the 3rd quarter. Gladstone Institutional Advisory LLC now owns 15,534 shares of the company’s stock worth $919,000 after purchasing an additional 937 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on GRAL. Guggenheim lifted their target price on shares of GRAIL from $100.00 to $130.00 and gave the company a “buy” rating in a research note on Monday, January 26th. Canaccord Genuity Group lifted their price objective on GRAIL from $85.00 to $105.00 and gave the company a “buy” rating in a research report on Monday, November 17th. Weiss Ratings reissued a “sell (d-)” rating on shares of GRAIL in a research note on Thursday, January 22nd. Finally, Morgan Stanley raised their target price on GRAIL from $85.00 to $110.00 and gave the company an “equal weight” rating in a research note on Monday, December 1st. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $105.00.

GRAIL Stock Up 6.4%

Shares of GRAL opened at $100.07 on Friday. The stock’s fifty day simple moving average is $97.26 and its 200-day simple moving average is $72.12. The firm has a market capitalization of $3.90 billion, a PE ratio of -8.60 and a beta of 4.52. GRAIL, Inc. has a 12-month low of $20.44 and a 12-month high of $118.84.

GRAIL (NASDAQ:GRAL) last issued its quarterly earnings results on Wednesday, November 12th. The company reported ($2.46) EPS for the quarter, topping the consensus estimate of ($3.40) by $0.94. The company had revenue of $36.19 million during the quarter, compared to analysts’ expectations of $33.83 million. GRAIL had a negative net margin of 286.43% and a negative return on equity of 15.69%. Analysts anticipate that GRAIL, Inc. will post -15.15 EPS for the current year.

About GRAIL

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.