GRAIL, Inc. (NASDAQ:GRAL) Given Average Rating of “Hold” by Brokerages

GRAIL, Inc. (NASDAQ:GRAL) has been assigned a consensus recommendation of “Hold” from the eight analysts that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $67.8750.

A number of brokerages have recently issued reports on GRAL. TD Cowen increased their price target on shares of GRAIL from $65.00 to $69.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Robert W. Baird set a $70.00 price target on shares of GRAIL in a report on Wednesday, May 6th. Wall Street Zen upgraded shares of GRAIL from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Mizuho began coverage on shares of GRAIL in a report on Friday, April 10th. They issued a “neutral” rating and a $58.00 price target for the company. Finally, Morgan Stanley cut their price target on shares of GRAIL from $110.00 to $60.00 and set an “equal weight” rating for the company in a report on Tuesday, February 24th.

GRAIL Stock Down 3.0%

Shares of GRAL opened at $71.68 on Friday. The company has a 50-day simple moving average of $55.93 and a 200-day simple moving average of $76.22. The company has a market capitalization of $3.08 billion, a PE ratio of -6.91 and a beta of 3.03. GRAIL has a 52-week low of $29.95 and a 52-week high of $118.84.

GRAIL (NASDAQ:GRAL) last announced its quarterly earnings results on Tuesday, May 5th. The company reported ($2.29) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($2.76) by $0.47. The business had revenue of $40.79 million during the quarter, compared to the consensus estimate of $39.16 million. GRAIL had a negative net margin of 253.22% and a negative return on equity of 16.42%. On average, research analysts anticipate that GRAIL will post -10.91 EPS for the current year.

Insider Buying and Selling at GRAIL

In other GRAIL news, President Joshua J. Ofman sold 61,665 shares of the firm’s stock in a transaction dated Wednesday, April 8th. The shares were sold at an average price of $49.92, for a total transaction of $3,078,316.80. Following the completion of the transaction, the president directly owned 371,216 shares in the company, valued at approximately $18,531,102.72. This trade represents a 14.25% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Aaron Freidin sold 45,806 shares of the firm’s stock in a transaction dated Wednesday, April 8th. The shares were sold at an average price of $49.92, for a total transaction of $2,286,635.52. Following the transaction, the chief financial officer owned 260,669 shares of the company’s stock, valued at $13,012,596.48. This trade represents a 14.95% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 310,267 shares of company stock worth $15,485,396. 1.83% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On GRAIL

Hedge funds have recently added to or reduced their stakes in the business. WIM INVESTMENT MANAGEMENT Ltd grew its holdings in shares of GRAIL by 200.0% during the third quarter. WIM INVESTMENT MANAGEMENT Ltd now owns 63,000 shares of the company’s stock worth $3,725,000 after buying an additional 42,000 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of GRAIL by 159.1% during the third quarter. JPMorgan Chase & Co. now owns 206,120 shares of the company’s stock worth $12,188,000 after buying an additional 126,576 shares in the last quarter. Farallon Capital Management LLC grew its holdings in shares of GRAIL by 168.7% during the third quarter. Farallon Capital Management LLC now owns 1,349,000 shares of the company’s stock worth $79,766,000 after buying an additional 847,000 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in shares of GRAIL during the third quarter worth about $885,000. Finally, Trifecta Capital Advisors LLC grew its holdings in shares of GRAIL by 89.9% during the third quarter. Trifecta Capital Advisors LLC now owns 21,650 shares of the company’s stock worth $1,280,000 after buying an additional 10,250 shares in the last quarter.

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.