GRAIL (NASDAQ:GRAL) Trading Down 5.7% – Here’s What Happened

GRAIL, Inc. (NASDAQ:GRAL)’s stock price dropped 5.7% during mid-day trading on Thursday . The company traded as low as $98.41 and last traded at $98.73. Approximately 295,338 shares changed hands during trading, a decline of 55% from the average daily volume of 653,041 shares. The stock had previously closed at $104.75.

Analyst Upgrades and Downgrades

GRAL has been the topic of a number of recent research reports. Canaccord Genuity Group lifted their price target on shares of GRAIL from $85.00 to $105.00 and gave the company a “buy” rating in a research report on Monday, November 17th. Morgan Stanley lifted their target price on shares of GRAIL from $85.00 to $110.00 and gave the company an “equal weight” rating in a report on Monday, December 1st. UBS Group set a $75.00 price target on GRAIL in a report on Friday, October 3rd. Guggenheim upgraded GRAIL from a “neutral” rating to a “buy” rating and set a $100.00 price objective on the stock in a research note on Wednesday, November 12th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of GRAIL in a research report on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $97.50.

GRAIL Stock Performance

The firm has a fifty day simple moving average of $94.50 and a 200-day simple moving average of $65.54. The company has a market capitalization of $3.77 billion, a PE ratio of -8.31 and a beta of 4.52.

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

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of GRAL. Farallon Capital Management LLC raised its position in shares of GRAIL by 168.7% during the 3rd quarter. Farallon Capital Management LLC now owns 1,349,000 shares of the company’s stock valued at $79,766,000 after acquiring an additional 847,000 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of GRAIL by 60.4% during the second quarter. Geode Capital Management LLC now owns 757,770 shares of the company’s stock worth $38,969,000 after purchasing an additional 285,331 shares during the period. UBS Group AG raised its holdings in shares of GRAIL by 54.2% during the third quarter. UBS Group AG now owns 360,456 shares of the company’s stock worth $21,314,000 after purchasing an additional 126,738 shares during the period. Bank of New York Mellon Corp lifted its position in shares of GRAIL by 7.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 350,979 shares of the company’s stock worth $18,047,000 after buying an additional 25,548 shares during the last quarter. Finally, Bank of America Corp DE boosted its holdings in shares of GRAIL by 121.0% in the 3rd quarter. Bank of America Corp DE now owns 335,365 shares of the company’s stock valued at $19,830,000 after buying an additional 183,611 shares during the period.

GRAIL Company 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.