GRAIL (NASDAQ:GRAL) Hits New 1-Year High – Still a Buy?

Shares of GRAIL, Inc. (NASDAQ:GRAL) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $118.78 and last traded at $116.5050, with a volume of 532869 shares changing hands. The stock had previously closed at $101.07.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on GRAL shares. Weiss Ratings restated a “sell (d-)” rating on shares of GRAIL in a report on Thursday. Morgan Stanley raised their price target 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 shares of GRAIL in a research report on Friday, October 3rd. Guggenheim upgraded shares of GRAIL from a “neutral” rating to a “buy” rating and set a $100.00 price objective for the company in a research note on Wednesday, November 12th. Finally, Canaccord Genuity Group lifted their target price on shares of GRAIL from $85.00 to $105.00 and gave the company a “buy” rating in a report on Monday, November 17th. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $97.50.

GRAIL Stock Down 9.6%

The business’s 50 day moving average price is $96.58 and its 200-day moving average price is $67.52. The company has a market cap of $4.09 billion, a PE ratio of -9.02 and a beta of 4.52.

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

Hedge Funds Weigh In On GRAIL

A number of institutional investors have recently made changes to their positions in GRAL. Burney Co. acquired a new stake in shares of GRAIL during the fourth quarter worth approximately $412,000. Bouvel Investment Partners LLC bought a new position in GRAIL during the 4th quarter valued at $1,289,000. Massachusetts Financial Services Co. MA bought a new position in GRAIL during the 4th quarter valued at $214,000. Canton Hathaway LLC acquired a new position in GRAIL during the 4th quarter worth $100,000. Finally, Perigon Wealth Management LLC increased its position in shares of GRAIL by 0.7% in the 4th quarter. Perigon Wealth Management LLC now owns 19,450 shares of the company’s stock worth $1,665,000 after purchasing an additional 133 shares during 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.