Brokerages Set GRAIL, Inc. (NASDAQ:GRAL) Target Price at $67.78

Shares of GRAIL, Inc. (NASDAQ:GRAL) have received an average recommendation of “Hold” from the ten ratings firms that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and four have given a buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $67.7778.

Several research firms have recently weighed in on GRAL. The Goldman Sachs Group initiated coverage on shares of GRAIL in a research note on Friday, June 5th. They issued a “neutral” rating and a $60.00 price objective for the company. Robert W. Baird set a $70.00 price target on shares of GRAIL in a report on Wednesday, May 6th. Wolfe Research started coverage on shares of GRAIL in a research note on Tuesday, June 2nd. They issued a “peer perform” rating for the company. Wall Street Zen upgraded GRAIL from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Finally, Piper Sandler boosted their price objective on GRAIL from $54.00 to $56.00 and gave the company a “neutral” rating in a report on Wednesday, May 6th.

Insider Transactions at GRAIL

In other GRAIL news, insider Andrew John Partridge sold 1,491 shares of the business’s stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $61.08, for a total transaction of $91,070.28. Following the completion of the sale, the insider owned 163,738 shares in the company, valued at approximately $10,001,117.04. The trade was a 0.90% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 1.83% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Primecap Management Co. CA bought a new position in GRAIL in the 2nd quarter valued at about $148,836,000. Farallon Capital Management LLC raised its stake in shares of GRAIL by 73.7% in the fourth quarter. Farallon Capital Management LLC now owns 2,342,684 shares of the company’s stock worth $200,510,000 after purchasing an additional 993,684 shares during the last quarter. Bank of America Corp DE bought a new position in shares of GRAIL in the second quarter valued at approximately $49,389,000. BlackRock Inc. lifted its holdings in shares of GRAIL by 20.5% in the second quarter. BlackRock Inc. now owns 3,577,075 shares of the company’s stock valued at $244,207,000 after purchasing an additional 608,539 shares in the last quarter. Finally, Morgan Stanley boosted its position in shares of GRAIL by 63.8% during the fourth quarter. Morgan Stanley now owns 1,511,687 shares of the company’s stock valued at $129,385,000 after buying an additional 588,647 shares during the last quarter.

GRAIL Stock Performance

Shares of NASDAQ GRAL opened at $69.95 on Thursday. The company’s 50 day moving average price is $67.75 and its 200-day moving average price is $64.79. GRAIL has a 52-week low of $29.95 and a 52-week high of $118.84. The company has a market capitalization of $3.12 billion, a P/E ratio of -7.17 and a beta of 3.24.

GRAIL (NASDAQ:GRAL) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($2.56) earnings per share for the quarter, topping 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 company had revenue of $44.69 million during the quarter, compared to analysts’ expectations of $42.39 million. Analysts forecast that GRAIL will post -10.41 earnings per share for the current year.

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.