GRAIL (NASDAQ:GRAL) Trading 10.3% Higher – What’s Next?

GRAIL, Inc. (NASDAQ:GRAL) shares rose 10.3% on Thursday . The stock traded as high as $79.76 and last traded at $81.59. Approximately 431,117 shares were traded during mid-day trading, a decline of 53% from the average daily volume of 926,598 shares. The stock had previously closed at $73.96.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on GRAL. The Goldman Sachs Group assumed coverage on shares of GRAIL in a research report on Friday, June 5th. They set a “neutral” rating and a $60.00 price objective on the stock. Wolfe Research started coverage on GRAIL in a research report on Tuesday, June 2nd. They issued a “peer perform” rating for the company. Mizuho upped their price target on GRAIL from $58.00 to $65.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 15th. Weiss Ratings reiterated a “sell (d-)” rating on shares of GRAIL in a report on Friday, July 17th. Finally, TD Cowen reissued a “buy” rating on shares of GRAIL in a research note on Wednesday, July 15th. Four investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $67.78.

GRAIL Stock Up 2.0%

The stock has a market capitalization of $3.55 billion, a P/E ratio of -8.16 and a beta of 3.24. The business’s 50 day simple moving average is $69.01 and its two-hundred day simple moving average is $64.35.

GRAIL (NASDAQ:GRAL) last issued its quarterly earnings data on Wednesday, August 5th. The company reported ($2.56) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($2.66) by $0.10. The firm had revenue of $44.69 million during the quarter, compared to analysts’ expectations of $42.39 million. GRAIL had a negative net margin of 236.95% and a negative return on equity of 15.88%. Analysts predict that GRAIL, Inc. will post -10.41 earnings per share for the current year.

Insiders Place Their Bets

In other GRAIL news, insider Andrew John Partridge sold 1,491 shares of GRAIL stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $61.08, for a total transaction of $91,070.28. Following the completion of the transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.83% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of GRAL. Parallel Advisors LLC raised its position in GRAIL by 5.2% in the 4th quarter. Parallel Advisors LLC now owns 2,667 shares of the company’s stock valued at $228,000 after buying an additional 133 shares during the last quarter. Comerica Bank lifted its stake in GRAIL by 59.2% during the 3rd quarter. Comerica Bank now owns 465 shares of the company’s stock valued at $27,000 after acquiring an additional 173 shares in the last quarter. Prosperity Consulting Group LLC boosted its holdings in GRAIL by 6.9% during the 1st quarter. Prosperity Consulting Group LLC now owns 3,881 shares of the company’s stock worth $201,000 after acquiring an additional 250 shares during the last quarter. Rossby Financial LCC boosted its holdings in GRAIL by 25.0% during the 4th quarter. Rossby Financial LCC now owns 1,250 shares of the company’s stock worth $107,000 after acquiring an additional 250 shares during the last quarter. Finally, Blair William & Co. IL grew its stake in shares of GRAIL by 5.3% in the 3rd quarter. Blair William & Co. IL now owns 5,356 shares of the company’s stock worth $317,000 after acquiring an additional 268 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.