GRAIL (NASDAQ:GRAL) Stock Jumps 7% – What’s Next?
by Amy Steele · The Cerbat GemGRAIL, Inc. (NASDAQ:GRAL – Get Free Report)’s stock price was up 7% during trading on Friday. The stock traded as high as $140.81 and last traded at $141.85. Approximately 113,905 shares changed hands during trading, a decline of 88% from the average daily volume of 977,377 shares. The stock had previously closed at $132.61.
Wall Street Analyst Weigh In
A number of equities analysts have issued reports on GRAL shares. Guggenheim raised their price objective on shares of GRAIL from $75.00 to $155.00 and gave the company a “buy” rating in a research note on Thursday, October 1st. TD Cowen reissued a “buy” rating on shares of GRAIL in a research note on Thursday, September 24th. Canaccord Genuity Group raised their price target on GRAIL from $80.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, September 28th. Robert W. Baird upped their price objective on GRAIL from $96.00 to $118.00 and gave the company an “outperform” rating in a report on Tuesday, September 22nd. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of GRAIL in a research note on Friday, July 17th. Five equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $102.70.
View Our Latest Stock Analysis on GRAIL
GRAIL Stock Up 5.3%
The company’s fifty day simple moving average is $90.93 and its two-hundred day simple moving average is $71.59. The company has a market capitalization of $6.24 billion, a price-to-earnings ratio of -14.31 and a beta of 2.83.
GRAIL (NASDAQ:GRAL – Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The company reported ($2.56) EPS for the quarter, topping the consensus estimate of ($2.66) by $0.10. The business had revenue of $44.69 million for the quarter, compared to the consensus estimate of $42.39 million. GRAIL had a negative return on equity of 15.88% and a negative net margin of 236.95%. Equities research analysts expect that GRAIL, Inc. will post -10.41 earnings per share for the current year.
Insider Transactions at GRAIL
In related news, CEO Joshua J. Ofman sold 61,452 shares of the stock in a transaction that occurred on Monday, September 21st. The stock was sold at an average price of $97.74, for a total transaction of $6,006,318.48. Following the completion of the sale, the chief executive officer directly owned 362,271 shares of the company’s stock, valued at approximately $35,408,367.54. This represents a 14.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Andrew Partridge sold 7,873 shares of GRAIL stock in a transaction that occurred on Monday, October 5th. The shares were sold at an average price of $146.39, for a total transaction of $1,152,528.47. Following the completion of the transaction, the insider directly owned 155,865 shares in the company, valued at approximately $22,817,077.35. The trade was a 4.81% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 109,944 shares of company stock valued at $12,095,805 over the last 90 days. 1.83% of the stock is owned by company insiders.
Institutional Investors Weigh In On GRAIL
Several large investors have recently made changes to their positions in GRAL. Fifth Third Bancorp raised its holdings in shares of GRAIL by 15,733.3% during the first quarter. Fifth Third Bancorp now owns 475 shares of the company’s stock worth $25,000 after acquiring an additional 472 shares during the period. Caitong International Asset Management Co. Ltd acquired a new position in GRAIL in the 4th quarter worth $28,000. Geneos Wealth Management Inc. increased its holdings in GRAIL by 160.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 585 shares of the company’s stock worth $30,000 after purchasing an additional 360 shares in the last quarter. Allworth Financial LP acquired a new stake in shares of GRAIL in the 2nd quarter valued at about $35,000. Finally, Osbon Capital Management LLC bought a new stake in shares of GRAIL in the fourth quarter valued at about $51,000.
GRAIL Company Profile
GRAIL, Inc is a healthcare company focused on developing blood-based technologies for the early detection of cancer. Its goal is to identify cancer signals before symptoms appear, when treatment may be more effective, by applying genomics, machine learning and other analytical methods to blood samples.
The company’s primary product is the Galleri multi-cancer early detection test, a prescription laboratory-developed test designed to screen for signals associated with multiple types of cancer from a single blood draw.