GRAIL (NASDAQ:GRAL) Stock Price Up 6.9% – Time to Buy?
by Sarita Garza · The Markets DailyGRAIL, Inc. (NASDAQ:GRAL – Get Free Report)’s share price traded up 6.9% during mid-day trading on Thursday . The company traded as high as $113.09 and last traded at $115.9690. 510,514 shares changed hands during trading, a decline of 46% from the average daily volume of 948,330 shares. The stock had previously closed at $108.52.
Trending Headlines about GRAIL
Here are the key news stories impacting GRAIL this week:
- Positive Sentiment: FDA advisers backed Galleri’s safety and narrowly supported the evidence for its effectiveness. Although the efficacy vote was not decisive, the recommendation improves the test’s prospects for premarket approval. FDA advisers back safety of Grail’s cancer test
- Positive Sentiment: The advisory-panel vote brings Galleri closer to a final FDA ruling. Approval could expand GRAIL’s commercial opportunity and provide significant validation for its technology. GRAIL’s Multi-Cancer Blood Test Gets FDA Committee Vote
- Positive Sentiment: GRAIL reported findings from its PATHFINDER 2 study, adding clinical data for investors evaluating Galleri’s potential ahead of the FDA decision. GRAIL Reports PATHFINDER 2 Study Findings
- Positive Sentiment: Robert W. Baird raised its price target to $118 from $96 and maintained an “outperform” rating, citing improved confidence in Galleri’s regulatory outlook.
- Positive Sentiment: Institutional ownership trends were supportive: State Street increased its GRAIL position by 26.1% in the second quarter, while several other institutions also added shares.
- Neutral Sentiment: Trading was temporarily halted ahead of the FDA advisory meeting, underscoring the importance of the announcement and contributing to elevated volatility. GRAIL Trading Halted Ahead of FDA AdCom Meeting
- Negative Sentiment: Goldman Sachs initiated coverage with a “hold” rating, suggesting the recent rally may already reflect much of the near-term opportunity.
- Negative Sentiment: CEO Joshua Ofman sold 61,452 shares and CFO Aaron Freidin sold 4,100 shares under pre-arranged Rule 10b5-1 plans. The planned nature reduces the warning signal, but the insider selling may weigh modestly on sentiment.
- Negative Sentiment: Analyst sentiment remains mixed, with an average rating of “hold” and a consensus target of $75.10, below recent trading levels. GRAIL also remains unprofitable, with analysts forecasting a full-year loss.
Analysts Set New Price Targets
A number of equities research analysts recently commented on the stock. Wall Street Zen upgraded shares of GRAIL from a “sell” rating to a “hold” rating in a research report on Sunday, September 13th. UBS Group set a $84.00 price target on GRAIL in a report on Thursday, September 17th. TD Cowen restated a “buy” rating on shares of GRAIL in a research note on Thursday. Robert W. Baird increased their price objective on GRAIL from $96.00 to $118.00 and gave the stock an “outperform” rating in a research report on Tuesday. Finally, Mizuho raised their target price on GRAIL from $58.00 to $65.00 and gave the company a “neutral” rating in a report on Wednesday, July 15th. Five 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $75.10.
Read Our Latest Stock Report on GRAIL
GRAIL Price Performance
The stock has a 50-day simple moving average of $76.27 and a 200 day simple moving average of $64.72. The company has a market capitalization of $5.01 billion, a PE ratio of -11.50 and a beta of 3.25.
GRAIL (NASDAQ:GRAL – Get Free Report) last posted its earnings results on Wednesday, August 5th. The company reported ($2.56) earnings per share for the quarter, beating the consensus estimate of ($2.66) by $0.10. GRAIL had a negative return on equity of 15.88% and a negative net margin of 236.95%.The company had revenue of $44.69 million for the quarter, compared to analyst estimates of $42.39 million. As a group, research analysts predict that GRAIL, Inc. will post -10.41 EPS for the current fiscal year.
Insider Activity
In other GRAIL news, CFO Aaron Freidin sold 4,100 shares of the firm’s stock in a transaction dated Monday, September 21st. The shares were sold at an average price of $93.34, for a total transaction of $382,694.00. Following the completion of the transaction, the chief financial officer directly owned 248,983 shares in the company, valued at approximately $23,240,073.22. This trade represents a 1.62% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Joshua J. Ofman sold 61,452 shares of GRAIL stock in a transaction dated 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 transaction, the chief executive officer owned 362,271 shares of the company’s stock, valued at approximately $35,408,367.54. The trade was a 14.50% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 78,452 shares of company stock worth $7,485,691 over the last quarter. Insiders own 1.83% of the company’s stock.
Institutional Trading of GRAIL
Several institutional investors and hedge funds have recently modified their holdings of GRAL. Caitong International Asset Management Co. Ltd purchased a new position in shares of GRAIL during the 4th quarter worth approximately $28,000. Fifth Third Bancorp lifted its stake in GRAIL by 15,733.3% in the 1st quarter. Fifth Third Bancorp now owns 475 shares of the company’s stock valued at $25,000 after buying an additional 472 shares in the last quarter. Allworth Financial LP acquired a new stake in GRAIL during the 2nd quarter valued at $35,000. Geneos Wealth Management Inc. grew its holdings in GRAIL by 160.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 585 shares of the company’s stock valued at $30,000 after buying an additional 360 shares during the last quarter. Finally, Osbon Capital Management LLC purchased a new position in GRAIL during the fourth quarter worth $51,000.
About GRAIL
GRAIL, Inc is a healthcare company focused on developing blood-based tests for the early detection of cancer. Its technology uses genomic and epigenomic signals, including patterns of DNA methylation, to identify signals associated with multiple cancer types from a single blood sample.
The company’s primary product is Galleri, a prescription blood test designed to screen for signals of more than 50 types of cancer, including cancers that currently lack recommended screening methods. Galleri is intended to complement, not replace, guideline-recommended cancer screenings, and a positive result requires follow-up diagnostic testing to determine whether cancer is present and where it may be located.
GRAIL was founded in 2016 as a subsidiary of Illumina and became an independent publicly traded company following its separation from Illumina in 2021.
Recommended Stories
- Five stocks we like better than GRAIL
- 3 Restaurant Stocks Near 52-Week Lows as Consumer Pressure Builds
- Meta One Subscriptions Show Positive Early Signs, Analysts Forecast Long-Term Growth
- Is the Market Right or Wrong About These 4 High Short Interest Stocks?
- Power Play: Vistra Powers New Era’s AI Data Center Deal