GRAIL (NASDAQ:GRAL) Trading Down 7.7% – Here’s Why

GRAIL, Inc. (NASDAQ:GRAL) shares fell 7.7% on Friday . The company traded as low as $106.78 and last traded at $107.1120. 88,259 shares traded hands during mid-day trading, a decline of 88% from the average session volume of 753,262 shares. The stock had previously closed at $116.06.

Wall Street Analysts Forecast Growth

GRAL has been the topic of several research analyst reports. Guggenheim raised GRAIL from a “neutral” rating to a “buy” rating and set a $100.00 target price on the stock in a research report on Wednesday, November 12th. Morgan Stanley increased their price target on shares of GRAIL from $85.00 to $110.00 and gave the company an “equal weight” rating in a research note on Monday, December 1st. UBS Group set a $75.00 price objective on shares of GRAIL in a report on Friday, October 3rd. Canaccord Genuity Group upped 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. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of GRAIL in a research note on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $97.50.

GRAIL Trading Down 8.3%

The stock has a fifty day simple moving average of $96.07 and a two-hundred day simple moving average of $67.10. The company has a market cap of $4.15 billion, a PE ratio of -9.14 and a beta of 4.52.

GRAIL (NASDAQ:GRAL) last posted its quarterly earnings results on Wednesday, November 12th. The company reported ($2.46) earnings per share for the quarter, beating analysts’ consensus estimates of ($3.40) by $0.94. The firm had revenue of $36.19 million for the quarter, compared to the consensus estimate of $33.83 million. GRAIL had a negative return on equity of 15.69% and a negative net margin of 286.43%. As a group, equities research analysts anticipate that GRAIL, Inc. will post -15.15 EPS for the current fiscal year.

Institutional Trading of GRAIL

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Royal Bank of Canada raised its position in shares of GRAIL by 17.7% during the 1st quarter. Royal Bank of Canada now owns 88,082 shares of the company’s stock worth $2,250,000 after purchasing an additional 13,264 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of GRAIL by 28.2% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,835 shares of the company’s stock worth $76,000 after acquiring an additional 623 shares during the last quarter. NewEdge Advisors LLC raised its holdings in shares of GRAIL by 390.3% in the first quarter. NewEdge Advisors LLC now owns 1,760 shares of the company’s stock worth $45,000 after acquiring an additional 1,401 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of GRAIL by 37.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 92,465 shares of the company’s stock valued at $2,362,000 after acquiring an additional 25,177 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in shares of GRAIL by 21.4% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 34,195 shares of the company’s stock valued at $1,758,000 after acquiring an additional 6,032 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.