GRAIL (NASDAQ:GRAL) Rating Increased to Hold at Wall Street Zen

Wall Street Zen upgraded shares of GRAIL (NASDAQ:GRAL) from a sell rating to a hold rating in a research report released on Saturday.

A number of other analysts have also commented on GRAL. Mizuho started coverage on shares of GRAIL in a research note on Friday, April 10th. They set a “neutral” rating and a $58.00 price target for the company. Guggenheim decreased their price target on shares of GRAIL from $130.00 to $75.00 and set a “buy” rating for the company in a research note on Monday, March 30th. Canaccord Genuity Group decreased their price target on shares of GRAIL from $105.00 to $80.00 and set a “buy” rating for the company in a research note on Friday, February 20th. Robert W. Baird set a $70.00 price target on shares of GRAIL in a research note on Wednesday. Finally, TD Cowen boosted their price target on shares of GRAIL from $65.00 to $69.00 and gave the company a “buy” rating in a research note on Wednesday. Four equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $67.88.

GRAIL Stock Down 2.0%

NASDAQ:GRAL opened at $61.64 on Friday. The firm has a market capitalization of $2.65 billion, a P/E ratio of -5.94 and a beta of 3.03. The company has a fifty day moving average of $51.05 and a 200-day moving average of $78.44. GRAIL has a twelve month low of $29.95 and a twelve month high of $118.84.

GRAIL (NASDAQ:GRAL) last announced its quarterly earnings results on Tuesday, May 5th. The company reported ($2.29) EPS for the quarter, beating analysts’ consensus estimates of ($2.76) by $0.47. The business had revenue of $40.79 million during the quarter, compared to analyst estimates of $39.16 million. GRAIL had a negative net margin of 253.22% and a negative return on equity of 16.63%. On average, analysts anticipate that GRAIL will post -11.09 EPS for the current fiscal year.

Insiders Place Their Bets

In other GRAIL news, President Joshua J. Ofman sold 61,665 shares of GRAIL stock in a transaction on Wednesday, April 8th. The shares were sold at an average price of $49.92, for a total transaction of $3,078,316.80. Following the transaction, the president directly owned 371,216 shares of the company’s stock, valued at $18,531,102.72. The trade was a 14.25% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Aaron Freidin sold 45,806 shares of GRAIL stock in a transaction on Wednesday, April 8th. The stock was sold at an average price of $49.92, for a total transaction of $2,286,635.52. Following the transaction, the chief financial officer directly owned 260,669 shares in the company, valued at $13,012,596.48. This represents a 14.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 310,267 shares of company stock valued at $15,485,396 in the last three months. 1.85% of the stock is currently owned by insiders.

Hedge Funds Weigh In On GRAIL

A number of hedge funds have recently bought and sold shares of GRAL. WIM INVESTMENT MANAGEMENT Ltd boosted its holdings in shares of GRAIL by 200.0% in the 3rd quarter. WIM INVESTMENT MANAGEMENT Ltd now owns 63,000 shares of the company’s stock worth $3,725,000 after buying an additional 42,000 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of GRAIL by 159.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 206,120 shares of the company’s stock worth $12,188,000 after buying an additional 126,576 shares during the last quarter. Farallon Capital Management LLC boosted its holdings in shares of GRAIL by 168.7% in the 3rd quarter. Farallon Capital Management LLC now owns 1,349,000 shares of the company’s stock worth $79,766,000 after buying an additional 847,000 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new position in shares of GRAIL in the 3rd quarter worth about $885,000. Finally, Trifecta Capital Advisors LLC boosted its holdings in shares of GRAIL by 89.9% in the 3rd quarter. Trifecta Capital Advisors LLC now owns 21,650 shares of the company’s stock worth $1,280,000 after buying an additional 10,250 shares during the last quarter.

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.