GRAIL, Inc. (NASDAQ:GRAL) Receives $67.88 Average Target Price from Brokerages

Shares of GRAIL, Inc. (NASDAQ:GRAL) have earned a consensus recommendation of “Hold” from the nine ratings firms that are covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $67.8750.

A number of research firms have recently weighed in on GRAL. Weiss Ratings reissued a “sell (d-)” rating on shares of GRAIL in a research report on Tuesday, April 21st. Morgan Stanley reduced their price target on shares of GRAIL from $110.00 to $60.00 and set an “equal weight” rating for the company in a report on Tuesday, February 24th. Wall Street Zen upgraded shares of GRAIL from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Wolfe Research assumed coverage on shares of GRAIL in a research note on Tuesday. They set a “peer perform” rating on the stock. Finally, Guggenheim dropped their price target on shares of GRAIL from $130.00 to $75.00 and set a “buy” rating on the stock in a research report on Monday, March 30th.

GRAIL Stock Up 2.1%

Shares of NASDAQ:GRAL opened at $61.13 on Friday. GRAIL has a 52-week low of $29.95 and a 52-week high of $118.84. The company has a market capitalization of $2.62 billion, a price-to-earnings ratio of -5.89 and a beta of 3.15. The company has a 50 day moving average of $56.75 and a two-hundred day moving average of $75.69.

GRAIL (NASDAQ:GRAL) last released its quarterly earnings results on Tuesday, May 5th. The company reported ($2.29) earnings per share for the quarter, topping analysts’ consensus estimates of ($2.76) by $0.47. GRAIL had a negative net margin of 253.22% and a negative return on equity of 16.42%. The business had revenue of $40.79 million during the quarter, compared to the consensus estimate of $39.16 million. On average, equities analysts anticipate that GRAIL will post -10.99 earnings per share for the current year.

Insiders Place Their Bets

In other GRAIL news, CEO Robert P. Ragusa sold 123,502 shares of the firm’s stock in a transaction dated Wednesday, April 8th. The shares were sold at an average price of $49.92, for a total value of $6,165,219.84. Following the completion of the transaction, the chief executive officer directly owned 518,582 shares in the company, valued at $25,887,613.44. This trade represents a 19.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, President Joshua J. Ofman sold 61,665 shares of the firm’s stock in a transaction dated Wednesday, April 8th. The stock was sold at an average price of $49.92, for a total transaction of $3,078,316.80. Following the completion of the transaction, the president owned 371,216 shares of the company’s stock, valued at approximately $18,531,102.72. The trade was a 14.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 243,863 shares of company stock worth $12,147,474. 1.83% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On GRAIL

Several institutional investors and hedge funds have recently bought and sold shares of GRAL. Farallon Capital Management LLC grew its stake in GRAIL by 73.7% during the 4th quarter. Farallon Capital Management LLC now owns 2,342,684 shares of the company’s stock valued at $200,510,000 after acquiring an additional 993,684 shares in the last quarter. Morgan Stanley boosted its position in GRAIL by 63.8% during the fourth quarter. Morgan Stanley now owns 1,511,687 shares of the company’s stock worth $129,385,000 after purchasing an additional 588,647 shares during the period. State Street Corp boosted its position in GRAIL by 38.8% during the fourth quarter. State Street Corp now owns 1,827,523 shares of the company’s stock worth $156,418,000 after purchasing an additional 510,546 shares during the period. Baker BROS. Advisors LP boosted its position in GRAIL by 27.9% during the fourth quarter. Baker BROS. Advisors LP now owns 2,085,333 shares of the company’s stock worth $178,484,000 after purchasing an additional 455,208 shares during the period. Finally, Alyeska Investment Group L.P. bought a new stake in GRAIL during the fourth quarter worth approximately $37,874,000.

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.