GRAIL (NASDAQ:GRAL) Earns Peer Perform Rating from Analysts at Wolfe Research

Analysts at Wolfe Research began coverage on shares of GRAIL (NASDAQ:GRAL) in a research report issued on Tuesday. The firm set a “peer perform” rating on the stock.

Several other research firms have also weighed in on GRAL. Mizuho initiated coverage on GRAIL in a research note on Friday, April 10th. They set a “neutral” rating and a $58.00 price objective for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of GRAIL in a report on Tuesday, April 21st. Piper Sandler increased their price target on GRAIL from $54.00 to $56.00 and gave the company a “neutral” rating in a research report on Wednesday, May 6th. TD Cowen increased their price target on GRAIL from $65.00 to $69.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Finally, Morgan Stanley dropped their price target on GRAIL from $110.00 to $60.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 24th. Four analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, GRAIL presently has an average rating of “Hold” and a consensus target price of $67.88.

GRAIL Stock Down 17.3%

NASDAQ:GRAL traded down $12.37 during trading hours on Tuesday, reaching $59.32. 2,610,713 shares of the company’s stock were exchanged, compared to its average volume of 651,046. The company has a market capitalization of $2.55 billion, a P/E ratio of -6.13 and a beta of 3.15. GRAIL has a 12 month low of $29.95 and a 12 month high of $118.84. The business’s 50-day simple moving average is $56.25 and its two-hundred day simple moving average is $76.02.

GRAIL (NASDAQ:GRAL) last posted its quarterly earnings results on Tuesday, May 5th. The company reported ($2.29) earnings per share (EPS) for the quarter, beating the consensus estimate of ($2.76) by $0.47. GRAIL had a negative return on equity of 16.42% and a negative net margin of 253.22%.The company had revenue of $40.79 million for the quarter, compared to analysts’ expectations of $39.16 million. As a group, sell-side analysts anticipate that GRAIL will post -10.99 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, President Joshua J. Ofman sold 61,665 shares of the stock in a transaction on 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 sale, the president directly owned 371,216 shares in the company, valued at approximately $18,531,102.72. This trade represents a 14.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Aaron Freidin sold 45,806 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 value of $2,286,635.52. Following the sale, the chief financial officer directly owned 260,669 shares of the company’s stock, valued at approximately $13,012,596.48. The trade was a 14.95% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 246,188 shares of company stock worth $12,270,723. Corporate insiders own 1.83% of the company’s stock.

Institutional Investors Weigh In On GRAIL

Several institutional investors have recently made changes to their positions in the company. Fifth Third Bancorp grew its stake in shares of 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. N.E.W. Advisory Services LLC bought a new position in GRAIL during the fourth quarter valued at approximately $26,000. Comerica Bank lifted its stake in GRAIL by 59.2% in the third quarter. Comerica Bank now owns 465 shares of the company’s stock valued at $27,000 after acquiring an additional 173 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in GRAIL in the fourth quarter valued at approximately $28,000. Finally, Geneos Wealth Management Inc. grew its position in GRAIL by 160.0% in the first quarter. Geneos Wealth Management Inc. now owns 585 shares of the company’s stock worth $30,000 after acquiring an additional 360 shares in 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.