GRAIL (NASDAQ:GRAL) Releases Earnings Results, Beats Estimates By $0.89 EPS

GRAIL (NASDAQ:GRAL) issued its earnings results on Thursday. The company reported ($2.44) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($3.33) by $0.89, Zacks reports. The business had revenue of $43.60 million during the quarter, compared to the consensus estimate of $43.33 million. GRAIL had a negative return on equity of 15.69% and a negative net margin of 286.43%.

GRAIL Trading Down 0.7%

Shares of NASDAQ:GRAL traded down $0.75 during midday trading on Thursday, hitting $101.53. 1,219,286 shares of the stock were exchanged, compared to its average volume of 758,683. GRAIL has a twelve month low of $20.44 and a twelve month high of $118.84. The company has a 50 day moving average price of $97.29 and a 200-day moving average price of $75.64. The stock has a market cap of $3.96 billion, a P/E ratio of -8.73 and a beta of 4.52.

Analysts Set New Price Targets

Several research firms have issued reports on GRAL. Weiss Ratings reiterated a “sell (d-)” rating on shares of GRAIL in a research report on Thursday, January 22nd. Robert W. Baird started coverage on shares of GRAIL in a research note on Tuesday. They set an “outperform” rating and a $113.00 price target on the stock. 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 report on Monday, December 1st. Canaccord Genuity Group boosted their price objective on shares of GRAIL from $85.00 to $105.00 and gave the stock a “buy” rating in a report on Monday, November 17th. Finally, TD Cowen began coverage on shares of GRAIL in a research report on Thursday. They set a “hold” rating and a $114.00 target price on the stock. Three investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, GRAIL currently has a consensus rating of “Hold” and a consensus target price of $107.83.

Hedge Funds Weigh In On GRAIL

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GRAL. Invesco Ltd. grew its position in shares of GRAIL by 1.0% in the fourth quarter. Invesco Ltd. now owns 137,967 shares of the company’s stock valued at $11,809,000 after purchasing an additional 1,422 shares during the last quarter. Corient Private Wealth LLC raised its position in shares of GRAIL by 59.7% during the 4th quarter. Corient Private Wealth LLC now owns 9,233 shares of the company’s stock worth $790,000 after purchasing an additional 3,450 shares during the last quarter. Mercer Global Advisors Inc. ADV purchased a new stake in GRAIL in the 4th quarter valued at approximately $303,000. Regal Partners Ltd acquired a new stake in GRAIL during the 4th quarter valued at $342,000. Finally, NewEdge Advisors LLC grew its holdings in GRAIL by 15.5% during the 4th quarter. NewEdge Advisors LLC now owns 5,286 shares of the company’s stock valued at $452,000 after buying an additional 710 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.