Brokerages Set GRAIL, Inc. (NASDAQ:GRAL) Price Target at $68.63

Shares of GRAIL, Inc. (NASDAQ:GRAL) have been assigned a consensus recommendation of “Hold” from the eight research firms that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $67.8750.

GRAL has been the topic of several research reports. Wall Street Zen raised GRAIL from a “sell” rating to a “hold” rating in a research report on Saturday. Guggenheim cut their target price on GRAIL from $130.00 to $75.00 and set a “buy” rating on the stock in a research report on Monday, March 30th. Robert W. Baird set a $70.00 target price on GRAIL in a research report on Wednesday, May 6th. Canaccord Genuity Group cut their target price on GRAIL from $105.00 to $80.00 and set a “buy” rating on the stock in a research report on Friday, February 20th. Finally, Mizuho assumed coverage on GRAIL in a research report on Friday, April 10th. They issued a “neutral” rating and a $58.00 target price on the stock.

GRAIL Trading Down 0.6%

Shares of GRAL opened at $61.26 on Tuesday. GRAIL has a 12 month low of $29.95 and a 12 month high of $118.84. The stock has a fifty day moving average price of $51.31 and a 200-day moving average price of $78.06. The firm has a market cap of $2.63 billion, a PE ratio of -5.91 and a beta of 3.03.

GRAIL (NASDAQ:GRAL) last issued its quarterly earnings data on Tuesday, May 5th. The company reported ($2.29) 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 firm had revenue of $40.79 million during the quarter, compared to analyst estimates of $39.16 million. As a group, research analysts forecast that GRAIL will post -11.09 EPS for the current year.

Insider Activity at GRAIL

In related news, CFO Aaron Freidin sold 45,806 shares of the company’s stock in a transaction on Wednesday, April 8th. The stock was sold at an average price of $49.92, for a total value of $2,286,635.52. Following the transaction, the chief financial officer directly owned 260,669 shares of the company’s stock, valued at $13,012,596.48. This represents a 14.95% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Joshua J. Ofman sold 61,665 shares of the company’s stock in a transaction on Wednesday, April 8th. The shares were sold at an average price of $49.92, for a total value of $3,078,316.80. Following the completion of the transaction, the president directly owned 371,216 shares in the company, valued at approximately $18,531,102.72. The trade was a 14.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 310,267 shares of company stock valued at $15,485,396 in the last ninety days. Company insiders own 1.83% of the company’s stock.

Hedge Funds Weigh In On GRAIL

Several hedge funds have recently made changes to their positions in the company. WIM INVESTMENT MANAGEMENT Ltd grew its position in GRAIL by 200.0% during the 3rd quarter. WIM INVESTMENT MANAGEMENT Ltd now owns 63,000 shares of the company’s stock worth $3,725,000 after purchasing an additional 42,000 shares during the period. JPMorgan Chase & Co. grew its position in GRAIL by 159.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 206,120 shares of the company’s stock worth $12,188,000 after purchasing an additional 126,576 shares during the period. Farallon Capital Management LLC grew its position in GRAIL by 168.7% during the 3rd quarter. Farallon Capital Management LLC now owns 1,349,000 shares of the company’s stock worth $79,766,000 after purchasing an additional 847,000 shares during the period. Y Intercept Hong Kong Ltd acquired a new stake in GRAIL during the 3rd quarter worth about $885,000. Finally, Trifecta Capital Advisors LLC grew its position in GRAIL by 89.9% during the 3rd quarter. Trifecta Capital Advisors LLC now owns 21,650 shares of the company’s stock worth $1,280,000 after purchasing an additional 10,250 shares during the period.

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.