GRAIL (NASDAQ:GRAL) Shares Gap Down – What’s Next?

Shares of GRAIL, Inc. (NASDAQ:GRAL) gapped down prior to trading on Monday . The stock had previously closed at $71.68, but opened at $58.83. GRAIL shares last traded at $58.5440, with a volume of 510,642 shares changing hands.

Analyst Ratings Changes

A number of equities research analysts have weighed in on GRAL shares. Guggenheim decreased their price objective on GRAIL from $130.00 to $75.00 and set a “buy” rating on the stock in a report on Monday, March 30th. Morgan Stanley lowered their target price on shares of GRAIL from $110.00 to $60.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 24th. Wall Street Zen raised shares of GRAIL from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Mizuho began coverage on GRAIL in a report on Friday, April 10th. They issued a “neutral” rating and a $58.00 target price on the stock. Finally, Robert W. Baird set a $70.00 price objective on GRAIL in a research note on Wednesday, May 6th. Four 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’s stock. According to MarketBeat.com, GRAIL has a consensus rating of “Hold” and a consensus price target of $67.88.

GRAIL Trading Down 19.2%

The stock has a market capitalization of $2.48 billion, a P/E ratio of -5.58 and a beta of 3.15. The company has a fifty day simple moving average of $55.93 and a two-hundred day simple moving average of $76.15.

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

Insider Activity at GRAIL

In other news, CFO Aaron Freidin sold 45,806 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 $2,286,635.52. Following the sale, the chief financial officer owned 260,669 shares of the company’s stock, valued at $13,012,596.48. This trade represents a 14.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, President Joshua J. Ofman sold 61,665 shares of the business’s stock in a transaction that occurred 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 owned 371,216 shares of the company’s stock, valued at $18,531,102.72. This represents a 14.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 246,188 shares of company stock worth $12,270,723 in the last quarter. Corporate insiders own 1.83% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of GRAL. Royal Bank of Canada boosted its stake in GRAIL by 17.7% in the 1st quarter. Royal Bank of Canada now owns 88,082 shares of the company’s stock worth $2,250,000 after purchasing an additional 13,264 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in GRAIL by 28.2% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,835 shares of the company’s stock valued at $76,000 after buying an additional 623 shares during the last quarter. NewEdge Advisors LLC boosted its position in GRAIL by 390.3% during the 1st quarter. NewEdge Advisors LLC now owns 1,760 shares of the company’s stock worth $45,000 after acquiring an additional 1,401 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of GRAIL by 37.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 92,465 shares of the company’s stock worth $2,362,000 after acquiring an additional 25,177 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of GRAIL by 115.7% in the second quarter. JPMorgan Chase & Co. now owns 79,544 shares of the company’s stock valued at $4,090,000 after purchasing an additional 42,675 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.