GRAIL (NASDAQ:GRAL) Stock Price Down 6.3% – What’s Next?

GRAIL, Inc. (NASDAQ:GRAL) dropped 6.3% on Wednesday . The stock traded as low as $70.68 and last traded at $70.76. 238,295 shares traded hands during trading, a decline of 75% from the average session volume of 936,345 shares. The stock had previously closed at $75.48.

Analysts Set New Price Targets

GRAL has been the subject of a number of analyst reports. Mizuho raised their price target on GRAIL from $58.00 to $65.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 15th. Wolfe Research began coverage on shares of GRAIL in a research report on Tuesday, June 2nd. They set a “peer perform” rating on the stock. The Goldman Sachs Group assumed coverage on shares of GRAIL in a research note on Friday, June 5th. They issued a “neutral” rating and a $60.00 target price on the stock. Wall Street Zen upgraded shares of GRAIL from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Finally, Piper Sandler lifted their price target on shares of GRAIL from $54.00 to $56.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 6th. Four equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued 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 $67.78.

GRAIL Stock Performance

The company has a 50 day moving average of $67.23 and a two-hundred day moving average of $65.92. The stock has a market capitalization of $3.17 billion, a PE ratio of -7.27 and a beta of 3.24.

GRAIL (NASDAQ:GRAL) last posted its quarterly earnings results on Wednesday, August 5th. The company reported ($2.56) earnings per share for the quarter, beating the consensus estimate of ($2.66) by $0.10. The business had revenue of $44.69 million for the quarter, compared to the consensus estimate of $42.39 million. GRAIL had a negative return on equity of 15.88% and a negative net margin of 236.95%. As a group, research analysts predict that GRAIL, Inc. will post -10.93 EPS for the current fiscal year.

Insider Transactions at GRAIL

In other GRAIL news, insider Andrew John Partridge sold 1,491 shares of the firm’s stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $61.08, for a total transaction of $91,070.28. Following the completion of the transaction, the insider directly owned 163,738 shares of the company’s stock, valued at approximately $10,001,117.04. This trade represents a 0.90% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 1.83% of the company’s stock.

Institutional Trading of GRAIL

A number of hedge funds and other institutional investors have recently made changes to their positions in GRAL. Ieq Capital LLC purchased a new position in shares of GRAIL during the second quarter worth $886,000. Green Alpha Advisors LLC acquired a new stake in GRAIL during the 2nd quarter worth about $355,000. Allworth Financial LP acquired a new stake in GRAIL during the 2nd quarter worth about $35,000. E Fund Management Co. Ltd. acquired a new stake in GRAIL during the 2nd quarter worth about $380,000. Finally, BlackRock Inc. raised its stake in shares of GRAIL by 20.5% during the 2nd quarter. BlackRock Inc. now owns 3,577,075 shares of the company’s stock valued at $244,207,000 after buying an additional 608,539 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.