GRAIL (NASDAQ:GRAL) Reaches New 52-Week High – Here’s What Happened

GRAIL, Inc. (NASDAQ:GRAL) hit a new 52-week high during mid-day trading on Wednesday. The company traded as high as $166.48 and last traded at $137.28, with a volume of 2028680 shares trading hands. The stock had previously closed at $154.08.

Analyst Ratings Changes

Several research firms have commented on GRAL. Royal Bank Of Canada started coverage on GRAIL in a report on Thursday, September 17th. They set a “sector perform” rating and a $84.00 price objective on the stock. Guggenheim upped their target price on GRAIL from $75.00 to $155.00 and gave the stock a “buy” rating in a report on Thursday, October 1st. Robert W. Baird increased their price target on GRAIL from $96.00 to $118.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 22nd. Canaccord Genuity Group raised their price target on GRAIL from $80.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, September 28th. Finally, Wall Street Zen upgraded GRAIL from a “sell” rating to a “hold” rating in a report on Sunday, September 13th. Five equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $102.70.

GRAIL Trading Down 0.2%

The stock has a market capitalization of $5.92 billion, a P/E ratio of -13.60 and a beta of 2.83. The company has a 50-day moving average price of $90.93 and a 200 day moving average price of $71.59.

GRAIL (NASDAQ:GRAL) last issued its quarterly earnings data on Wednesday, August 5th. The company reported ($2.56) earnings per share for the quarter, beating analysts’ consensus estimates of ($2.66) by $0.10. GRAIL had a negative return on equity of 15.88% and a negative net margin of 236.95%.The company had revenue of $44.69 million for the quarter, compared to the consensus estimate of $42.39 million. As a group, research analysts expect that GRAIL, Inc. will post -10.41 earnings per share for the current year.

Insider Activity

In other news, CFO Aaron Freidin sold 23,619 shares of GRAIL stock in a transaction that occurred on Monday, October 5th. The shares were sold at an average price of $146.39, for a total value of $3,457,585.41. Following the transaction, the chief financial officer owned 225,364 shares of the company’s stock, valued at $32,991,035.96. The trade was a 9.49% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Andrew Partridge sold 7,873 shares of the business’s stock in a transaction that occurred on Monday, October 5th. The stock was sold at an average price of $146.39, for a total transaction of $1,152,528.47. Following the transaction, the insider owned 155,865 shares of the company’s stock, valued at approximately $22,817,077.35. This trade represents a 4.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 109,944 shares of company stock worth $12,095,805. Corporate insiders own 1.83% of the company’s stock.

Hedge Funds Weigh In On GRAIL

A number of large investors have recently made changes to their positions in GRAL. GAMMA Investing LLC lifted its holdings in shares of GRAIL by 30.3% during the 3rd quarter. GAMMA Investing LLC now owns 1,273 shares of the company’s stock valued at $178,000 after purchasing an additional 296 shares during the last quarter. CoreCap Advisors LLC grew its stake in GRAIL by 107,400.0% during the 3rd quarter. CoreCap Advisors LLC now owns 1,075 shares of the company’s stock worth $151,000 after buying an additional 1,074 shares during the last quarter. Moody National Bank Trust Division increased its position in GRAIL by 1.3% during the 3rd quarter. Moody National Bank Trust Division now owns 13,478 shares of the company’s stock valued at $1,889,000 after buying an additional 178 shares in the last quarter. State Street Corp increased its position in GRAIL by 26.1% during the 2nd quarter. State Street Corp now owns 2,385,514 shares of the company’s stock valued at $162,859,000 after buying an additional 493,621 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in GRAIL by 26.3% in the second quarter. The Manufacturers Life Insurance Company now owns 21,597 shares of the company’s stock valued at $1,474,000 after buying an additional 4,498 shares during the last quarter.

GRAIL Company Profile

GRAIL, Inc is a healthcare company focused on developing blood-based technologies for the early detection of cancer. Its goal is to identify cancer signals before symptoms appear, when treatment may be more effective, by applying genomics, machine learning and other analytical methods to blood samples.

The company’s primary product is the Galleri multi-cancer early detection test, a prescription laboratory-developed test designed to screen for signals associated with multiple types of cancer from a single blood draw.