GRAIL (NASDAQ:GRAL) Issues Quarterly Earnings Results

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

GRAIL Stock Performance

GRAIL stock traded down $0.75 during midday trading on Thursday, hitting $101.53. 1,219,286 shares of the company’s stock were exchanged, compared to its average volume of 758,683. The stock has a market cap of $3.96 billion, a price-to-earnings ratio of -8.73 and a beta of 4.52. GRAIL has a 12-month low of $20.44 and a 12-month high of $118.84. The firm’s 50 day simple moving average is $97.29 and its 200 day simple moving average is $75.64.

Hedge Funds Weigh In On GRAIL

Institutional investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada lifted its position in GRAIL by 17.7% during the 1st quarter. Royal Bank of Canada now owns 88,082 shares of the company’s stock worth $2,250,000 after acquiring an additional 13,264 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew 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 raised 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 buying an additional 1,401 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of GRAIL by 37.4% in 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 during the period. Finally, JPMorgan Chase & Co. boosted 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 acquiring an additional 42,675 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on GRAL shares. TD Cowen began coverage on GRAIL in a report on Thursday. They issued a “hold” rating and a $114.00 target price on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of GRAIL in a report on Thursday, January 22nd. Robert W. Baird began coverage on GRAIL in a research note on Tuesday. They set an “outperform” rating and a $113.00 target price for the company. Guggenheim upped their price target on GRAIL from $100.00 to $130.00 and gave the company a “buy” rating in a report on Monday, January 26th. Finally, Morgan Stanley raised their price objective on shares of GRAIL from $85.00 to $110.00 and gave the stock an “equal weight” rating in a report on Monday, December 1st. Three analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, GRAIL presently has an average rating of “Hold” and a consensus price target of $107.83.

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.