GRAIL (NASDAQ:GRAL) Stock Price Down 7.5% – Time to Sell?

GRAIL, Inc. (NASDAQ:GRAL)’s stock price traded down 7.5% on Friday . The company traded as low as $48.72 and last traded at $48.2460. 157,843 shares changed hands during trading, a decline of 88% from the average session volume of 1,288,496 shares. The stock had previously closed at $52.16.

Wall Street Analysts Forecast Growth

GRAL has been the subject of several recent analyst reports. Guggenheim raised their price objective on shares of GRAIL from $100.00 to $130.00 and gave the company a “buy” rating in a research note on Monday, January 26th. 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 research report on Tuesday, February 24th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of GRAIL in a report on Thursday, January 22nd. TD Cowen upgraded shares of GRAIL from a “hold” rating to a “buy” rating and set a $65.00 price target for the company in a research report on Wednesday, March 18th. Finally, Robert W. Baird set a $82.00 price target on GRAIL in a research note on Friday, February 20th. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $82.00.

GRAIL Stock Performance

The company’s fifty day simple moving average is $75.43 and its two-hundred day simple moving average is $78.66. The stock has a market capitalization of $1.96 billion, a PE ratio of -4.27 and a beta of 5.18.

GRAIL (NASDAQ:GRAL) last announced its quarterly earnings results on Thursday, February 19th. The company reported ($2.44) earnings per share (EPS) for the quarter, beating the consensus estimate of ($3.33) by $0.89. GRAIL had a negative net margin of 277.46% and a negative return on equity of 17.11%. The company had revenue of $43.60 million for the quarter, compared to the consensus estimate of $43.33 million. Sell-side analysts forecast that GRAIL, Inc. will post -15.15 EPS for the current fiscal year.

Insider Buying and Selling at GRAIL

In other news, President Joshua J. Ofman sold 2,937 shares of the company’s stock in a transaction on Monday, March 9th. The stock was sold at an average price of $47.89, for a total value of $140,652.93. Following the sale, the president directly owned 432,881 shares in the company, valued at $20,730,671.09. This represents a 0.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Robert P. Ragusa sold 7,461 shares of the stock in a transaction on Monday, March 9th. The shares were sold at an average price of $47.89, for a total value of $357,307.29. Following the sale, the chief executive officer directly owned 642,084 shares in the company, valued at approximately $30,749,402.76. The trade was a 1.15% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 79,294 shares of company stock worth $3,955,224. 1.85% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. N.E.W. Advisory Services LLC purchased a new stake in shares of GRAIL during the fourth quarter worth about $26,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of GRAIL during the fourth quarter valued at approximately $28,000. Elyxium Wealth LLC acquired a new stake in GRAIL during the fourth quarter worth approximately $31,000. Comerica Bank grew its stake in GRAIL by 59.2% in the 3rd quarter. Comerica Bank now owns 465 shares of the company’s stock worth $27,000 after acquiring an additional 173 shares during the period. Finally, Intesa Sanpaolo S.p.A. purchased a new stake in GRAIL in the 4th quarter worth approximately $44,000.

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.