GRAIL (NASDAQ:GRAL) Stock Price Up 7% – Here’s Why

GRAIL, Inc. (NASDAQ:GRAL) shares were up 7% during mid-day trading on Wednesday. The stock traded as high as $133.36 and last traded at $133.4040. Approximately 250,273 shares changed hands during trading, a decline of 74% from the average session volume of 970,710 shares. The stock had previously closed at $124.67.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Canaccord Genuity Group boosted their price target on GRAIL from $80.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, September 28th. UBS Group lifted their price objective on shares of GRAIL from $105.00 to $175.00 and gave the company a “buy” rating in a research report on Friday, October 2nd. Robert W. Baird boosted their target price on shares of GRAIL from $96.00 to $118.00 and gave the stock an “outperform” rating in a report on Tuesday, September 22nd. Mizuho upped their target price on shares of GRAIL from $65.00 to $100.00 and gave the stock a “neutral” rating in a research report on Friday, September 25th. Finally, TD Cowen raised their target price on shares of GRAIL from $88.00 to $180.00 and gave the company a “buy” rating in a research note on Tuesday, October 13th. Five research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $119.80.

GRAIL Price Performance

The business has a 50-day moving average of $103.17 and a 200 day moving average of $77.26.

GRAIL (NASDAQ:GRAL) last released 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. GRAIL had a negative return on equity of 15.88% and a negative net margin of 236.95%. The business had revenue of $44.69 million during the quarter, compared to analysts’ expectations of $42.39 million. As a group, analysts anticipate that GRAIL, Inc. will post -10.42 EPS for the current fiscal year.

Insider Transactions at GRAIL

In related news, insider Andrew Partridge sold 7,873 shares of the firm’s stock in a transaction on Monday, October 5th. The shares were sold at an average price of $146.39, for a total value of $1,152,528.47. Following the completion of the transaction, the insider directly 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Joshua J. Ofman sold 20,000 shares of the business’s stock in a transaction on Thursday, October 15th. The stock was sold at an average price of $136.85, for a total transaction of $2,737,000.00. Following the completion of the sale, the chief executive officer owned 342,271 shares in the company, valued at $46,839,786.35. This represents a 5.52% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 129,944 shares of company stock valued at $14,832,805 in the last ninety days. Corporate insiders own 1.83% of the company’s stock.

Hedge Funds Weigh In On GRAIL

Several institutional investors have recently bought and sold shares of the business. Root Financial Partners LLC purchased a new position in shares of GRAIL in the 3rd quarter worth $44,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of GRAIL in the 4th quarter worth about $28,000. SBI Securities Co. Ltd. raised its position in shares of GRAIL by 110.9% during the 3rd quarter. SBI Securities Co. Ltd. now owns 388 shares of the company’s stock valued at $54,000 after buying an additional 204 shares in the last quarter. Fifth Third Bancorp raised its position in shares of GRAIL by 15,733.3% during the 1st quarter. Fifth Third Bancorp now owns 475 shares of the company’s stock valued at $25,000 after buying an additional 472 shares in the last quarter. Finally, Allworth Financial LP purchased a new stake in shares of GRAIL during the 2nd quarter valued at about $35,000.

About GRAIL

GRAIL, Inc (NASDAQ: GRAL) is a healthcare company focused on developing blood-based screening technologies for the early detection of cancer. Its principal product is Galleri, a multi-cancer early detection test designed to identify DNA patterns associated with multiple types of cancer from a single blood sample.

Galleri is intended for use alongside recommended cancer screenings and is available by prescription through qualified healthcare providers in the United States. The test is offered as a laboratory-developed test and has not been approved or cleared by the U.S.