GRAIL (NASDAQ:GRAL) Shares Down 12.2% – What’s Next?

Shares of GRAIL, Inc. (NASDAQ:GRAL) traded down 12.2% during trading on Thursday . The stock traded as low as $65.10 and last traded at $65.1210. 494,903 shares were traded during mid-day trading, a decline of 47% from the average daily volume of 925,546 shares. The stock had previously closed at $74.18.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Robert W. Baird set a $70.00 price objective on GRAIL in a research report on Wednesday, May 6th. TD Cowen restated a “buy” rating on shares of GRAIL in a research report on Wednesday, July 15th. Mizuho increased their price objective on shares of GRAIL from $58.00 to $65.00 and gave the company a “neutral” rating in a research report on Wednesday, July 15th. Wall Street Zen upgraded shares of GRAIL from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, Piper Sandler lifted their price objective 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 investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, GRAIL has a consensus rating of “Hold” and a consensus price target of $67.78.

GRAIL Trading Down 13.0%

The firm has a market capitalization of $2.77 billion, a P/E ratio of -6.20 and a beta of 3.24. The firm has a 50 day moving average price of $66.97 and a 200-day moving average price of $66.72.

GRAIL (NASDAQ:GRAL) last released its 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 firm 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 16.42% and a negative net margin of 253.22%. Research analysts anticipate that GRAIL, Inc. will post -10.91 earnings per share for the current year.

Insider Activity

In related news, insider Andrew John Partridge sold 1,491 shares of the business’s stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $61.08, for a total transaction of $91,070.28. Following the completion of the transaction, the insider owned 163,738 shares in the company, valued at $10,001,117.04. The trade was a 0.90% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.83% of the stock is owned by company insiders.

Institutional Investors Weigh In On GRAIL

Large investors have recently added to or reduced their stakes in the stock. Fifth Third Bancorp raised its stake in shares of GRAIL by 15,733.3% during the first quarter. Fifth Third Bancorp now owns 475 shares of the company’s stock valued at $25,000 after acquiring an additional 472 shares in the last quarter. N.E.W. Advisory Services LLC purchased a new position in GRAIL during the 4th quarter worth $26,000. Comerica Bank raised its position in GRAIL by 59.2% during the 3rd quarter. Comerica Bank now owns 465 shares of the company’s stock valued at $27,000 after purchasing an additional 173 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in shares of GRAIL in the 4th quarter worth $28,000. Finally, Geneos Wealth Management Inc. grew its position in shares of GRAIL by 160.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 585 shares of the company’s stock worth $30,000 after buying an additional 360 shares in 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.