GRAIL (NASDAQ:GRAL) Given New $75.00 Price Target at Canaccord Genuity Group

Key Points

• Canaccord Genuity Group has raised its price target for GRAIL (NASDAQ:GRAL) from $43.00 to $75.00, reflecting a potential upside of 3.56% from the current share price and maintaining a "buy" rating.
• UBS Group also set a price objective of $75.00 for GRAIL, while the consensus rating remains at "Hold" with a target price of $56.67.
• GRAIL reported a quarterly loss of ($3.18) earnings per share, which missed the consensus estimate, and had a revenue of $35.54 million for the quarter.

GRAIL (NASDAQ:GRAL - Get Free Report) had its price target increased by investment analysts at Canaccord Genuity Group from $43.00 to $75.00 in a research report issued on Friday,Benzinga reports. The firm presently has a "buy" rating on the stock. Canaccord Genuity Group's target price suggests a potential upside of 3.56% from the company's current price.

Separately, UBS Group set a $75.00 price objective on GRAIL in a report on Friday. One research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $56.67.

GRAIL Price Performance

Shares of GRAIL stock traded up $7.70 during trading on Friday, hitting $72.43. 490,668 shares of the company were exchanged, compared to its average volume of 1,271,459. The firm has a market capitalization of $2.61 billion, a P/E ratio of -5.60 and a beta of 4.11. GRAIL has a 1-year low of $12.33 and a 1-year high of $71.80. The firm's fifty day moving average price is $38.18 and its 200 day moving average price is $36.86.

GRAIL (NASDAQ:GRAL - Get Free Report) last released its quarterly earnings data on Tuesday, August 12th. The company reported ($3.18) earnings per share for the quarter, missing the consensus estimate of ($3.14) by ($0.04). The business had revenue of $35.54 million for the quarter, compared to the consensus estimate of $37.57 million. GRAIL had a negative net margin of 329.86% and a negative return on equity of 16.64%. As a group, equities research analysts anticipate that GRAIL will post -15.15 earnings per share for the current year.

Insider Activity at GRAIL

In related news, President Joshua J. Ofman sold 4,202 shares of the firm's stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $32.02, for a total transaction of $134,548.04. Following the completion of the sale, the president owned 487,874 shares of the company's stock, valued at $15,621,725.48. This trade represents a 0.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Aaron Freidin sold 8,000 shares of the firm's stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $38.93, for a total value of $311,440.00. Following the sale, the chief financial officer directly owned 286,020 shares of the company's stock, valued at $11,134,758.60. This represents a 2.72% decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.85% of the company's stock.

Institutional Investors Weigh In On GRAIL

A number of hedge funds have recently added to or reduced their stakes in GRAL. Caldwell Sutter Capital Inc. acquired a new stake in GRAIL in the first quarter valued at approximately $28,000. KBC Group NV lifted its holdings in shares of GRAIL by 187.7% in the first quarter. KBC Group NV now owns 1,430 shares of the company's stock valued at $37,000 after purchasing an additional 933 shares in the last quarter. S.A. Mason LLC lifted its holdings in shares of GRAIL by 50.1% in the first quarter. S.A. Mason LLC now owns 1,499 shares of the company's stock valued at $38,000 after purchasing an additional 500 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of GRAIL by 768.1% in the second quarter. Farther Finance Advisors LLC now owns 816 shares of the company's stock valued at $42,000 after purchasing an additional 722 shares in the last quarter. Finally, NewEdge Advisors LLC lifted its holdings in shares of GRAIL by 390.3% in the first quarter. NewEdge Advisors LLC now owns 1,760 shares of the company's stock valued at $45,000 after purchasing an additional 1,401 shares in the last quarter.

GRAIL Company Profile

GRAIL, Inc operates as a commercial-stage healthcare company, which engages in the development of a technology for early detection of cancer. It utilizes machine learning, software, and automation to detect and identify multiple deadly cancer types in earlier stages. The company was founded by Jeffrey T.

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