GRAIL (NASDAQ:GRAL) Hits New 12-Month High - Should You Buy?

Key Points

• GRAIL, Inc. (NASDAQ:GRAL) achieved a new 12-month high of $75.81, with significant trading volume of 622,874 shares, up from a previous close of $69.29.
• Analyst ratings for GRAIL show mixed sentiments, with Canaccord Genuity giving it a "buy" rating and a target price of $75, while Weiss Ratings reiterated a "sell (d-)" rating.
• Insider trading activity included President Joshua J. Ofman selling 81,385 shares at an average price of $62.50, representing a 17.02% decrease in his holdings.

GRAIL, Inc. (NASDAQ:GRAL - Get Free Report)'s stock price hit a new 52-week high on Wednesday . The company traded as high as $75.81 and last traded at $75.75, with a volume of 622874 shares traded. The stock had previously closed at $69.29.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on GRAL shares. Canaccord Genuity Group upped their target price on GRAIL from $43.00 to $75.00 and gave the stock a "buy" rating in a research report on Friday, October 3rd. Weiss Ratings reiterated a "sell (d-)" rating on shares of GRAIL in a research note on Wednesday, October 8th. Finally, UBS Group set a $75.00 target price on GRAIL in a research note on Friday, October 3rd. One research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $56.67.

GRAIL Trading Up 9.0%

The firm has a fifty day simple moving average of $43.37 and a two-hundred day simple moving average of $39.05. The stock has a market cap of $2.72 billion, a PE ratio of -5.76 and a beta of 4.11.

GRAIL (NASDAQ:GRAL - Get Free Report) last released its quarterly earnings results 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 during the quarter, compared to analysts' expectations of $37.57 million. GRAIL had a negative net margin of 329.86% and a negative return on equity of 16.64%. Equities analysts forecast that GRAIL, Inc. will post -15.15 earnings per share for the current year.

Insider Buying and Selling

In other GRAIL news, President Joshua J. Ofman sold 81,385 shares of GRAIL stock in a transaction that occurred on Monday, October 6th. The stock was sold at an average price of $62.50, for a total value of $5,086,562.50. Following the transaction, the president directly owned 396,797 shares of the company's stock, valued at $24,799,812.50. The trade was a 17.02% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Over the last 90 days, insiders sold 95,279 shares of company stock valued at $5,841,399.

Institutional Investors Weigh In On GRAIL

Several hedge funds have recently made changes to their positions in GRAL. Wealthquest Corp bought a new stake in shares of GRAIL during the first quarter valued at approximately $18,247,000. AQR Capital Management LLC raised its stake in shares of GRAIL by 61.0% in the first quarter. AQR Capital Management LLC now owns 1,337,163 shares of the company's stock worth $33,991,000 after purchasing an additional 506,440 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of GRAIL by 60.4% in the second quarter. Geode Capital Management LLC now owns 757,770 shares of the company's stock worth $38,969,000 after purchasing an additional 285,331 shares during the last quarter. Carnegie Investment Counsel purchased a new position in shares of GRAIL in the second quarter worth $8,520,000. Finally, Invesco Ltd. raised its stake in shares of GRAIL by 259.1% in the second quarter. Invesco Ltd. now owns 218,671 shares of the company's stock worth $11,244,000 after purchasing an additional 157,780 shares during 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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