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GRAIL (NASDAQ:GRAL) Releases Earnings Results, Misses Estimates By $0.04 EPS

GRAIL logo with Medical background

Key Points

  • GRAIL reported an earnings per share (EPS) of ($3.18), missing analyst estimates by ($0.04).
  • The company's negative net margin stood at 1,464.53% and it had a negative return on equity of 17.99%.
  • Analysts from Canaccord Genuity raised their target price for GRAIL from $32.00 to $43.00, maintaining a "buy" rating on the stock.
  • Need better tools to track GRAIL? Try 5 Weeks of MarketBeat All Access for $5. Start Portfolio Tracking Now.

GRAIL (NASDAQ:GRAL - Get Free Report) announced its quarterly earnings data on Tuesday. The company reported ($3.18) EPS for the quarter, missing the consensus estimate of ($3.14) by ($0.04), Zacks reports. GRAIL had a negative net margin of 1,464.53% and a negative return on equity of 17.99%.

GRAIL Stock Performance

GRAL traded up $0.91 during midday trading on Tuesday, hitting $33.60. The stock had a trading volume of 1,433,921 shares, compared to its average volume of 1,379,797. The company has a market cap of $1.21 billion, a P/E ratio of -0.55 and a beta of 3.26. The business has a fifty day moving average of $40.60 and a 200 day moving average of $36.19. GRAIL has a 1 year low of $12.33 and a 1 year high of $63.99.

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group upped their target price on GRAIL from $32.00 to $43.00 and gave the stock a "buy" rating in a research note on Wednesday, May 14th.

Read Our Latest Research Report on GRAIL

Insider Activity at GRAIL

In related news, President Joshua J. Ofman sold 9,692 shares of the stock in a transaction dated Monday, June 30th. The stock was sold at an average price of $52.00, for a total transaction of $503,984.00. Following the completion of the sale, the president directly owned 492,076 shares in the company, valued at $25,587,952. This represents a 1.93% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Aaron Freidin sold 8,000 shares of the stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $38.93, for a total value of $311,440.00. Following the sale, the chief financial officer owned 286,020 shares of the company's stock, valued at $11,134,758.60. This represents a 2.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 357,492 shares of company stock worth $17,645,718 in the last ninety days.

Institutional Investors Weigh In On GRAIL

Several institutional investors have recently bought and sold shares of the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in GRAIL by 37.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 92,465 shares of the company's stock valued at $2,362,000 after acquiring an additional 25,177 shares during the period. Royal Bank of Canada boosted its holdings in GRAIL by 17.7% during the 1st quarter. Royal Bank of Canada now owns 88,082 shares of the company's stock valued at $2,250,000 after acquiring an additional 13,264 shares during the period. JPMorgan Chase & Co. boosted its holdings in GRAIL by 115.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 79,544 shares of the company's stock valued at $4,090,000 after acquiring an additional 42,675 shares during the period. American Century Companies Inc. boosted its holdings in GRAIL by 104.7% during the 2nd quarter. American Century Companies Inc. now owns 36,237 shares of the company's stock valued at $1,863,000 after acquiring an additional 18,535 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in GRAIL by 28.2% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,835 shares of the company's stock worth $76,000 after buying an additional 623 shares during the period.

About GRAIL

(Get Free Report)

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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Earnings History for GRAIL (NASDAQ:GRAL)

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