GRAIL (NASDAQ:GRAL - Get Free Report) issued its quarterly earnings data on Tuesday. The company reported ($3.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($3.14) by ($0.04), Zacks reports. GRAIL had a negative net margin of 329.86% and a negative return on equity of 16.64%. The business had revenue of $35.54 million during the quarter, compared to analyst estimates of $37.57 million.
GRAIL Stock Performance
Shares of NASDAQ:GRAL traded up $0.25 during midday trading on Friday, hitting $32.43. 805,479 shares of the stock were exchanged, compared to its average volume of 985,632. The business's 50-day moving average price is $40.12 and its 200 day moving average price is $36.30. The stock has a market capitalization of $1.17 billion, a price-to-earnings ratio of -2.47 and a beta of 3.26. GRAIL has a 12 month low of $12.33 and a 12 month high of $63.99.
Wall Street Analysts Forecast Growth
Separately, Canaccord Genuity Group increased their price objective on GRAIL from $32.00 to $43.00 and gave the company a "buy" rating in a report on Wednesday, May 14th.
Read Our Latest Research Report on GRAL
Insider Buying and Selling
In related news, CFO Aaron Freidin sold 8,000 shares of GRAIL 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 transaction, the chief financial officer directly owned 286,020 shares of the company's stock, valued at $11,134,758.60. The trade was a 2.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Joshua J. Ofman sold 9,692 shares of GRAIL stock in a transaction that occurred on Monday, June 30th. The stock was sold at an average price of $52.00, for a total value of $503,984.00. Following the completion of the transaction, the president directly owned 492,076 shares in the company, valued at approximately $25,587,952. This represents a 1.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 357,492 shares of company stock valued at $17,645,718 over the last ninety days. 1.85% of the stock is owned by company insiders.
Hedge Funds Weigh In On GRAIL
A number of large investors have recently modified their holdings of the company. NewEdge Advisors LLC grew its position in GRAIL by 390.3% during the 1st quarter. NewEdge Advisors LLC now owns 1,760 shares of the company's stock worth $45,000 after acquiring an additional 1,401 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of 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 last quarter. EverSource Wealth Advisors LLC grew its position in shares of GRAIL by 278.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,288 shares of the company's stock worth $118,000 after buying an additional 1,684 shares during the last quarter. Tower Research Capital LLC TRC grew its position in shares of GRAIL by 120.8% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,513 shares of the company's stock worth $129,000 after buying an additional 1,375 shares during the last quarter. Finally, HUB Investment Partners LLC bought a new stake in shares of GRAIL in the 2nd quarter worth approximately $201,000.
GRAIL Company Profile
(
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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