GRAIL (NASDAQ:GRAL) Releases Quarterly Earnings Results, Beats Expectations By $0.47 EPS

Key Points

• GRAIL reported Q1 EPS of ($2.29), beating consensus by $0.47, sold over 56,000 Galleri tests with screening revenue of $39.8M, improved adjusted gross profit to $19.7M, narrowed adjusted EBITDA loss to -$79.9M, and finished the quarter with $823.1M in cash.
• The FDA has accepted GRAIL's PMA submission for review, but the NHS‑Galleri trial failed its combined primary endpoint, creating significant regulatory and commercial uncertainty despite secondary benefits.
• Shares traded down about 2.3% intraday, analysts have trimmed price targets (consensus rating: Hold, avg PT $68.63), and insiders sold roughly 310,267 shares (~$15.5M) over the quarter.

GRAIL (NASDAQ:GRAL - Get Free Report) announced its quarterly earnings results on Tuesday. The company reported ($2.29) earnings per share for the quarter, topping the consensus estimate of ($2.76) by $0.47, Zacks reports. GRAIL had a negative net margin of 277.46% and a negative return on equity of 17.11%.

Here are the key takeaways from GRAIL's conference call:

• GRAIL sold over 56,000 Galleri tests in Q1 (a 50% YoY increase) and reported screening revenue of $39.8M, citing expanding physician adoption and new health-system and employer partnerships.
• The FDA has accepted GRAIL's PMA submission for review (PATHFINDER 2 and NHS-Galleri data plus a bridging analysis), but timing, the possibility of an advisory committee, and the ultimate outcome remain uncertain.
• The NHS-Galleri trial did not meet its combined primary endpoint (no significant reduction in combined stage 3+4), which could be viewed unfavorably by some stakeholders despite accompanying secondary benefits.
• Q1 non-GAAP results improved with adjusted gross profit of $19.7M, a narrower adjusted EBITDA loss (-$79.9M), a 12% smaller net loss, and cash of $823.1M to fund growth and milestones.
• Management reiterated 2026 revenue guidance (22–32%), plans a mid-year salesforce ramp and Epic/Quest/Athena integrations to ease provider ordering, but the pace of uptake from new digital and employer partners and ASP/mix effects are uncertain.

GRAIL Trading Down 2.3%

GRAL stock traded down $1.26 during mid-day trading on Tuesday, reaching $54.40. 720,165 shares of the stock traded hands, compared to its average volume of 699,775. GRAIL has a one year low of $29.95 and a one year high of $118.84. The business has a 50-day moving average price of $50.40 and a two-hundred day moving average price of $78.71.

Analysts Set New Price Targets

Several brokerages recently weighed in on GRAL. Weiss Ratings restated a "sell (d-)" rating on shares of GRAIL in a research report on Tuesday, April 21st. Morgan Stanley reduced their price target on shares of GRAIL from $110.00 to $60.00 and set an "equal weight" rating on the stock in a research report on Tuesday, February 24th. Mizuho began coverage on shares of GRAIL in a research report on Friday, April 10th. They issued a "neutral" rating and a $58.00 price target on the stock. Piper Sandler began coverage on shares of GRAIL in a research report on Friday, April 10th. They issued a "neutral" rating and a $54.00 price target on the stock. Finally, Guggenheim reduced their price target on shares of GRAIL from $130.00 to $75.00 and set a "buy" rating on the stock in a research report on Monday, March 30th. Four equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $68.63.

Insider Buying and Selling at GRAIL

In other GRAIL news, CEO Robert P. Ragusa sold 123,502 shares of the business's stock in a transaction on Wednesday, April 8th. The shares were sold at an average price of $49.92, for a total transaction of $6,165,219.84. Following the transaction, the chief executive officer owned 518,582 shares in the company, valued at $25,887,613.44. The trade was a 19.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, President Joshua J. Ofman sold 61,665 shares of the business's stock in a transaction on Wednesday, April 8th. The shares were sold at an average price of $49.92, for a total transaction of $3,078,316.80. Following the transaction, the president owned 371,216 shares in the company, valued at $18,531,102.72. This trade represents a 14.25% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 310,267 shares of company stock worth $15,485,396 over the last quarter.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Comerica Bank increased its position in GRAIL by 59.2% during the third quarter. Comerica Bank now owns 465 shares of the company's stock valued at $27,000 after acquiring an additional 173 shares during the last quarter. Intesa Sanpaolo S.p.A. bought a new position in GRAIL during the fourth quarter valued at $44,000. Ankerstar Wealth LLC bought a new position in GRAIL during the fourth quarter valued at $45,000. Rossby Financial LCC increased its position in GRAIL by 25.0% during the fourth quarter. Rossby Financial LCC now owns 1,250 shares of the company's stock valued at $107,000 after acquiring an additional 250 shares during the last quarter. Finally, CIBC Private Wealth Group LLC increased its position in GRAIL by 244.0% during the third quarter. CIBC Private Wealth Group LLC now owns 1,610 shares of the company's stock valued at $95,000 after acquiring an additional 1,142 shares during 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.

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