GRAIL (NASDAQ:GRAL) Shares Up 10.3% - Still a Buy?

Key Points

• GRAIL shares jumped 10.3% to $81.59 in Thursday trading, significantly above the analyst consensus price target of $67.78.
• Analyst sentiment remains mixed: four analysts rate the stock Buy, five Hold, and one Sell, resulting in an overall Hold rating. Recent targets include Goldman Sachs at $60 and Piper Sandler at $56.
• GRAIL exceeded quarterly expectations, reporting a narrower-than-expected loss of $2.56 per share and revenue of $44.69 million versus the $42.39 million estimate, but it remains deeply unprofitable with a negative net margin of 236.95%.

GRAIL, Inc. (NASDAQ:GRAL - Get Free Report)'s stock price was up 10.3% on Thursday . The stock traded as high as $79.76 and last traded at $81.59. Approximately 431,117 shares changed hands during mid-day trading, a decline of 53% from the average session volume of 926,598 shares. The stock had previously closed at $73.96.

Analysts Set New Price Targets

A number of research firms have issued reports on GRAL. TD Cowen reiterated a "buy" rating on shares of GRAIL in a research note on Wednesday, July 15th. Wolfe Research started coverage on shares of GRAIL in a report on Tuesday, June 2nd. They issued a "peer perform" rating on the stock. The Goldman Sachs Group initiated coverage on shares of GRAIL in a research report on Friday, June 5th. They issued a "neutral" rating and a $60.00 price target on the stock. Piper Sandler lifted their target price on GRAIL from $54.00 to $56.00 and gave the company a "neutral" rating in a report on Wednesday, May 6th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of GRAIL in a research report on Friday, July 17th. Four analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $67.78.

GRAIL Trading Up 7.6%

The stock has a 50 day simple moving average of $68.26 and a 200 day simple moving average of $64.38. The firm has a market capitalization of $3.56 billion, a PE ratio of -8.17 and a beta of 3.24.

GRAIL (NASDAQ:GRAL - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The company reported ($2.56) earnings per share for the quarter, beating analysts' consensus estimates of ($2.66) by $0.10. GRAIL had a negative return on equity of 15.88% and a negative net margin of 236.95%.The firm had revenue of $44.69 million during the quarter, compared to analyst estimates of $42.39 million. As a group, equities analysts anticipate that GRAIL, Inc. will post -10.41 earnings per share for the current year.

Insiders Place Their Bets

In other GRAIL news, insider Andrew John Partridge sold 1,491 shares of the firm's stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $61.08, for a total value of $91,070.28. Following the sale, the insider owned 163,738 shares of the company's stock, valued at $10,001,117.04. This trade represents a 0.90% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.83% of the stock is owned by insiders.

Institutional Investors Weigh In On GRAIL

Several institutional investors and hedge funds have recently bought and sold shares of the business. Royal Bank of Canada grew its position in shares of GRAIL by 17.7% in the 1st quarter. Royal Bank of Canada now owns 88,082 shares of the company's stock worth $2,250,000 after buying an additional 13,264 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in GRAIL by 28.2% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,835 shares of the company's stock worth $76,000 after acquiring an additional 623 shares during the period. NewEdge Advisors LLC boosted its holdings in 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 acquiring an additional 1,401 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in GRAIL by 37.4% in the first 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 in the last quarter. Finally, JPMorgan Chase & Co. increased its position 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 purchasing an additional 42,675 shares during the period.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source