GRAIL (NASDAQ:GRAL) Stock Price Expected to Rise, Canaccord Genuity Group Analyst Says

Key Points

• Canaccord Genuity Group has raised the price target for GRAIL (NASDAQ:GRAL) from $75.00 to $85.00, maintaining a "buy" rating and indicating a potential upside of 7.48% from the previous close.
• Despite the optimistic outlook from Canaccord, GRAIL has a consensus rating of "Hold" among analysts with a current price target averaging $60.00.
• Insider trading activity shows that GRAIL executives sold shares recently, including President Joshua J. Ofman, who sold 6,114 shares for about $501,409.

GRAIL (NASDAQ:GRAL - Get Free Report) had its price target raised by Canaccord Genuity Group from $75.00 to $85.00 in a report issued on Wednesday,Benzinga reports. The firm currently has a "buy" rating on the stock. Canaccord Genuity Group's price target indicates a potential upside of 7.48% from the company's previous close.

A number of other research analysts also recently commented on GRAL. UBS Group set a $75.00 price objective on shares of GRAIL in a research report on Friday, October 3rd. Weiss Ratings reissued a "sell (d-)" rating on shares of GRAIL in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, GRAIL currently has a consensus rating of "Hold" and a consensus price target of $60.00.

GRAIL Stock Performance

GRAIL stock traded down $4.62 during mid-day trading on Wednesday, reaching $79.09. The company's stock had a trading volume of 233,140 shares, compared to its average volume of 1,277,302. The company has a market capitalization of $2.85 billion, a price-to-earnings ratio of -6.08 and a beta of 4.11. GRAIL has a 12 month low of $12.76 and a 12 month high of $103.00. The business's 50 day simple moving average is $48.38 and its 200 day simple moving average is $41.08.

GRAIL (NASDAQ:GRAL - Get Free Report) last announced its quarterly earnings data on Tuesday, August 12th. The company reported ($3.18) EPS for the quarter, missing analysts' consensus estimates of ($3.14) by ($0.04). GRAIL had a negative net margin of 329.86% and a negative return on equity of 16.64%. The firm had revenue of $35.54 million during the quarter, compared to the consensus estimate of $37.57 million. As a group, sell-side analysts expect that GRAIL will post -15.15 EPS for the current year.

Insider Activity

In other GRAIL news, President Joshua J. Ofman sold 6,114 shares of GRAIL stock in a transaction dated Thursday, October 16th. The shares were sold at an average price of $82.01, for a total value of $501,409.14. Following the completion of the sale, the president owned 381,818 shares in the company, valued at $31,312,894.18. The trade was a 1.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Robert P. Ragusa sold 7,239 shares of the company's stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $68.88, for a total transaction of $498,622.32. Following the sale, the chief executive officer directly owned 727,388 shares of the company's stock, valued at approximately $50,102,485.44. This trade represents a 0.99% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 117,497 shares of company stock valued at $7,515,436 in the last quarter.

Institutional Trading of GRAIL

Institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in GRAIL by 3.4% during the 1st quarter. Vanguard Group Inc. now owns 1,499,740 shares of the company's stock worth $38,303,000 after purchasing an additional 48,645 shares in the last quarter. AQR Capital Management LLC increased its position in GRAIL by 61.0% in the 1st quarter. AQR Capital Management LLC now owns 1,337,163 shares of the company's stock valued at $33,991,000 after acquiring an additional 506,440 shares during the period. Geode Capital Management LLC increased its position in GRAIL by 60.4% in the 2nd quarter. Geode Capital Management LLC now owns 757,770 shares of the company's stock valued at $38,969,000 after acquiring an additional 285,331 shares during the period. Wealthquest Corp acquired a new position in GRAIL in the 1st quarter valued at approximately $18,247,000. Finally, Bank of New York Mellon Corp boosted its stake in shares of GRAIL by 7.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 350,979 shares of the company's stock valued at $18,047,000 after purchasing an additional 25,548 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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