GRAIL (NASDAQ:GRAL) Trading Up 9.1% - What's Next?

Key Points

• GRAIL, Inc. shares rose by 9.1% during mid-day trading, with a last traded price of $38.66, although trading volume was significantly lower than average.
• Analysts at Canaccord Genuity raised their price target for GRAIL from $32.00 to $43.00 and maintained a "buy" rating, while the consensus rating for the stock is currently a "Hold" with a target price of $31.50.
• The company reported a quarterly earnings per share (EPS) of ($3.18), missing estimates, and had a negative net margin of 329.86% for the quarter.

GRAIL, Inc. (NASDAQ:GRAL - Get Free Report) rose 9.1% during mid-day trading on Thursday . The stock traded as high as $36.28 and last traded at $38.66. Approximately 22,800 shares traded hands during trading, a decline of 98% from the average daily volume of 1,299,049 shares. The stock had previously closed at $35.42.

GRAIL Trading Down 1.4%

The firm has a market cap of $1.40 billion, a P/E ratio of -2.96 and a beta of 3.20. The firm has a 50-day simple moving average of $35.55 and a 200-day simple moving average of $35.44.

GRAIL (NASDAQ:GRAL - Get Free Report) last posted its quarterly earnings data on Tuesday, August 12th. The company reported ($3.18) earnings per share for the quarter, missing analysts' consensus estimates of ($3.14) by ($0.04). The business had revenue of $35.54 million during the quarter, compared to analyst estimates of $37.57 million. GRAIL had a negative return on equity of 16.64% and a negative net margin of 329.86%. Research analysts predict that GRAIL, Inc. will post -15.15 earnings per share for the current fiscal year.

Insider Transactions at GRAIL

In other news, President Joshua J. Ofman sold 4,202 shares of the firm's stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $32.02, for a total value of $134,548.04. Following the completion of the sale, the president owned 487,874 shares of the company's stock, valued at $15,621,725.48. This trade represents a 0.85% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Aaron Freidin sold 8,000 shares of the firm's stock in a transaction 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 completion of the sale, 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 position. The disclosure for this sale can be found here. Insiders sold 361,694 shares of company stock valued at $17,780,266 in the last quarter. 1.85% of the stock is currently owned by corporate insiders.

Institutional Trading of GRAIL

A number of institutional investors have recently made changes to their positions in the business. Caldwell Sutter Capital Inc. acquired a new stake in GRAIL during the 1st quarter worth about $28,000. KBC Group NV lifted its position in GRAIL by 187.7% during the 1st quarter. KBC Group NV now owns 1,430 shares of the company's stock worth $37,000 after acquiring an additional 933 shares during the period. S.A. Mason LLC lifted its position in GRAIL by 50.1% during the 1st quarter. S.A. Mason LLC now owns 1,499 shares of the company's stock worth $38,000 after acquiring an additional 500 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in GRAIL during the 4th quarter worth about $41,000. Finally, Farther Finance Advisors LLC lifted its position in GRAIL by 768.1% during the 2nd quarter. Farther Finance Advisors LLC now owns 816 shares of the company's stock worth $42,000 after acquiring an additional 722 shares during the period.

About GRAIL

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.