Mizuho Initiates Coverage on GRAIL (NASDAQ:GRAL)

Key Points

• Mizuho initiated coverage on GRAIL (NASDAQ:GRAL) with a "neutral" rating and a $58 price target, implying about a 21.95% upside from the current price.
• Analyst sentiment is mixed — four Buys, three Holds and one Sell — leaving a MarketBeat consensus rating of Hold with a consensus price target of $68.63.
• Insider selling: CEO Robert Ragusa and President Joshua Ofman sold 123,502 and 61,665 shares respectively on April 8 (insiders sold 310,267 shares in the past 90 days), reducing their positions.

Analysts at Mizuho initiated coverage on shares of GRAIL (NASDAQ:GRAL - Get Free Report) in a note issued to investors on Friday,Benzinga reports. The brokerage set a "neutral" rating and a $58.00 price target on the stock. Mizuho's price target suggests a potential upside of 21.95% from the company's current price.

Several other equities analysts have also recently issued reports on the stock. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of GRAIL in a research note on Thursday, January 22nd. TD Cowen raised shares of GRAIL from a "hold" rating to a "buy" rating and set a $65.00 target price for the company in a research note on Wednesday, March 18th. Guggenheim reduced their target price on shares of GRAIL from $130.00 to $75.00 and set a "buy" rating for the company in a report on Monday, March 30th. Morgan Stanley decreased 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. Finally, Canaccord Genuity Group cut their price objective on GRAIL from $105.00 to $80.00 and set a "buy" rating for the company in a research report on Friday, February 20th. Four analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $68.63.

GRAIL Stock Performance

GRAL opened at $47.56 on Friday. The company has a market capitalization of $1.95 billion, a PE ratio of -4.25 and a beta of 4.62. The stock's fifty day moving average is $64.95 and its 200-day moving average is $79.53. GRAIL has a one year low of $21.80 and a one year high of $118.84.

GRAIL (NASDAQ:GRAL - Get Free Report) last released its earnings results on Thursday, February 19th. The company reported ($2.44) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($3.33) by $0.89. GRAIL had a negative return on equity of 17.11% and a negative net margin of 277.46%.The firm had revenue of $43.60 million for the quarter, compared to analyst estimates of $43.33 million. On average, equities research analysts forecast that GRAIL will post -15.15 EPS for the current fiscal year.

Insider Buying and Selling at GRAIL

In other news, President Joshua J. Ofman sold 61,665 shares of the business's stock in a transaction that occurred 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 sale, the president owned 371,216 shares in the company, valued at $18,531,102.72. The trade was a 14.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Robert P. Ragusa sold 123,502 shares of the company's stock in a transaction that occurred 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 completion of the sale, the chief executive officer owned 518,582 shares of the company's stock, valued at approximately $25,887,613.44. This trade represents a 19.23% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 310,267 shares of company stock valued at $15,485,396. 1.85% of the stock is currently owned by corporate insiders.

Institutional Trading of GRAIL

Hedge funds have recently modified their holdings of the business. N.E.W. Advisory Services LLC purchased a new position in shares of GRAIL during the fourth quarter valued at $26,000. Comerica Bank lifted its stake in GRAIL by 59.2% in the 3rd quarter. Comerica Bank now owns 465 shares of the company's stock worth $27,000 after acquiring an additional 173 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in GRAIL in the 4th quarter worth about $28,000. Elyxium Wealth LLC acquired a new stake in GRAIL during the 4th quarter worth about $31,000. Finally, Intesa Sanpaolo S.p.A. acquired a new stake in GRAIL during the 4th quarter worth about $44,000.

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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