GRAIL (NASDAQ:GRAL) Shares Up 7% - Time to Buy?

Key Points

• GRAIL shares rose 7% to about $133.40, with the stock trading well above its 50-day and 200-day moving averages. The company has a $5.97 billion market capitalization and a high beta of 2.83.
• Analyst sentiment remains mixed: five analysts rate GRAIL a Buy, six recommend Hold and one recommends Sell. Although several firms raised price targets as high as $180, the consensus rating is Hold with a $119.80 target, below the current share price.
• GRAIL exceeded quarterly revenue and EPS expectations, reporting $44.69 million in revenue and an adjusted loss of $2.56 per share, but remains deeply unprofitable. Insiders sold nearly 130,000 shares worth $14.8 million during the last quarter.

GRAIL, Inc. (NASDAQ:GRAL - Get Free Report) rose 7% during trading on Wednesday. The stock traded as high as $133.36 and last traded at $133.4040. 250,273 shares changed hands during mid-day trading, a decline of 74% from the average daily volume of 970,710 shares. The stock had previously closed at $124.67.

Wall Street Analyst Weigh In

GRAL has been the topic of a number of analyst reports. TD Cowen lifted their price objective on GRAIL from $88.00 to $180.00 and gave the company a "buy" rating in a research report on Tuesday, October 13th. Canaccord Genuity Group increased their target price on shares of GRAIL from $80.00 to $150.00 and gave the stock a "buy" rating in a report on Monday, September 28th. Guggenheim raised their target price on shares of GRAIL from $75.00 to $155.00 and gave the stock a "buy" rating in a research note on Thursday, October 1st. Royal Bank Of Canada began coverage on shares of GRAIL in a report on Thursday, September 17th. They set a "sector perform" rating and a $84.00 price target on the stock. Finally, Morgan Stanley upped their price target on shares of GRAIL from $60.00 to $120.00 and gave the stock an "equal weight" rating in a research report on Monday, October 12th. Five research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $119.80.

GRAIL Stock Up 7.2%

The company has a market capitalization of $5.97 billion, a PE ratio of -13.70 and a beta of 2.83. The company's 50 day moving average is $100.72 and its two-hundred day moving average is $76.20.

GRAIL (NASDAQ:GRAL - Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported ($2.56) earnings per share (EPS) for the quarter, topping the consensus estimate of ($2.66) by $0.10. The firm had revenue of $44.69 million for the quarter, compared to analysts' expectations of $42.39 million. GRAIL had a negative return on equity of 15.88% and a negative net margin of 236.95%. Analysts forecast that GRAIL, Inc. will post -10.42 EPS for the current year.

Insider Buying and Selling at GRAIL

In other GRAIL news, insider Andrew Partridge sold 7,873 shares of GRAIL stock in a transaction that occurred on Monday, October 5th. The stock was sold at an average price of $146.39, for a total value of $1,152,528.47. Following the sale, the insider owned 155,865 shares of the company's stock, valued at $22,817,077.35. The trade was a 4.81% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Aaron Freidin sold 23,619 shares of the company's stock in a transaction that occurred on Monday, October 5th. The stock was sold at an average price of $146.39, for a total value of $3,457,585.41. Following the sale, the chief financial officer directly owned 225,364 shares in the company, valued at $32,991,035.96. This trade represents a 9.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 129,944 shares of company stock worth $14,832,805 in the last quarter. 1.83% of the stock is owned by corporate insiders.

Institutional Trading of GRAIL

Hedge funds have recently made changes to their positions in the business. Caitong International Asset Management Co. Ltd bought a new stake in shares of GRAIL during the 4th quarter worth approximately $28,000. Fifth Third Bancorp lifted its stake in GRAIL by 15,733.3% in the first quarter. Fifth Third Bancorp now owns 475 shares of the company's stock worth $25,000 after acquiring an additional 472 shares during the period. Allworth Financial LP bought a new position in GRAIL during the 2nd quarter worth about $35,000. Geneos Wealth Management Inc. raised its holdings in shares of GRAIL by 160.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 585 shares of the company's stock valued at $30,000 after purchasing an additional 360 shares in the last quarter. Finally, CoreCap Advisors LLC lifted its position in shares of GRAIL by 107,400.0% in the 3rd quarter. CoreCap Advisors LLC now owns 1,075 shares of the company's stock worth $151,000 after purchasing an additional 1,074 shares during the period.

GRAIL Company Profile

GRAIL, Inc NASDAQ: GRAL is a healthcare company focused on developing blood-based screening technologies for the early detection of cancer. Its principal product is Galleri, a multi-cancer early detection test designed to identify DNA patterns associated with multiple types of cancer from a single blood sample.

Galleri is intended for use alongside recommended cancer screenings and is available by prescription through qualified healthcare providers in the United States. The test is offered as a laboratory-developed test and has not been approved or cleared by the U.S.

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