GRAIL (NASDAQ:GRAL) Stock Price Down 4.2% - Here's Why

Key Points

• GRAIL shares fell 4.2% to $79.00 in thin trading, with volume down 95% from the stock’s average daily volume.
• Analysts maintain a cautious outlook: GRAIL has an average “Hold” rating and a consensus price target of $67.78, below the current share price.
• Although quarterly revenue of $44.69 million and adjusted EPS of -$2.56 exceeded estimates, the company remains unprofitable, with a negative net margin of 236.95% and projected full-year EPS of -$10.41.

GRAIL, Inc. (NASDAQ:GRAL - Get Free Report) shares traded down 4.2% during trading on Friday . The stock traded as low as $77.70 and last traded at $79.00. 42,698 shares changed hands during trading, a decline of 95% from the average daily volume of 916,015 shares. The stock had previously closed at $82.50.

Analysts Set New Price Targets

GRAL has been the topic of a number of analyst reports. Mizuho increased their price target on GRAIL from $58.00 to $65.00 and gave the company a "neutral" rating in a research report on Wednesday, July 15th. Piper Sandler boosted their price objective on GRAIL from $54.00 to $56.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 6th. Robert W. Baird set a $70.00 target price on shares of GRAIL in a report on Wednesday, May 6th. Wall Street Zen upgraded shares of GRAIL from a "sell" rating to a "hold" rating in a research note on Saturday, May 9th. Finally, The Goldman Sachs Group assumed coverage on shares of GRAIL in a report on Friday, June 5th. They set a "neutral" rating and a $60.00 price target for the company. Four analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, GRAIL currently has an average rating of "Hold" and a consensus target price of $67.78.

GRAIL Stock Down 4.5%

The company has a market capitalization of $3.52 billion, a PE ratio of -8.08 and a beta of 3.24. The stock's fifty day simple moving average is $70.61 and its 200-day simple moving average is $63.53.

GRAIL (NASDAQ:GRAL - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The company reported ($2.56) EPS for the quarter, topping the consensus estimate 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 business had revenue of $44.69 million for the quarter, compared to analyst estimates of $42.39 million. Analysts expect that GRAIL, Inc. will post -10.41 EPS for the current year.

Insider Activity

In other GRAIL news, insider Andrew John Partridge sold 1,491 shares of the stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $61.08, for a total transaction of $91,070.28. Following the transaction, the insider owned 163,738 shares of the company's stock, valued at $10,001,117.04. This represents a 0.90% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 1.83% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On GRAIL

A number of large investors have recently modified their holdings of GRAL. Fifth Third Bancorp raised its stake in shares of GRAIL by 15,733.3% during the first quarter. Fifth Third Bancorp now owns 475 shares of the company's stock valued at $25,000 after purchasing an additional 472 shares during the period. Comerica Bank increased its holdings in GRAIL by 59.2% during the 3rd quarter. Comerica Bank now owns 465 shares of the company's stock worth $27,000 after purchasing an additional 173 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in GRAIL in the fourth quarter valued at $28,000. Geneos Wealth Management Inc. raised its stake 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, Elyxium Wealth LLC bought a new position in GRAIL during the 4th quarter worth approximately $31,000.

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.

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