Guggenheim Cuts GRAIL (NASDAQ:GRAL) Price Target to $75.00

GRAIL (NASDAQ:GRAL) had its price objective reduced by Guggenheim from $130.00 to $75.00 in a report published on Monday morning,Benzinga reports. Guggenheim currently has a buy rating on the stock.

GRAL has been the subject of several other research reports. Robert W. Baird set a $82.00 price target on GRAIL in a report on Friday, February 20th. Canaccord Genuity Group lowered their price objective on GRAIL from $105.00 to $80.00 and set a “buy” rating on the stock in a research report on Friday, February 20th. Weiss Ratings reiterated 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 report on Wednesday, March 18th. Finally, Morgan Stanley decreased their target price on shares of GRAIL from $110.00 to $60.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 24th. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $72.83.

GRAIL Price Performance

Shares of GRAL stock opened at $53.60 on Monday. GRAIL has a 1 year low of $20.44 and a 1 year high of $118.84. The firm has a fifty day moving average price of $71.53 and a 200-day moving average price of $79.30. The company has a market cap of $2.20 billion, a price-to-earnings ratio of -4.79 and a beta of 4.59.

GRAIL (NASDAQ:GRAL) last announced its earnings results on Thursday, February 19th. The company reported ($2.44) EPS for the quarter, topping analysts’ consensus estimates of ($3.33) by $0.89. The company had revenue of $43.60 million for the quarter, compared to analysts’ expectations of $43.33 million. GRAIL had a negative return on equity of 17.11% and a negative net margin of 277.46%. Equities research analysts expect that GRAIL will post -15.15 EPS for the current year.

Insiders Place Their Bets

In other news, President Joshua J. Ofman sold 2,937 shares of the company’s stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $47.89, for a total value of $140,652.93. Following the completion of the transaction, the president owned 432,881 shares of the company’s stock, valued at $20,730,671.09. This represents a 0.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Aaron Freidin sold 2,492 shares of the company’s stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $47.89, for a total value of $119,341.88. Following the completion of the transaction, the chief financial officer directly owned 306,475 shares of the company’s stock, valued at approximately $14,677,087.75. This trade represents a 0.81% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 79,294 shares of company stock worth $3,955,224. Corporate insiders own 1.85% of the company’s stock.

Institutional Trading of GRAIL

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Royal Bank of Canada boosted its stake in GRAIL by 17.7% in the 1st quarter. Royal Bank of Canada now owns 88,082 shares of the company’s stock worth $2,250,000 after purchasing an additional 13,264 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of GRAIL by 28.2% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,835 shares of the company’s stock valued at $76,000 after buying an additional 623 shares during the last quarter. NewEdge Advisors LLC raised its position in shares of GRAIL by 390.3% during the first quarter. NewEdge Advisors LLC now owns 1,760 shares of the company’s stock valued at $45,000 after buying an additional 1,401 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of GRAIL by 37.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 92,465 shares of the company’s stock worth $2,362,000 after buying an additional 25,177 shares in the last quarter. Finally, Creative Planning purchased a new position in shares of GRAIL in the second quarter worth $725,000.

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.