Brokerages Set GRAIL, Inc. (NASDAQ:GRAL) Price Target at $67.78

GRAIL, Inc. (NASDAQ:GRAL) has received a consensus recommendation of “Hold” from the eleven brokerages that are presently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and five have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $71.1111.

Several equities research analysts recently issued reports on the stock. The Goldman Sachs Group began coverage on shares of GRAIL in a research note on Friday, June 5th. They set a “neutral” rating and a $60.00 price target on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of GRAIL in a report on Friday, July 17th. Mizuho boosted their target price on shares of GRAIL from $58.00 to $65.00 and gave the company a “neutral” rating in a research note on Wednesday, July 15th. TD Cowen reissued a “buy” rating on shares of GRAIL in a research note on Wednesday, July 15th. Finally, Wolfe Research assumed coverage on GRAIL in a research note on Tuesday, June 2nd. They set a “peer perform” rating for the company.

GRAIL Stock Down 1.7%

NASDAQ:GRAL opened at $76.23 on Monday. The stock has a market capitalization of $3.40 billion, a price-to-earnings ratio of -7.82 and a beta of 3.25. The stock’s fifty day moving average is $73.49 and its two-hundred day moving average is $62.55. GRAIL has a 52 week low of $36.87 and a 52 week high of $118.84.

GRAIL (NASDAQ:GRAL) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($2.56) earnings per share for the quarter, beating 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 during the quarter, compared to the consensus estimate of $42.39 million. On average, sell-side analysts expect that GRAIL will post -10.41 EPS for the current fiscal year.

Insiders Place Their Bets

In other GRAIL news, CFO Aaron Freidin sold 7,900 shares of the company’s stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $85.01, for a total transaction of $671,579.00. Following the sale, the chief financial officer directly owned 253,083 shares of the company’s stock, valued at approximately $21,514,585.83. This represents a 3.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Joshua Ofman sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $85.02, for a total transaction of $425,100.00. Following the completion of the transaction, the chief executive officer owned 397,271 shares of the company’s stock, valued at $33,775,980.42. This trade represents a 1.24% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 1.83% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Royal Bank of Canada grew its holdings in shares of GRAIL by 17.7% during the 1st quarter. Royal Bank of Canada now owns 88,082 shares of the company’s stock valued at $2,250,000 after purchasing an additional 13,264 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in GRAIL by 28.2% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,835 shares of the company’s stock valued at $76,000 after purchasing an additional 623 shares during the last quarter. NewEdge Advisors LLC grew its holdings in GRAIL by 390.3% during the 1st quarter. NewEdge Advisors LLC now owns 1,760 shares of the company’s stock worth $45,000 after acquiring an additional 1,401 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in GRAIL by 37.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 92,465 shares of the company’s stock valued at $2,362,000 after acquiring an additional 25,177 shares during the period. Finally, JPMorgan Chase & Co. increased its position in GRAIL by 115.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 79,544 shares of the company’s stock valued at $4,090,000 after acquiring an additional 42,675 shares during the period.

GRAIL Company Profile

GRAIL, Inc is a healthcare company focused on developing blood-based tests for the early detection of cancer. Its technology uses genomic and epigenomic signals, including patterns of DNA methylation, to identify signals associated with multiple cancer types from a single blood sample.

The company’s primary product is Galleri, a prescription blood test designed to screen for signals of more than 50 types of cancer, including cancers that currently lack recommended screening methods. Galleri is intended to complement, not replace, guideline-recommended cancer screenings, and a positive result requires follow-up diagnostic testing to determine whether cancer is present and where it may be located.

GRAIL was founded in 2016 as a subsidiary of Illumina and became an independent publicly traded company following its separation from Illumina in 2021.