TD Cowen Issues Positive Forecast for GRAIL (NASDAQ:GRAL) Stock Price

GRAIL (NASDAQ:GRAL) had its target price upped by TD Cowen from $88.00 to $180.00 in a research report issued on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the stock. TD Cowen’s price target points to a potential upside of 27.60% from the stock’s previous close.

A number of other analysts have also issued reports on the company. Robert W. Baird increased their target price on GRAIL from $96.00 to $118.00 and gave the company an “outperform” rating in a report on Tuesday, September 22nd. Mizuho lifted their price target on GRAIL from $65.00 to $100.00 and gave the company a “neutral” rating in a report on Friday, September 25th. Weiss Ratings reiterated a “sell (d-)” rating on shares of GRAIL in a report on Friday, July 17th. Wall Street Zen raised GRAIL from a “sell” rating to a “hold” rating in a research report on Sunday, September 13th. Finally, UBS Group upped their price target on GRAIL from $105.00 to $175.00 and gave the company a “buy” rating in a research report on Friday, October 2nd. Five equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $119.80.

GRAIL Stock Performance

Shares of NASDAQ:GRAL traded up $3.69 during mid-day trading on Tuesday, hitting $141.06. The stock had a trading volume of 193,951 shares, compared to its average volume of 975,405. The company has a market cap of $6.30 billion, a PE ratio of -14.46 and a beta of 2.83. GRAIL has a 12-month low of $41.50 and a 12-month high of $166.48. The company’s 50 day moving average is $93.71 and its 200-day moving average is $72.85.

GRAIL (NASDAQ:GRAL) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($2.56) EPS for the quarter, topping analysts’ consensus estimates of ($2.66) by $0.10. GRAIL had a negative net margin of 236.95% and a negative return on equity of 15.88%. The firm had revenue of $44.69 million during the quarter, compared to analyst estimates of $42.39 million. On average, equities research analysts predict that GRAIL will post -10.41 EPS for the current fiscal year.

Insider Activity at GRAIL

In other GRAIL news, insider Andrew Partridge sold 7,873 shares of the company’s stock in a transaction that occurred on Monday, October 5th. The shares were sold at an average price of $146.39, for a total value of $1,152,528.47. Following the transaction, the insider owned 155,865 shares in the company, valued at approximately $22,817,077.35. This represents a 4.81% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Joshua Ofman sold 61,452 shares of the company’s stock in a transaction that occurred on Monday, September 21st. The shares were sold at an average price of $97.74, for a total transaction of $6,006,318.48. Following the completion of the transaction, the chief executive officer owned 362,271 shares in the company, valued at approximately $35,408,367.54. This represents a 14.50% 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. Over the last three months, insiders have sold 109,944 shares of company stock valued at $12,095,805. Corporate insiders own 1.83% of the company’s stock.

Hedge Funds Weigh In On GRAIL

Hedge funds have recently modified their holdings of the stock. Bank of America Corp DE boosted its position in GRAIL by 29.0% during the first quarter. Bank of America Corp DE now owns 914,114 shares of the company’s stock valued at $47,241,000 after purchasing an additional 205,611 shares during the last quarter. Russell Investments Group Ltd. grew its stake in GRAIL by 255.6% in the second quarter. Russell Investments Group Ltd. now owns 28,403 shares of the company’s stock valued at $1,939,000 after purchasing an additional 20,416 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in GRAIL in the 2nd quarter worth about $1,171,000. State Street Corp increased its position in GRAIL by 26.1% in the 2nd quarter. State Street Corp now owns 2,385,514 shares of the company’s stock worth $162,859,000 after purchasing an additional 493,621 shares during the last quarter. Finally, BlackRock Inc. increased its position in GRAIL by 20.5% in the 2nd quarter. BlackRock Inc. now owns 3,577,075 shares of the company’s stock worth $244,207,000 after purchasing an additional 608,539 shares during the last quarter.

About GRAIL

GRAIL, Inc is a healthcare company focused on developing blood-based technologies for the early detection of cancer. Its goal is to identify cancer signals before symptoms appear, when treatment may be more effective, by applying genomics, machine learning and other analytical methods to blood samples.

The company’s primary product is the Galleri multi-cancer early detection test, a prescription laboratory-developed test designed to screen for signals associated with multiple types of cancer from a single blood draw.