GRAIL (NASDAQ:GRAL) Trading 15.8% Higher – Still a Buy?

GRAIL, Inc. (NASDAQ:GRAL) shares shot up 15.8% during trading on Tuesday . The company traded as high as $46.16 and last traded at $49.8210. 467,142 shares were traded during trading, a decline of 65% from the average session volume of 1,337,746 shares. The stock had previously closed at $43.03.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on GRAL. Robert W. Baird set a $82.00 target price on GRAIL in a report on Friday, February 20th. TD Cowen initiated coverage on shares of GRAIL in a research note on Thursday, February 19th. They issued a “hold” rating and a $114.00 price objective for the company. Weiss Ratings restated a “sell (d-)” rating on shares of GRAIL in a research note on Thursday, January 22nd. Guggenheim increased their price target on GRAIL from $100.00 to $130.00 and gave the company a “buy” rating in a research report on Monday, January 26th. Finally, Morgan Stanley dropped their price target on GRAIL from $110.00 to $60.00 and set an “equal weight” rating on the stock in a report on Tuesday. Three investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $90.17.

GRAIL Trading Up 11.3%

The firm has a fifty day moving average of $94.24 and a two-hundred day moving average of $76.55. The company has a market cap of $2.25 billion, a PE ratio of -5.11 and a beta of 4.52.

GRAIL (NASDAQ:GRAL) last issued its earnings results on Thursday, February 19th. The company reported ($2.44) earnings per share for the quarter, topping analysts’ consensus estimates of ($3.33) by $0.89. GRAIL had a negative net margin of 277.46% and a negative return on equity of 17.58%. The firm had revenue of $43.60 million during the quarter, compared to analyst estimates of $43.33 million. Sell-side analysts expect that GRAIL, Inc. will post -15.15 EPS for the current fiscal year.

Institutional Trading of GRAIL

A number of institutional investors have recently added to or reduced their stakes in the stock. Perigon Wealth Management LLC increased its position in shares of GRAIL by 0.7% during the fourth quarter. Perigon Wealth Management LLC now owns 19,450 shares of the company’s stock valued at $1,665,000 after buying an additional 133 shares during the period. Parallel Advisors LLC increased its position in shares of GRAIL by 5.2% in the fourth quarter. Parallel Advisors LLC now owns 2,667 shares of the company’s stock worth $228,000 after purchasing an additional 133 shares during the last quarter. Westmount Partners LLC lifted its holdings in shares of GRAIL by 1.8% during the 4th quarter. Westmount Partners LLC now owns 8,279 shares of the company’s stock worth $709,000 after acquiring an additional 150 shares during the last quarter. Comerica Bank raised its holdings in shares of GRAIL by 59.2% during the 3rd quarter. Comerica Bank now owns 465 shares of the company’s stock valued at $27,000 after buying an additional 173 shares in the last quarter. Finally, Whittier Trust Co. boosted its stake in GRAIL by 19.3% in the fourth quarter. Whittier Trust Co. now owns 1,114 shares of the company’s stock worth $95,000 after buying an additional 180 shares in the last quarter.

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.