GRAIL (NASDAQ:GRAL) Stock Price Expected to Rise, Canaccord Genuity Group Analyst Says

GRAIL (NASDAQ:GRAL) had its target price lifted by stock analysts at Canaccord Genuity Group from $43.00 to $75.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group’s target price indicates a potential upside of 14.43% from the company’s previous close.

Separately, UBS Group set a $75.00 target price on GRAIL in a research report on Friday. One investment analyst has rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $56.67.

GRAIL Price Performance

GRAIL stock opened at $65.54 on Friday. The company has a market capitalization of $2.36 billion, a PE ratio of -5.00 and a beta of 4.11. GRAIL has a one year low of $12.33 and a one year high of $73.74. The business has a 50 day simple moving average of $38.69 and a 200 day simple moving average of $37.18.

GRAIL (NASDAQ:GRAL) last posted its earnings results on Tuesday, August 12th. The company reported ($3.18) EPS for the quarter, missing the consensus estimate of ($3.14) by ($0.04). The company had revenue of $35.54 million for the quarter, compared to the consensus estimate of $37.57 million. GRAIL had a negative return on equity of 16.64% and a negative net margin of 329.86%. Equities analysts anticipate that GRAIL will post -15.15 earnings per share for the current fiscal year.

Insider Buying and Selling at GRAIL

In related news, CFO Aaron Freidin sold 8,000 shares of GRAIL stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $38.93, for a total transaction of $311,440.00. Following the completion of the sale, the chief financial officer directly owned 286,020 shares of the company’s stock, valued at $11,134,758.60. The trade was a 2.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, President Joshua J. Ofman sold 9,692 shares of GRAIL stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $64.00, for a total value of $620,288.00. Following the sale, the president directly owned 478,182 shares of the company’s stock, valued at approximately $30,603,648. This trade represents a 1.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 21,894 shares of company stock valued at $1,066,276 over the last three months. Insiders own 1.85% of the company’s stock.

Institutional Investors Weigh In On GRAIL

Institutional investors have recently made changes to their positions in the stock. Wealth Enhancement Advisory Services LLC grew its stake in shares of GRAIL by 21.4% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 34,195 shares of the company’s stock worth $1,758,000 after purchasing an additional 6,032 shares during the period. GAMMA Investing LLC lifted its holdings in GRAIL by 4,102.5% during the first quarter. GAMMA Investing LLC now owns 25,131 shares of the company’s stock worth $642,000 after acquiring an additional 24,533 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in GRAIL during the fourth quarter worth about $1,201,000. Two Sigma Advisers LP bought a new position in GRAIL during the fourth quarter worth about $345,000. Finally, Scientech Research LLC bought a new position in GRAIL during the first quarter worth about $644,000.

About GRAIL

GRAIL, Inc operates as a commercial-stage healthcare company, which engages in the development of a technology for early detection of cancer. It utilizes machine learning, software, and automation to detect and identify multiple deadly cancer types in earlier stages. The company was founded by Jeffrey T.