Canaccord Genuity Group Raises GRAIL (NASDAQ:GRAL) Price Target to $85.00

GRAIL (NASDAQ:GRAL) had its price objective increased by Canaccord Genuity Group from $75.00 to $85.00 in a report issued on Wednesday, Marketbeat reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group’s target price would suggest a potential upside of 2.84% from the stock’s current price.

GRAL has been the subject of a number of other reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of GRAIL in a report on Wednesday, October 8th. UBS Group set a $75.00 price target on shares of GRAIL in a report on Friday, October 3rd. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $60.00.

GRAIL Stock Performance

Shares of GRAIL stock opened at $82.65 on Wednesday. GRAIL has a 52-week low of $12.76 and a 52-week high of $103.00. The stock has a market capitalization of $2.98 billion, a price-to-earnings ratio of -6.30 and a beta of 4.11. The company has a fifty day moving average of $50.30 and a 200-day moving average of $41.75.

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

Insider Buying and Selling at GRAIL

In other GRAIL news, CEO Robert P. Ragusa sold 7,239 shares of the company’s stock in a transaction on Wednesday, October 15th. The shares were sold at an average price of $68.88, for a total value of $498,622.32. Following the completion of the transaction, the chief executive officer directly owned 727,388 shares in the company, valued at approximately $50,102,485.44. This represents a 0.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Joshua J. Ofman sold 81,385 shares of the company’s stock in a transaction on Monday, October 6th. The stock was sold at an average price of $62.50, for a total transaction of $5,086,562.50. Following the completion of the transaction, the president owned 396,797 shares of the company’s stock, valued at $24,799,812.50. This trade represents a 17.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 117,497 shares of company stock valued at $7,515,436 over the last 90 days. Company insiders own 1.85% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Wealth Enhancement Advisory Services LLC raised its holdings in GRAIL by 21.4% in the 2nd 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 in the last quarter. Scientech Research LLC bought a new position in GRAIL in the 1st quarter worth $644,000. Wesbanco Bank Inc. raised its holdings in GRAIL by 39.1% in the 2nd quarter. Wesbanco Bank Inc. now owns 44,500 shares of the company’s stock worth $2,288,000 after purchasing an additional 12,500 shares in the last quarter. Dakota Wealth Management purchased a new stake in shares of GRAIL in the 2nd quarter worth about $2,656,000. Finally, Raymond James Financial Inc. grew its position in shares of GRAIL by 354.7% in the 1st quarter. Raymond James Financial Inc. now owns 121,169 shares of the company’s stock worth $3,095,000 after buying an additional 94,518 shares during the period.

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.