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

GRAIL (NASDAQ:GRAL) had its price objective hoisted by stock analysts at Canaccord Genuity Group from $85.00 to $105.00 in a research note issued on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective would indicate a potential upside of 28.90% from the stock’s current price.

Several other research analysts have also commented on the company. UBS Group set a $75.00 price target on GRAIL in a research report on Friday, October 3rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of GRAIL in a research note on Wednesday, October 8th. Finally, Guggenheim raised GRAIL from a “neutral” rating to a “buy” rating and set a $100.00 target price on the stock in a research report on Wednesday, November 12th. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, GRAIL currently has a consensus rating of “Hold” and an average price target of $75.00.

GRAIL Stock Down 4.1%

GRAIL stock opened at $81.46 on Monday. The company has a market cap of $3.18 billion, a price-to-earnings ratio of -7.00 and a beta of 4.29. The firm’s fifty day moving average is $68.69 and its 200 day moving average is $49.07. GRAIL has a 52-week low of $13.79 and a 52-week high of $103.00.

GRAIL (NASDAQ:GRAL) last issued its quarterly earnings data on Wednesday, November 12th. The company reported ($2.46) EPS for the quarter, topping analysts’ consensus estimates of ($3.40) by $0.94. The business had revenue of $36.19 million during the quarter, compared to analysts’ expectations of $33.83 million. GRAIL had a negative net margin of 286.43% and a negative return on equity of 15.69%. On average, equities research analysts anticipate that GRAIL will post -15.15 earnings per share for the current fiscal year.

Insider Activity

In other news, President Joshua J. Ofman sold 6,114 shares of the stock in a transaction that occurred on Thursday, October 16th. The stock was sold at an average price of $82.01, for a total value of $501,409.14. Following the sale, the president directly owned 381,818 shares in the company, valued at approximately $31,312,894.18. This represents a 1.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Robert P. Ragusa sold 7,239 shares of the firm’s stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $68.88, for a total value of $498,622.32. Following the sale, the chief executive officer directly owned 727,388 shares of the company’s stock, valued at $50,102,485.44. This represents a 0.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 113,295 shares of company stock valued at $7,380,888.

Institutional Trading of GRAIL

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in shares of GRAIL by 3.4% during the first quarter. Vanguard Group Inc. now owns 1,499,740 shares of the company’s stock worth $38,303,000 after purchasing an additional 48,645 shares during the last quarter. Farallon Capital Management LLC lifted its holdings in GRAIL by 168.7% during the 3rd quarter. Farallon Capital Management LLC now owns 1,349,000 shares of the company’s stock valued at $79,766,000 after buying an additional 847,000 shares in the last quarter. AQR Capital Management LLC lifted its holdings in GRAIL by 61.0% during the 1st quarter. AQR Capital Management LLC now owns 1,337,163 shares of the company’s stock valued at $33,991,000 after buying an additional 506,440 shares in the last quarter. Geode Capital Management LLC boosted its position in GRAIL by 60.4% in the 2nd quarter. Geode Capital Management LLC now owns 757,770 shares of the company’s stock valued at $38,969,000 after buying an additional 285,331 shares during the period. Finally, Wealthquest Corp bought a new position in GRAIL in the 1st quarter worth about $18,247,000.

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.