GRAIL (NASDAQ:GRAL) Trading Down 7.7% – Here’s What Happened

GRAIL, Inc. (NASDAQ:GRAL) shares traded down 7.7% on Friday . The stock traded as low as $106.78 and last traded at $107.1120. 88,259 shares changed hands during mid-day trading, a decline of 88% from the average session volume of 753,262 shares. The stock had previously closed at $116.06.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Morgan Stanley increased their price target on shares of GRAIL from $85.00 to $110.00 and gave the company an “equal weight” rating in a research note on Monday, December 1st. Guggenheim upgraded GRAIL from a “neutral” rating to a “buy” rating and set a $100.00 price objective on the stock in a research report on Wednesday, November 12th. Canaccord Genuity Group lifted their target price on GRAIL from $85.00 to $105.00 and gave the company a “buy” rating in a research note on Monday, November 17th. UBS Group set a $75.00 price target on GRAIL in a research note on Friday, October 3rd. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of GRAIL in a report on Thursday. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $97.50.

GRAIL Stock Performance

The company has a 50-day moving average price of $96.58 and a 200-day moving average price of $67.69. The firm has a market capitalization of $4.09 billion, a P/E ratio of -9.02 and a beta of 4.52.

GRAIL (NASDAQ:GRAL) last released its earnings results on Wednesday, November 12th. The company reported ($2.46) earnings per share for the quarter, beating the consensus estimate of ($3.40) by $0.94. The firm had revenue of $36.19 million for the quarter, compared to analyst estimates of $33.83 million. GRAIL had a negative return on equity of 15.69% and a negative net margin of 286.43%. Equities analysts predict that GRAIL, Inc. will post -15.15 EPS for the current year.

Institutional Investors Weigh In On GRAIL

Several large investors have recently bought and sold shares of the company. Comerica Bank boosted its position in shares of GRAIL by 59.2% during the third quarter. Comerica Bank now owns 465 shares of the company’s stock worth $27,000 after purchasing an additional 173 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in GRAIL by 768.1% during the second quarter. Farther Finance Advisors LLC now owns 816 shares of the company’s stock worth $42,000 after acquiring an additional 722 shares in the last quarter. NewEdge Advisors LLC lifted its holdings in GRAIL by 390.3% during the first quarter. NewEdge Advisors LLC now owns 1,760 shares of the company’s stock worth $45,000 after acquiring an additional 1,401 shares in the last quarter. Rossby Financial LCC acquired a new position in GRAIL in the third quarter valued at about $62,000. Finally, Atlantic Union Bankshares Corp bought a new stake in shares of GRAIL in the third quarter worth about $64,000.

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.