Robert W. Baird Begins Coverage on GRAIL (NASDAQ:GRAL)

Investment analysts at Robert W. Baird began coverage on shares of GRAIL (NASDAQ:GRAL) in a research note issued to investors on Tuesday, Marketbeat reports. The brokerage set an “outperform” rating and a $113.00 price target on the stock. Robert W. Baird’s price target points to a potential upside of 10.48% from the company’s previous close.

Several other research firms have also issued reports on GRAL. Guggenheim raised their price target on GRAIL from $100.00 to $130.00 and gave the stock a “buy” rating in a research report on Monday, January 26th. Morgan Stanley raised their target price on GRAIL from $85.00 to $110.00 and gave the stock an “equal weight” rating in a report on Monday, December 1st. Canaccord Genuity Group upped their price target on GRAIL from $85.00 to $105.00 and gave the company a “buy” rating in a research note on Monday, November 17th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of GRAIL in a research note on Thursday, January 22nd. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $106.60.

GRAIL Price Performance

Shares of NASDAQ GRAL opened at $102.28 on Tuesday. GRAIL has a fifty-two week low of $20.44 and a fifty-two week high of $118.84. The firm has a market capitalization of $3.99 billion, a P/E ratio of -8.79 and a beta of 4.52. The company’s 50 day simple moving average is $97.29 and its 200 day simple moving average is $75.64.

Hedge Funds Weigh In On GRAIL

Several hedge funds have recently made changes to their positions in GRAL. Farallon Capital Management LLC lifted its position in shares of GRAIL by 73.7% in the fourth quarter. Farallon Capital Management LLC now owns 2,342,684 shares of the company’s stock worth $200,510,000 after purchasing an additional 993,684 shares in the last quarter. Baker BROS. Advisors LP boosted its stake in shares of GRAIL by 27.9% during the 4th quarter. Baker BROS. Advisors LP now owns 2,085,333 shares of the company’s stock worth $178,484,000 after buying an additional 455,208 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of GRAIL by 9.0% in the 4th quarter. Vanguard Group Inc. now owns 1,980,783 shares of the company’s stock valued at $169,535,000 after acquiring an additional 163,790 shares in the last quarter. State Street Corp increased its position in shares of GRAIL by 38.8% in the fourth quarter. State Street Corp now owns 1,827,523 shares of the company’s stock valued at $156,418,000 after acquiring an additional 510,546 shares during the last quarter. Finally, Morgan Stanley raised its holdings in GRAIL by 63.8% during the fourth quarter. Morgan Stanley now owns 1,511,687 shares of the company’s stock worth $129,385,000 after acquiring an additional 588,647 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.