GRAIL (NASDAQ:GRAL) Upgraded to Buy at TD Cowen

TD Cowen upgraded shares of GRAIL (NASDAQ:GRAL) from a hold rating to a buy rating in a research note released on Wednesday, MarketBeat.com reports. TD Cowen currently has $65.00 price objective on the stock.

Several other equities analysts have also weighed in on GRAL. Morgan Stanley cut their price objective on shares of GRAIL from $110.00 to $60.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 24th. Robert W. Baird set a $82.00 target price on shares of GRAIL in a research report on Friday, February 20th. Weiss Ratings reissued a “sell (d-)” rating on shares of GRAIL in a research note on Thursday, January 22nd. Canaccord Genuity Group reduced their price target on GRAIL from $105.00 to $80.00 and set a “buy” rating on the stock in a research report on Friday, February 20th. Finally, Guggenheim lifted their price objective on GRAIL from $100.00 to $130.00 and gave the stock a “buy” rating in a research note on Monday, January 26th. Four research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, GRAIL has an average rating of “Moderate Buy” and an average target price of $82.00.

GRAIL Stock Up 2.2%

Shares of GRAL stock opened at $48.41 on Wednesday. The firm has a market cap of $1.99 billion, a price-to-earnings ratio of -4.33 and a beta of 5.18. GRAIL has a 12 month low of $20.44 and a 12 month high of $118.84. The stock has a 50-day moving average price of $81.65 and a 200 day moving average price of $78.30.

GRAIL (NASDAQ:GRAL) last released its earnings results on Thursday, February 19th. The company reported ($2.44) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($3.33) by $0.89. The company had revenue of $43.60 million for the quarter, compared to the consensus estimate of $43.33 million. GRAIL had a negative net margin of 277.46% and a negative return on equity of 17.11%. Sell-side analysts predict that GRAIL will post -15.15 earnings per share for the current fiscal year.

Insider Transactions at GRAIL

In related news, CEO Robert P. Ragusa sold 37,504 shares of the firm’s stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $50.17, for a total transaction of $1,881,575.68. Following the sale, the chief executive officer owned 650,525 shares of the company’s stock, valued at approximately $32,636,839.25. This trade represents a 5.45% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Aaron Freidin sold 9,573 shares of GRAIL stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $50.17, for a total value of $480,277.41. Following the transaction, the chief financial officer owned 309,622 shares in the company, valued at approximately $15,533,735.74. This represents a 3.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 79,294 shares of company stock valued at $3,955,224 over the last three months. 1.85% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On GRAIL

Large investors have recently modified their holdings of the business. Royal Bank of Canada lifted its holdings in shares of GRAIL by 17.7% during the 1st quarter. Royal Bank of Canada now owns 88,082 shares of the company’s stock valued at $2,250,000 after purchasing an additional 13,264 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of GRAIL by 28.2% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,835 shares of the company’s stock valued at $76,000 after purchasing an additional 623 shares during the period. NewEdge Advisors LLC increased its stake in GRAIL by 390.3% during the 1st quarter. NewEdge Advisors LLC now owns 1,760 shares of the company’s stock worth $45,000 after purchasing an additional 1,401 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in GRAIL by 37.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 92,465 shares of the company’s stock worth $2,362,000 after purchasing an additional 25,177 shares in the last quarter. Finally, ProShare Advisors LLC acquired a new stake in GRAIL during the 2nd quarter worth approximately $391,000.

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.