GRAIL (NASDAQ:GRAL) Price Target Cut to $75.00 by Analysts at Guggenheim

GRAIL (NASDAQ:GRAL) had its target price decreased by Guggenheim from $130.00 to $75.00 in a research report sent to investors on Monday,Benzinga reports. Guggenheim currently has a buy rating on the stock.

Several other research firms also recently issued reports on GRAL. Robert W. Baird set a $82.00 price objective on GRAIL in a report on Friday, February 20th. Weiss Ratings reissued a “sell (d-)” rating on shares of GRAIL in a research report on Thursday, January 22nd. TD Cowen upgraded shares of GRAIL from a “hold” rating to a “buy” rating and set a $65.00 price target on the stock in a report on Wednesday, March 18th. Canaccord Genuity Group reduced their price target on shares of GRAIL from $105.00 to $80.00 and set a “buy” rating for the company in a research report on Friday, February 20th. Finally, Morgan Stanley lowered their price objective on shares of GRAIL from $110.00 to $60.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 24th. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $72.83.

GRAIL Stock Performance

NASDAQ GRAL opened at $46.90 on Monday. GRAIL has a 1 year low of $20.44 and a 1 year high of $118.84. The business’s fifty day moving average is $73.47 and its two-hundred day moving average is $79.39. The stock has a market capitalization of $1.92 billion, a P/E ratio of -4.19 and a beta of 5.21.

GRAIL (NASDAQ:GRAL) last released its quarterly earnings data on Thursday, February 19th. The company reported ($2.44) earnings per share for the quarter, topping the consensus estimate of ($3.33) by $0.89. The business had revenue of $43.60 million during the quarter, compared to analyst estimates of $43.33 million. GRAIL had a negative return on equity of 17.11% and a negative net margin of 277.46%. On average, research analysts forecast that GRAIL will post -15.15 earnings per share for the current year.

Insider Activity at GRAIL

In related news, CFO Aaron Freidin sold 9,573 shares of the business’s stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $50.17, for a total transaction of $480,277.41. Following the transaction, the chief financial officer directly owned 309,622 shares of the company’s stock, valued at approximately $15,533,735.74. The trade was a 3.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Robert P. Ragusa sold 37,504 shares of the stock in a transaction that occurred 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 completion of the sale, the chief executive officer owned 650,525 shares of the company’s stock, valued at approximately $32,636,839.25. The trade was a 5.45% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 79,294 shares of company stock valued at $3,955,224.

Institutional Trading of GRAIL

Hedge funds and other institutional investors have recently modified their holdings of the company. N.E.W. Advisory Services LLC purchased a new position in GRAIL in the fourth quarter valued at about $26,000. Comerica Bank lifted its holdings in shares of GRAIL by 59.2% during the 3rd quarter. Comerica Bank now owns 465 shares of the company’s stock valued at $27,000 after buying an additional 173 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in shares of GRAIL during the 4th quarter valued at about $28,000. Elyxium Wealth LLC bought a new stake in shares of GRAIL in the 4th quarter valued at approximately $31,000. Finally, Intesa Sanpaolo S.p.A. bought a new stake in shares of GRAIL in the 4th quarter valued at approximately $44,000.

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.