GRAIL (NASDAQ:GRAL) Trading Down 5.7% – Time to Sell?

GRAIL, Inc. (NASDAQ:GRAL)’s stock price dropped 5.7% during trading on Thursday . The stock traded as low as $98.41 and last traded at $98.73. Approximately 295,338 shares traded hands during mid-day trading, a decline of 55% from the average daily volume of 653,041 shares. The stock had previously closed at $104.75.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. UBS Group set a $75.00 price objective on GRAIL in a report on Friday, October 3rd. Guggenheim raised GRAIL from a “neutral” rating to a “buy” rating and set a $100.00 target price on the stock in a research note on Wednesday, November 12th. Morgan Stanley lifted their price target on shares of GRAIL from $85.00 to $110.00 and gave the company an “equal weight” rating in a report on Monday, December 1st. Weiss Ratings restated a “sell (d-)” rating on shares of GRAIL in a research note on Wednesday, October 8th. Finally, Canaccord Genuity Group upped their price target on GRAIL from $85.00 to $105.00 and gave the stock a “buy” rating in a research note on Monday, November 17th. Two 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 company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $97.50.

GRAIL Stock Down 6.9%

The company has a market capitalization of $3.80 billion, a PE ratio of -8.40 and a beta of 4.52. The company’s 50 day moving average is $93.80 and its two-hundred day moving average is $65.00.

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

Institutional Trading of GRAIL

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC lifted its position in shares of GRAIL by 21.4% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 34,195 shares of the company’s stock valued at $1,758,000 after buying an additional 6,032 shares in the last quarter. Caxton Associates LLP acquired a new stake in GRAIL in the 2nd quarter valued at about $3,320,000. NWF Advisory Services Inc. purchased a new position in GRAIL in the 2nd quarter worth approximately $1,062,000. Legal Advantage Investments Inc. acquired a new stake in shares of GRAIL in the third quarter valued at approximately $1,242,000. Finally, Rockefeller Capital Management L.P. increased its stake in shares of GRAIL by 8.0% in the 2nd quarter. Rockefeller Capital Management L.P. now owns 94,043 shares of the company’s stock worth $4,836,000 after acquiring an additional 6,988 shares during the last quarter.

GRAIL Company Profile

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.