Commerce Bank Purchases New Position in GRAIL, Inc. $GRAL

Commerce Bank purchased a new stake in GRAIL, Inc. (NASDAQ:GRAL) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 26,981 shares of the company’s stock, valued at approximately $1,842,000.

Several other large investors also recently bought and sold shares of the stock. Fifth Third Bancorp increased its position in shares of GRAIL by 15,733.3% during the first quarter. Fifth Third Bancorp now owns 475 shares of the company’s stock worth $25,000 after purchasing an additional 472 shares in the last quarter. Comerica Bank boosted its position in shares of GRAIL by 59.2% in the 3rd quarter. Comerica Bank now owns 465 shares of the company’s stock valued at $27,000 after purchasing an additional 173 shares during the period. Caitong International Asset Management Co. Ltd acquired a new stake in shares of GRAIL in the 4th quarter valued at about $28,000. Geneos Wealth Management Inc. grew its stake in GRAIL by 160.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 585 shares of the company’s stock worth $30,000 after buying an additional 360 shares during the last quarter. Finally, Elyxium Wealth LLC purchased a new position in GRAIL during the 4th quarter worth approximately $31,000.

Analyst Ratings Changes

GRAL has been the subject of a number of research reports. Robert W. Baird set a $70.00 price objective on GRAIL in a research note on Wednesday, May 6th. TD Cowen restated a “buy” rating on shares of GRAIL in a research report on Wednesday, July 15th. Weiss Ratings restated a “sell (d-)” rating on shares of GRAIL in a research report on Friday, July 17th. Wall Street Zen raised shares of GRAIL from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Finally, Mizuho upped their price target on shares of GRAIL from $58.00 to $65.00 and gave the company a “neutral” rating in a research report on Wednesday, July 15th. Four investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $67.78.

GRAIL Stock Up 7.8%

NASDAQ GRAL opened at $82.54 on Wednesday. GRAIL, Inc. has a 52-week low of $30.82 and a 52-week high of $118.84. The business’s 50-day moving average price is $69.83 and its 200 day moving average price is $63.76. The firm has a market cap of $3.69 billion, a P/E ratio of -8.47 and a beta of 3.24.

GRAIL (NASDAQ:GRAL) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($2.56) EPS for the quarter, beating the consensus estimate of ($2.66) by $0.10. GRAIL had a negative return on equity of 15.88% and a negative net margin of 236.95%.The firm had revenue of $44.69 million during the quarter, compared to the consensus estimate of $42.39 million. As a group, analysts anticipate that GRAIL, Inc. will post -10.41 earnings per share for the current year.

Insider Activity

In other news, insider Andrew John Partridge sold 1,491 shares of the company’s stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $61.08, for a total transaction of $91,070.28. Following the completion of the sale, the insider owned 163,738 shares in the company, valued at $10,001,117.04. This represents a 0.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 1.83% of the company’s stock.

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.