GRAIL (NASDAQ:GRAL) Reaches New 12-Month High – What’s Next?

GRAIL, Inc. (NASDAQ:GRAL)’s share price reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $118.78 and last traded at $116.5050, with a volume of 532869 shares trading hands. The stock had previously closed at $101.07.

Analyst Upgrades and Downgrades

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

GRAIL Price Performance

The business has a 50 day moving average price of $95.41 and a 200 day moving average price of $66.76. The firm has a market capitalization of $4.45 billion, a P/E ratio of -9.77 and a beta of 4.52.

GRAIL (NASDAQ:GRAL) last issued its quarterly earnings results on Wednesday, November 12th. The company reported ($2.46) EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $36.19 million during the quarter, compared to analyst estimates of $33.83 million. As a group, equities analysts expect that GRAIL, Inc. will post -15.15 EPS for the current year.

Hedge Funds Weigh In On GRAIL

Several institutional investors and hedge funds have recently added to or reduced their stakes in GRAL. Royal Bank of Canada grew 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 worth $2,250,000 after purchasing an additional 13,264 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in GRAIL by 28.2% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,835 shares of the company’s stock worth $76,000 after buying an additional 623 shares in the last quarter. NewEdge Advisors LLC increased its holdings in GRAIL by 390.3% in the 1st quarter. NewEdge Advisors LLC now owns 1,760 shares of the company’s stock valued at $45,000 after buying an additional 1,401 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of GRAIL by 37.4% in 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 valued at $2,362,000 after buying an additional 25,177 shares in the last quarter. Finally, Parallel Advisors LLC boosted its position in shares of GRAIL by 24.1% during the 2nd quarter. Parallel Advisors LLC now owns 2,313 shares of the company’s stock valued at $119,000 after acquiring an additional 449 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.