GRAIL (NASDAQ:GRAL) Trading Down 6.3% – Should You Sell?

Shares of GRAIL, Inc. (NASDAQ:GRAL) traded down 6.3% during trading on Wednesday . The stock traded as low as $70.68 and last traded at $70.76. 238,295 shares were traded during trading, a decline of 75% from the average session volume of 936,345 shares. The stock had previously closed at $75.48.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on GRAL. Mizuho boosted their price objective on shares of GRAIL from $58.00 to $65.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 15th. The Goldman Sachs Group initiated coverage on shares of GRAIL in a research note on Friday, June 5th. They issued a “neutral” rating and a $60.00 target price on the stock. Piper Sandler lifted their target price on shares of GRAIL from $54.00 to $56.00 and gave the stock a “neutral” rating in a report on Wednesday, May 6th. TD Cowen reissued a “buy” rating on shares of GRAIL in a research report on Wednesday, July 15th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of GRAIL in a report on Friday, July 17th. Four equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, GRAIL presently has an average rating of “Hold” and a consensus price target of $67.78.

GRAIL Stock Performance

The company has a market capitalization of $3.02 billion, a P/E ratio of -6.94 and a beta of 3.24. The company has a 50-day simple moving average of $67.42 and a 200 day simple moving average of $65.33.

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

Insider Buying and Selling

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Parallel Advisors LLC lifted its stake in shares of GRAIL by 5.2% in the fourth quarter. Parallel Advisors LLC now owns 2,667 shares of the company’s stock valued at $228,000 after buying an additional 133 shares during the period. Comerica Bank increased its stake in GRAIL by 59.2% during the third quarter. Comerica Bank now owns 465 shares of the company’s stock valued at $27,000 after acquiring an additional 173 shares during the period. Whittier Trust Co. raised its holdings in GRAIL by 19.3% in the 4th quarter. Whittier Trust Co. now owns 1,114 shares of the company’s stock valued at $95,000 after acquiring an additional 180 shares in the last quarter. Prosperity Consulting Group LLC raised its holdings in GRAIL by 6.9% in the 1st quarter. Prosperity Consulting Group LLC now owns 3,881 shares of the company’s stock valued at $201,000 after acquiring an additional 250 shares in the last quarter. Finally, Rossby Financial LCC lifted its position in shares of GRAIL by 25.0% in the 4th quarter. Rossby Financial LCC now owns 1,250 shares of the company’s stock worth $107,000 after acquiring an additional 250 shares during the period.

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.