GRAIL (NASDAQ:GRAL) Shares Gap Down

GRAIL, Inc. (NASDAQ:GRAL) shares gapped down, opening at $78.62 from a previous close of $84.94, last trading at $76.19. Analysts have mixed ratings: Guggenheim upgraded to 'buy' with a $100 target, UBS set a $75 objective, Weiss Ratings issued a 'sell' rating, and Canaccord Genuity raised its target to $105. Insiders sold shares, and institutional investors adjusted holdings. GRAIL targets early cancer detection with a market cap of $3.11 billion.

GRAIL, Inc. (NASDAQ:GRAL - Get Free Report) gapped down before the market opened on Tuesday . The stock had previously closed at $84.94, but opened at $78.62. GRAIL shares last traded at $76.19, with a volume of 282,585 shares traded.

Analyst Upgrades and Downgrades

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A number of equities analysts have recently issued reports on GRAL shares. Guggenheim raised GRAIL from a "neutral" rating to a "buy" rating and set a $100.00 target price for the company in a research note on Wednesday, November 12th. UBS Group set a $75.00 price objective on GRAIL in a report on Friday, October 3rd. Weiss Ratings reissued a "sell (d-)" rating on shares of GRAIL in a report on Wednesday, October 8th. Finally, Canaccord Genuity Group boosted their target price on shares of GRAIL from $85.00 to $105.00 and gave the stock a "buy" rating in a research report on Monday. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, GRAIL presently has a consensus rating of "Hold" and an average target price of $75.00.

View Our Latest Report on GRAL

GRAIL Stock Performance

GRAIL: Biotech Stock Targeting $100B Cancer Market

The firm has a market cap of $3.11 billion, a price-to-earnings ratio of -6.85 and a beta of 4.29. The business has a fifty day moving average of $67.81 and a two-hundred day moving average of $48.75.

GRAIL (NASDAQ:GRAL - Get Free Report) last posted its 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. The company had revenue of $36.19 million for the quarter, compared to the consensus estimate of $33.83 million. GRAIL had a negative return on equity of 15.69% and a negative net margin of 286.43%. On average, equities research analysts forecast that GRAIL, Inc. will post -15.15 earnings per share for the current year.

Insider Activity

Strategic Buy Lights Up This Biotech Stock: Time to Invest?

In related news, President Joshua J. Ofman sold 6,114 shares of the stock in a transaction dated Thursday, October 16th. The shares were sold at an average price of $82.01, for a total value of $501,409.14. Following the sale, the president directly owned 381,818 shares of the company's stock, valued at approximately $31,312,894.18. This represents a 1.58% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Robert P. Ragusa sold 7,239 shares of the firm's stock in a transaction dated Wednesday, October 15th. The shares were sold at an average price of $68.88, for a total transaction of $498,622.32. Following the transaction, the chief executive officer owned 727,388 shares of the company's stock, valued at $50,102,485.44. This trade represents a 0.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 113,295 shares of company stock worth $7,380,888 over the last quarter.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Comerica Bank lifted its stake in GRAIL by 59.2% in the 3rd quarter. Comerica Bank now owns 465 shares of the company's stock valued at $27,000 after buying an additional 173 shares in the last quarter. Farther Finance Advisors LLC lifted its position in shares of GRAIL by 768.1% in the second quarter. Farther Finance Advisors LLC now owns 816 shares of the company's stock valued at $42,000 after acquiring an additional 722 shares in the last quarter. NewEdge Advisors LLC lifted its position in shares of GRAIL by 390.3% in the first quarter. NewEdge Advisors LLC now owns 1,760 shares of the company's stock valued at $45,000 after acquiring an additional 1,401 shares in the last quarter. Signaturefd LLC boosted its stake in shares of GRAIL by 273.0% during the first quarter. Signaturefd LLC now owns 1,876 shares of the company's stock valued at $48,000 after acquiring an additional 1,373 shares during the last quarter. Finally, Quarry LP boosted its stake in shares of GRAIL by 1,965.4% during the first quarter. Quarry LP now owns 2,148 shares of the company's stock valued at $55,000 after acquiring an additional 2,044 shares during the last quarter.

GRAIL Company Profile

(Get Free Report)

GRAIL, Inc operates as a commercial-stage healthcare company, which engages in the development of a technology for early detection of cancer. It utilizes machine learning, software, and automation to detect and identify multiple deadly cancer types in earlier stages. The company was founded by Jeffrey T.

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GRAIL (NASDAQ:GRAL) Shares Gap Down - Here's What Happened