your badges 52W Range $42–$151 93% of range Analyst Rating HOLD 15 analysts Price Target $97 P/E -14.8 ROE -16.1% Net Profit Margin -236.9%

GRAL Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range

03
Price $143.26
Market Cap (MRQ) $6.40B
P/E (TTM) -14.8
EPS (TTM) $-9.68
Revenue (TTM) $165M
ROE (TTM) -16.1%
52W Range $42–$151

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About GRAIL, Inc. - Common Stock Company overview from Wikipedia

05 · wikidata

GRAIL, Inc. is an American biotechnology company based in Menlo Park, California founded in 2015 seeking to develop an early cancer screening test for people who do not have symptoms. As a startup it was a subsidiary of Illumina, which bought it outright in 2021.

In June 2021, GRAIL launched their liquid biopsy, or multi-cancer early detection test, which they called Galleri test. In 2023, EU regulators ordered Grail to be spun-out from Illumina which was completed on June 24, 2024.

Activities

Illumina's own research showed that repeatedly sequencing DNA in the bloodstream made it possible to detect floating bits of DNA from cancer cells more accurately. It initially aimed to recruit greater than 100,000 people into its clinical trials in order to accumulate the sizeable data required to detect and interpret cancer biomarkers.

Galleri test

As of November 2020, Galleri investigated three multi-cancer screening tests.

In June 2021 Galleri launched their liquid biopsy or multi-cancer early detection test (MCED), which Grail called the Galleri test. Grail promoted the test as a "groundbreaking and potentially life-saving advance", although the results of early trials were poor. A subsequent large-scale NHS England trial was described as overhyped and unethical. As of 2024, Grail was facing discontent and legal action from investors.

In June 2025, an article in the New Yorker discussed an interview of their medicine and science writer regarding the test and its recent history with a focus on its potential for adaptation as research continues in its product development through clinical investigations.

On 17 October 2025, BBC news carried positive coverage of test results just presented at the European Society for Medical Oncology. However, as of October 20, 2025 the results of the PATHFINDER 2 study have yet to be peer reviewed or published. Eric Topol reported a sensitivity of only 40% these false negatives failed to discover cancer that emerged during the 12-month follow-up.

Company history

Grail began as a San Francisco biotechnology and pharmaceutical startup company in 2015, the parent company being Illumina of San Diego, which produces most of the DNA sequencing machines that scientists use to study human biology and diagnose rare genetic diseases. Richard Klausner, then chief medical officer at Illumina and former director of the National Cancer Institute, advocated for the new business. According to the San Francisco Business Times, he correctly predicted how DNA sequencing technology would make it possible to detect evidence of a tumor from a blood sample. He also joined Grail's board of directors. According to Forbes in 2017, 20% of Grail's profits are kept by Illumina.

In September 2020, Illumina announced an agreement to purchase Grail outright for $7.1 billion.

On November 27, 2020, Grail announced a commercial partnership with the National Health Service (England) (NHS), to trial the Galleri test, reporting in 2026.

In March 2021, the Federal Trade Commission (FTC) sued to block the vertical merger. In September 2022, an administrative judge ruled against the FTC's position on antitrust grounds.

In June 2023, Grail disclosed that letters were mailed to 408 patients incorrectly informing them that they may have cancer. The company blamed the incident on PWNHealth, saying that it was due to a software configuration issue, not due to incorrect Galleri test results.

In October 2023, the European Commission ordered Grail to be divested from Illumina within the next twelve months. The European Commission (EC) has since approved Illumina's divestment plan for separating from Grail. Illumina has set a goal of finalizing the divestment terms by the end of the second quarter of 2024. In April 2024, the EC approved Illumina's plan, allowing Illumina to explore either a trade sale or a capital markets transaction (spin-off) to divest Grail. In May 2024, Illumina publicly filed a Form 10 registration statement with the U.S. SEC, a necessary step for a potential capital markets separation of Grail. If a capital markets transaction occurs, Illumina must capitalize Grail with around $1 billion to fund 2.5 years of operations per the EC's divestment plan. The spinoff was completed in June 2024, with Grail trading on the Nasdaq with ticker symbol GRAL and Illumina retaining a 14.5% share of Grail.

Source: Wikipedia, CC BY-SA 4.0 · View on Wikipedia ↗

Wikidata ↗

sectorHealthcare industryBiotechnology employees910 countryUS

10-Year Performance Revenue, net income, margins and EPS trends

06
Revenue$147M
2023-01-01 → 2025-12-31
EPS$-11.11
2023-01-01 → 2025-12-31
Free Cash Flow$-300M
2024-12-31 → 2025-12-31
Net margin-236.9%
2024-12-31 → 2025-12-31
Valuation & Ratios 07–12

Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?

Metric 5Y trend GRAL 5Y avg Peer Median Verdict
P/E (TTM) -14.8 · · ·
P/S (TTM) 38.7 · 31.8 Undervalued
P/B (MRQ) 2.5 · 10.8 Undervalued
Price / FCF (TTM) -21.6 · · ·
Price / Cash Flow (TTM) -21.7 · · ·
Price / Tangible Book (MRQ) 8.4 · · ·

Peer median is calculated on a standardized basis per metric and may not always match the TTM/MRQ basis shown for this stock.

value · ≈ 5Y avg · industry median · verdict relative to median

Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date

14
Avg Surprise 17.6%
Next Report Nov 10, 2026
PeriodReportEPS ActualEPS EstSurprise
June 30, 2026 Aug 18, 2026 $-2.56 $-2.71 5.4%
March 31, 2026 May 19, 2026 $-2.29 $-2.82 18.7%
Dec. 31, 2025 $-2.44 $-2.76 11.6%
Sept. 30, 2025 $-2.46 $-3.59 31.4%
June 30, 2025 $-3.18 $-3.64 12.6%
March 31, 2025 $-3.10 $-4.17 25.7%

Full Fundamentals All metrics by year — income statement, balance sheet, cash flow

15
Income Statement 15
Metric Trend 202520242023
Revenue $147M$126M$93M
R&D Expense $196M$322M$339M
SG&A Expense $159M$214M$200M
Operating Expenses $709M$2.31B$1.61B
Operating Income $-562M$-2.19B$-1.52B
Interest Income $29M$27M$8M
Other Non-op $-993.0K$64.0K$-208.0K
Pretax Income $-535M$-2.16B$-1.51B
Income Tax $-126M$-135M$-42M
Net Income $-408M$-2.03B$-1.47B
EPS (Basic) $-11.11$-63.54$-47.21
EPS (Diluted) $-11.11$-63.54$-47.21
Shares (Basic) 36,753,75131,901,25931,049,148
Shares (Diluted) 36,753,75131,901,25931,049,148
EBITDA $-562M$-2.19B·
Balance Sheet 25
Metric Trend 202520242023
Cash & Equivalents $250M$214M$97M
Receivables $18M$20M$17M
Prepaid Expense $15M$17M$20M
Current Assets $954M$820M$156M
PP&E (Net) $52M$69M$85M
PP&E (Gross) $122M$123M$121M
Accum. Depreciation $70M$54M$36M
Goodwill ·$0$889M
Intangibles $1.85B$2.02B$2.69B
Other Non-current Assets $7M$8M$8M
Total Assets $2.92B$2.98B$3.91B
Accounts Payable $2M$5M$20M
Accrued Liabilities $64M$57M$74M
Current Liabilities $80M$77M$164M
Capital Leases $43M$55M$70M
Deferred Tax $219M$346M$33M
Other Non-current Liabilities $3M$2M$1M
Total Liabilities $344M$480M$268M
Common Stock $40.0K$34.0K·
Paid-in Capital $12.79B$12.31B·
Retained Earnings $-10.21B$-9.80B$-7.78B
AOCI $3M$1M$1M
Stockholders' Equity $2.58B$2.50B·
Liabilities + Equity $2.92B$2.98B$3.91B
Shares Outstanding 40,331,36033,893,409,0000
Cash Flow 10
Metric Trend 202520242023
Stock-based Comp $58M$86M$97M
Deferred Tax $-126M$-134M$-38M
Amort. of Intangibles $134M$134M$134M
Operating Cash Flow $-299M$-577M$-596M
CapEx $909.0K$5M$13M
Investing Cash Flow $-85M$-551M$-13M
Financing Cash Flow $423M$1.24B$464M
Net Change in Cash $39M$116M$-145M
Taxes Paid $1M··
Free Cash Flow $-300M$-582M·
Profitability 7
Metric Trend 202520242023
Operating Margin -382.0%-1743.0%·
Net Margin -277.5%-1613.9%·
Pretax Margin -363.2%-1721.7%·
EBITDA Margin -382.0%-1743.0%·
ROA -13.8%-58.8%·
ROE -16.7%-79.6%·
ROIC -16.7%-82.0%·
Liquidity & Solvency 2
Metric Trend 202520242023
Current Ratio 12.010.7·
Quick Ratio 3.43.0·
Efficiency 2
Metric Trend 202520242023
Asset Turnover 0.00.0·
Receivables Turnover 7.66.7·
Per Share 5
Metric Trend 202520242023
Book Value / Share $63.92$73.86·
Revenue / Share $4.00$3.94·
Cash Flow / Share $-8.14$-18.09·
Cash / Share $6.19$6.32·
EPS (TTM) $-11.11$-63.54·
Growth Rates 2
Metric Trend 202520242023
Revenue YoY 17.2%34.9%67.6%
Revenue CAGR 3Y 38.4%··
Valuation (TTM) 10
Metric Trend 202520242023
Revenue TTM $147M$126M·
Net Income TTM $-408M$-2.03B·
Market Cap $3.45B$605M·
P/E -7.7-0.3·
P/S 23.54.8·
P/B 1.30.2·
P / Tangible Book 4.71.2·
P / Cash Flow -11.5-1.0·
P / FCF -11.5-1.0·
Earnings Yield -13.0%-356.0%·

Most recent period on the left · null values shown as ·

Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years

16
Metric 2025-12-312024-12-312023-12-312023-01-01
Revenue $147M $126M $93M $56M
Operating Margin % -382.0% -1743.0% · ·
Net Income $-408M $-2.03B $-1.47B $-5.40B
Diluted EPS $-11.11 $-63.54 $-47.21 $-173.89

Institutional owners (13F) 408 filers · $2.9B total · As of June 30, 2026

17

Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.

Holders 408
Value held $2.9B
New positions 60
Exited positions 46
Institutional activity — Q2 2026 vs prior quarter
New positions Exited positions Increased Decreased Net shares change
60 (+2 vs prior Q) 46 (-48 vs prior Q) 118 (+18 vs prior Q) 108 (-11 vs prior Q) +5.9M

Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.

Institution Value Shares % of tracked 13F Type
FARALLON CAPITAL MANAGEMENT, L.L.C. $284,111,340 4,161,584 9.86% Shares
BAKER BROS. ADVISORS LP $275,033,478 4,028,614 9.55% Shares
BlackRock, Inc. $244,206,968 3,577,075 8.48% Shares
VANGUARD GROUP INC $169,535,217 1,980,783 5.89% Shares
STATE STREET CORP $162,859,041 2,385,514 5.65% Shares
PRIMECAP MANAGEMENT CO/CA/ $148,835,838 2,180,106 5.17% Shares
Sessa Capital IM, L.P. $139,101,354 2,037,518 4.83% Shares
Deep Track Capital, LP $125,271,627 1,834,944 4.35% Shares
VANGUARD CAPITAL MANAGEMENT LLC $112,039,058 1,641,117 3.89% Shares
MORGAN STANLEY $99,821,986 1,462,163 3.47% Shares
Arbiter Partners Capital Management LLC $70,611,456 1,034,297 2.45% Shares
GEODE CAPITAL MANAGEMENT, LLC $67,690,664 991,380 2.35% Shares
GOLDMAN SACHS GROUP INC $51,066,984 748,015 1.77% Shares
Jefferies Financial Group Inc. $49,427,480 724,000 1.72% Shares
BANK OF AMERICA CORP /DE/ $49,389,043 723,437 1.71% Shares
DIMENSIONAL FUND ADVISORS LP $46,395,822 679,587 1.61% Shares
Jefferies Financial Group Inc. $44,375,500 650,000 1.54% Put option
Casdin Capital, LLC $32,769,600 480,000 1.14% Shares
VANGUARD PORTFOLIO MANAGEMENT LLC $32,631,831 477,982 1.13% Shares
NORTHERN TRUST CORP $25,436,582 372,588 0.88% Shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP $25,396,440 372,000 0.88% Call option
CITIGROUP INC $25,345,470 371,253 0.88% Shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP $24,563,546 359,800 0.85% Put option
KINGDON CAPITAL MANAGEMENT, L.L.C. $23,211,800 340,000 0.81% Shares
Granahan Investment Management, LLC $21,926,686 321,176 0.76% Shares
CHARLES SCHWAB INVESTMENT MANAGEMENT INC $20,523,874 300,628 0.71% Shares
RAYMOND JAMES FINANCIAL INC $19,991,413 292,829 0.69% Shares
UBS Group AG $17,053,573 249,796 0.59% Shares
Aberdeen Group plc $15,668,170 229,503 0.54% Shares
VANGUARD FIDUCIARY TRUST CO $15,357,337 224,950 0.53% Shares
Slow Capital, Inc. $14,832,477 217,262 0.51% Shares
CITADEL ADVISORS LLC $14,616,607 214,100 0.51% Call option
AQR CAPITAL MANAGEMENT LLC $14,159,852 211,341 0.49% Shares
WELLS FARGO & COMPANY/MN $13,259,897 194,227 0.46% Shares
TCW GROUP INC $13,101,901 191,913 0.45% Shares
Douglas Lane & Associates, LLC $11,082,952 162,340 0.38% Shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP $10,601,990 155,295 0.37% Shares
Bank of New York Mellon Corp $10,522,219 154,127 0.37% Shares
FRANKLIN RESOURCES INC $10,369,326 151,887 0.36% Shares
Newtyn Management, LLC $10,240,500 150,000 0.36% Shares
180 WEALTH ADVISORS, LLC $8,723,113 127,774 0.30% Shares
FMR LLC $8,651,636 126,726 0.30% Shares
Voleon Capital Management LP $8,264,903 121,062 0.29% Shares
JPMORGAN CHASE & CO $7,972,838 114,806 0.28% Shares
D. E. Shaw & Co., Inc. $7,926,284 116,102 0.28% Shares
Invesco Ltd. $7,740,043 113,374 0.27% Shares
WIM INVESTMENT MANAGEMENT Ltd $7,263,928 106,400 0.25% Shares
Alyeska Investment Group, L.P. $7,168,350 105,000 0.25% Shares
Legal & General Group Plc $6,870,557 100,638 0.24% Shares
AMERICAN CENTURY COMPANIES INC $6,774,228 99,227 0.24% Shares

Show all 408 institutional owners →

Company insiders 10 insiders · 4 officers · 6 directors

19
Insider Role Last activity Shares owned Buys 12m Sells 12m Net 12m
Joshua J. Ofman Chief Executive Officer Sept. 21, 2026 M 362,271 0 20 $-18,722,113
Robert P Ragusa Chief Executive Officer April 8, 2026 S 518,582 0 11 $-12,764,229
Aaron Freidin Chief Financial Officer Sept. 21, 2026 S 248,983 0 12 $-6,588,399
Andrew John Partridge Chief Growth Officer June 4, 2026 S 163,738 0 1 $-91,070
William J Chase Director July 15, 2026 A 42,978 0 0 $0
Steven Mizell Director July 15, 2026 A 42,830 0 0 $0
Gregory L Summe Director July 15, 2026 A 45,672 0 0 $0
Sarah Krevans Director June 18, 2026 A 42,628 0 0 $0
ILLUMINA, INC. 10% owner Nov. 17, 2025 S 3,502,126 0 1 $-79,850,000
Chun R Ding 10% owner July 1, 2025 S 3,305,055 0 0 $0

Insiders from SEC Form 3/4/5 filings; net = open-market P/S only

ETF ownership Held by 41 ETFs

20

Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.

Fund Weight Units As of Source
CBSE · Elevation Series Trust 2.59% 19,576 NS July 31, 2026 N-PORT
HTEC · EXCHANGE TRADED CONCEPTS TRUST 1.72% 17,377 NS July 31, 2026 N-PORT
LABU · Direxion Shares ETF Trust 0.67% 48,308 NS July 31, 2026 N-PORT
IBBQ · Invesco Exchange-Traded Fund Trust … 0.41% 3,150 SH Oct. 1, 2026 Daily
PRFZ · Invesco Exchange-Traded Fund Trust 0.35% 67,461 SH Oct. 1, 2026 Daily
IBB · iShares Trust 0.23% 302,532 SH Sept. 11, 2026 Daily
PWS · Pacer Funds Trust 0.19% 660 NS July 31, 2026 N-PORT
ESSC · Strategy Shares 0.18% 952 NS July 31, 2026 N-PORT
VTWV · VANGUARD SCOTTSDALE FUNDS 0.18% 36,116 SH Aug. 19, 2026 Daily
FYC · First Trust Exchange-Traded AlphaDE… 0.13% 25,221 NS July 31, 2026 N-PORT
OMFS · Invesco Exchange-Traded Self-Indexe… 0.13% 2,444 SH Oct. 1, 2026 Daily
IWM · iShares Trust 0.11% 1,058,897 SH Sept. 11, 2026 Daily
BBSC · J.P. Morgan Exchange-Traded Fund Tr… 0.10% 10,365 NS July 31, 2026 N-PORT
RSSL · Global X Funds 0.09% 19,779 NS July 31, 2026 N-PORT
VTWO · VANGUARD SCOTTSDALE FUNDS 0.09% 237,749 SH Aug. 19, 2026 Daily
FYX · First Trust Exchange-Traded AlphaDE… 0.06% 12,777 NS July 31, 2026 N-PORT
DFAS · Dimensional ETF Trust 0.06% 138,238 NS July 31, 2026 N-PORT
ESML · iShares Trust 0.06% 20,960 SH Sept. 11, 2026 Daily
ISCG · iShares Trust 0.05% 6,449 SH Sept. 11, 2026 Daily
DXUV · Dimensional ETF Trust 0.05% 3,825 NS July 31, 2026 N-PORT
VHT · VANGUARD WORLD FUND 0.04% 114,187 SH Aug. 19, 2026 Daily
FHLC · FIDELITY COVINGTON TRUST 0.04% 18,033 NS July 31, 2026 N-PORT
VXF · VANGUARD INDEX FUNDS 0.03% 374,291 SH Aug. 19, 2026 Daily
WSML · iShares Trust 0.03% 2,523 SH Sept. 11, 2026 Daily
FAD · First Trust Exchange-Traded AlphaDE… 0.03% 2,284 NS July 31, 2026 N-PORT
DCOR · Dimensional ETF Trust 0.01% 6,563 NS July 31, 2026 N-PORT
DFAC · Dimensional ETF Trust 0.01% 89,559 NS July 31, 2026 N-PORT
DFAU · Dimensional ETF Trust 0.01% 10,405 NS July 31, 2026 N-PORT
IWV · iShares Trust 0.00% 11,834 SH Sept. 11, 2026 Daily
IETC · iShares U.S. ETF Trust 0.00% 366 SH Sept. 9, 2026 Daily
DFUS · Dimensional ETF Trust 0.00% 12,291 NS July 31, 2026 N-PORT
ITOT · iShares Trust 0.00% 45,813 SH Sept. 11, 2026 Daily
ACVF · ETF Opportunities Trust 0.00% 82 NS July 31, 2026 N-PORT
DFUV · Dimensional ETF Trust 0.00% 3,550 NS July 31, 2026 N-PORT
DFLV · Dimensional ETF Trust 0.00% 321 NS July 31, 2026 N-PORT
VTI · VANGUARD INDEX FUNDS 0.00% 1,228,926 SH Aug. 19, 2026 Daily
VTHR · VANGUARD SCOTTSDALE FUNDS 0.00% 3,407 SH Aug. 19, 2026 Daily
IWN · iShares Trust · 387,322 SH Sept. 11, 2026 Daily
ISCB · iShares Trust · 1,731 SH Sept. 11, 2026 Daily
ISCV · iShares Trust · 4,026 SH Sept. 11, 2026 Daily
SMLF · iShares Trust · 20,955 SH Sept. 11, 2026 Daily

GRAL Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside

21
rating · 15 analysts BUY
Median target $94.00 -34.4%
4 26.7% Strong Buy
5 33.3% Buy
6 40.0% Hold
0 0.0% Sell
0 0.0% Strong Sell

12-Month Price Target

10 analysts · 2026-09-30

Mean target $97.40 -32.0%

Now Current price $143.26
Low$60.00 Mean$97.40 High$150.00

Peer comparison (GICS sub-industry) Key metrics vs sector peers

22

FY basis, prices as of each company's last fiscal year-end close.

Ticker Market Cap P/E Rev YoY Net Margin ROE Gross Margin
GRAL $3.45B -7.7 17.2% -277.5% -16.7% ·
IMVT $5.07B -9.0 229.2% · -73.7% ·
RYTM $7.19B -34.4 45.8% -103.6% -309.1% ·
IOVA $1.12B -2.5 60.6% -148.4% -56.0% ·
CGON $3.35B -20.0 254.7% -3985.0% -22.6% ·
SRRK $4.78B -13.4 · · -157.9% ·
KOD $1.73B -6.5 · · -202.0% ·
ORKA $1.48B -3.3 · · -25.9% ·
COGT $5.72B -16.4 · · -83.1% ·
TVTX $3.47B -131.8 110.5% -5.2% -34.6% ·

Latest News Recent headlines mentioning this company

23
Grail CFO Aaron Freidin Sells 7,900 Shares for $672,000 Nasdaq · 3 weeks, 3 days ago Is Grail (GRAL) Stock a Buy, Sell, or Hold at Under $70? Nasdaq · 2 months ago Here's Why Grail Stock Soared Higher This Week Nasdaq · 6 months ago This Investor Exited a $22 Million GRAIL Stake Before a 50% One-Day Stock Crash Last Month Nasdaq · 6 months, 1 week ago Here's Why Grail Shares Crushed the Market This Week Nasdaq · 6 months, 1 week ago

My Metrics Your personal watchlist — selected rows from Full Fundamentals

26

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Source: SEC 10-Q filed Aug 6, 2026