moneyheap
GRAL · Analysis updated Nov 10, 2026, 6:00 PM ET
Why is GRAIL, Inc. Common Stock (GRAL) stock moving?
GRAL reported Q3 results on Nov 4: Galleri revenue rose 14% to $37.3M and total revenue rose 4% to $37.5M, below the $44.3M sales estimate, though EPS of $(2.21) beat the $(2.55) estimate. The net loss was $103.6M and adjusted EBITDA was $(92.6)M, with $788.7M in cash and securities. The stock closed at $143.66 on Nov 4 and fell about 17% to $119.13 on Nov 5 on roughly 2.1M shares, about double the usual volume. It has since recovered to $124.74 on Nov 10, still about 23% below its Oct 29 high of $161.9. The main positive is the favorable September FDA advisory committee vote, with management now expecting an approval decision by early Q1 2027, a broad label, and $500 to $600 reimbursement; these are executive expectations, not confirmed outcomes. Analyst support is mixed: RBC (Sector Perform, $100) and Piper Sandler (Neutral, $130) both keep neutral ratings, while the consensus target of $134.33 is a Buy and sits about 8% above the last close. Near-term risks include the revenue miss and continuing losses.
News behind the analysis
- Grail Exec Says Co. In Conversations With Commercial Payers For Galleri Cancer TestA GRAIL executive said the company is in talks with commercial payers about coverage for the Galleri test. No agreements were disclosed.
- Grail Exec Expects FDA Decision On Approval For Galleri Cancer Test By Early Q1 2027; Expects Galleri Cancer Test To Be Reimbursed At $500 To $600Management expects an FDA approval decision by early Q1 2027 and anticipates reimbursement of $500 to $600 per test. These are executive expectations, not confirmed outcomes.
- GRAIL Exec Expects Broad Label For Galleri Cancer Test Based On Data Co Has Submitted To FDAA GRAIL executive expects a broad FDA label for Galleri, based on data already submitted to the agency. The view is management's, not an FDA statement.
- Piper Sandler Maintains Neutral on GRAIL, Raises Price Target to $130Piper Sandler kept its Neutral rating and raised its price target to $130. The new target sits about 4% above the last close of $124.74.
- RBC Capital Maintains Sector Perform on GRAIL, Raises Price Target to $100RBC Capital kept its Sector Perform rating and raised its price target to $100 from $84. The target is below the last close of $124.74.
- RBC Raises Price Target on GRAIL, Inc.RBC increased its price target for GRAIL to $100 from $84 while maintaining a Sector Perform rating.
- GRAIL, Inc. 12-Month Price Target Raised to $134.33Analysts raised the 12-month consensus price target for GRAIL to $134.33, with a consensus Buy rating. The target is about 8% above the last close.
- GRAIL Reports Third Quarter 2026 Financial ResultsQ3 Galleri test revenue rose 14% to $37.3M and Galleri test volume rose about 24% to more than 56,000 tests. Net loss was $103.6M and cash totaled $788.7M.
- GRAIL Q3 EPS $(2.21) Beats $(2.55) Estimate, Sales $37.269M Miss $44.346M EstimateGRAIL reported Q3 EPS of $(2.21), beating the $(2.55) estimate. Sales of $37.269M missed the $44.346M estimate.
About GRAIL, Inc. Common Stock
GRAIL is a Sunnyvale, California healthcare company that sells Galleri, a blood test that looks for signals of many types of cancer at once, before people have symptoms. It was spun off from Illumina in 2024. Its FDA approval application for Galleri got a favorable advisory committee vote in September 2026, and the company expects the FDA to make a decision by early 2027.
How it makes money
Almost all revenue comes from selling Galleri tests, which are ordered by doctors and paid for by patients, employers, health systems and some insurers. Galleri brought in about $37 million of the roughly $37.5 million total revenue in Q3 2026. A small remaining amount comes from development services for biopharma partners. The company still loses a lot of money, about $104 million in Q3 2026, and has said it will spend no more than about $300 million in cash in 2026.
What usually moves GRAL
- FDA approval decision on Galleri
- Insurance and Medicare coverage for multi-cancer screening
- Galleri test volume growth and pricing
- Clinical trial results such as NHS-Galleri
- Cash burn and funding needs