Jim Cramer on GRAIL: “Don’t Call Yourself Early if You’re Buying This One”

GRAIL, Inc. (NASDAQ:GRAL) is one of the stocks Jim Cramer put under the spotlight recently. Cramer noted the company’s huge run for the year and stated:

“And there’s Grail, a company that has a blood test that can detect cancer, maybe. It’s just got a readout for how the test works, and the results were mixed to positive. Grail immediately took advantage of the huge spike on the news… to do a private placement of $325 million. Now, I’m intrigued by the technology, but the company’s been losing hundreds of millions of dollars in the last five years, and the stock is up 347% for the year. Don’t call yourself early if you’re buying this one, even as the stock has pulled back from $103 to $79 over the past two days.”

Stock market reports printed on a sheet of paper. Photo by RDNE Stock Project on Pexels

GRAIL, Inc. (NASDAQ:GRAL) develops and markets blood-based tests for early cancer detection, including its Galleri screening test for multiple cancers. On October 21, when a caller inquired about the stock, Cramer showed bearish sentiment and said:

“Yeah, and I just read a really good piece the other day written by Dr. Topol, who’s been on the show a number of times. It did not make me feel that it was worth a, you know, I just didn’t think it was worth owning after this very big parabolic move. I’m going to say absolutely not to that one.”

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Disclosure: None. This article is originally published at Insider Monkey.