Primecap Management Co. CA Sells 33,346 Shares of GRAIL, Inc. $GRAL

Primecap Management Co. CA lessened its stake in shares of GRAIL, Inc. (NASDAQ:GRAL) by 1.6% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 2,020,940 shares of the company’s stock after selling 33,346 shares during the period. Primecap Management Co. CA owned approximately 5.61% of GRAIL worth $119,498,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. NewEdge Advisors LLC increased its position in GRAIL by 390.3% during 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 during the last quarter. Rossby Financial LCC purchased a new position in shares of GRAIL during the 3rd quarter worth about $62,000. Atlantic Union Bankshares Corp purchased a new position in shares of GRAIL during the 3rd quarter worth about $64,000. Roble Belko & Company Inc bought a new position in GRAIL during the 2nd quarter valued at about $68,000. Finally, Cypress Capital Management LLC WY purchased a new stake in GRAIL in the 2nd quarter worth about $72,000.

Analysts Set New Price Targets

GRAL has been the subject of several recent analyst reports. Guggenheim boosted their target price on GRAIL from $100.00 to $130.00 and gave the company a “buy” rating in a research report on Monday, January 26th. Weiss Ratings reiterated a “sell (d-)” rating on shares of GRAIL in a report on Thursday, January 22nd. Canaccord Genuity Group dropped their price objective on GRAIL from $105.00 to $80.00 and set a “buy” rating for the company in a report on Friday, February 20th. Morgan Stanley cut their price objective on GRAIL from $110.00 to $60.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Finally, TD Cowen initiated coverage on GRAIL in a research note on Thursday, February 19th. They issued a “hold” rating and a $114.00 target price on the stock. Three research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, GRAIL presently has a consensus rating of “Hold” and a consensus target price of $90.17.

GRAIL Stock Up 12.2%

NASDAQ GRAL opened at $58.10 on Friday. GRAIL, Inc. has a 52 week low of $20.44 and a 52 week high of $118.84. The company has a 50 day moving average price of $93.63 and a 200 day moving average price of $76.42. The firm has a market cap of $2.26 billion, a PE ratio of -5.20 and a beta of 4.52.

GRAIL (NASDAQ:GRAL) last released its quarterly earnings results on Thursday, February 19th. The company reported ($2.44) earnings per share (EPS) for the quarter, topping the consensus estimate of ($3.33) by $0.89. GRAIL had a negative net margin of 277.46% and a negative return on equity of 17.58%. The business had revenue of $43.60 million for the quarter, compared to analyst estimates of $43.33 million. On average, equities research analysts anticipate that GRAIL, Inc. will post -15.15 earnings per share for the current fiscal year.

GRAIL Company Profile

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.