GRAIL (NASDAQ:GRAL) CEO Sells $1,881,575.68 in Stock

GRAIL, Inc. (NASDAQ:GRAL) CEO Robert Ragusa sold 37,504 shares of the stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $50.17, for a total value of $1,881,575.68. Following the completion of the transaction, the chief executive officer owned 650,525 shares in the company, valued at approximately $32,636,839.25. The trade was a 5.45% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

GRAIL Stock Down 4.1%

Shares of GRAL opened at $51.80 on Friday. The stock has a 50 day moving average price of $89.73 and a 200 day moving average price of $77.12. GRAIL, Inc. has a 52-week low of $20.44 and a 52-week high of $118.84. The company has a market capitalization of $2.02 billion, a price-to-earnings ratio of -4.63 and a beta of 5.18.

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

Hedge Funds Weigh In On GRAIL

Several hedge funds and other institutional investors have recently made changes to their positions in GRAL. Royal Bank of Canada raised its position in GRAIL by 17.7% in the first quarter. Royal Bank of Canada now owns 88,082 shares of the company’s stock valued at $2,250,000 after purchasing an additional 13,264 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of GRAIL by 28.2% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,835 shares of the company’s stock valued at $76,000 after purchasing an additional 623 shares in the last quarter. NewEdge Advisors LLC grew its stake in GRAIL by 390.3% in the first quarter. NewEdge Advisors LLC now owns 1,760 shares of the company’s stock worth $45,000 after purchasing an additional 1,401 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in GRAIL by 37.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 92,465 shares of the company’s stock valued at $2,362,000 after buying an additional 25,177 shares during the last quarter. Finally, Teacher Retirement System of Texas increased its holdings in shares of GRAIL by 5.5% in the 2nd quarter. Teacher Retirement System of Texas now owns 8,538 shares of the company’s stock valued at $439,000 after acquiring an additional 447 shares during the last quarter.

Analyst Ratings Changes

A number of research firms recently issued reports on GRAL. Robert W. Baird set a $82.00 price target on GRAIL in a report on Friday, February 20th. Morgan Stanley lowered their target price on shares of GRAIL from $110.00 to $60.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 24th. Guggenheim upped their price objective on GRAIL from $100.00 to $130.00 and gave the stock a “buy” rating in a report on Monday, January 26th. TD Cowen began coverage on shares of GRAIL in a research report on Thursday, February 19th. They set a “hold” rating and a $114.00 target price on the stock. Finally, Canaccord Genuity Group dropped their price target on GRAIL from $105.00 to $80.00 and set a “buy” rating for the company in a research report on Friday, February 20th. Three equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $90.17.

About GRAIL

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.