Insider Selling: GRAIL (NASDAQ:GRAL) President Sells $36,576.90 in Stock

GRAIL, Inc. (NASDAQ:GRAL) President Joshua Ofman sold 690 shares of the business’s stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $53.01, for a total transaction of $36,576.90. Following the completion of the transaction, the president directly owned 435,818 shares of the company’s stock, valued at $23,102,712.18. This trade represents a 0.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

GRAIL Trading Down 4.8%

Shares of GRAIL stock opened at $46.33 on Thursday. The stock’s fifty day simple moving average is $86.62 and its 200 day simple moving average is $77.87. The company has a market capitalization of $1.81 billion, a PE ratio of -4.14 and a beta of 5.18. GRAIL, Inc. has a 12 month low of $20.44 and a 12 month high of $118.84.

GRAIL (NASDAQ:GRAL) last announced 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. The company had revenue of $43.60 million during the quarter, compared to the consensus estimate of $43.33 million. GRAIL had a negative return on equity of 17.58% and a negative net margin of 277.46%. Analysts predict that GRAIL, Inc. will post -15.15 EPS for the current fiscal year.

Institutional Trading of GRAIL

A number of hedge funds and other institutional investors have recently made changes to their positions in GRAL. Royal Bank of Canada lifted its position in shares of GRAIL by 17.7% in the first quarter. Royal Bank of Canada now owns 88,082 shares of the company’s stock worth $2,250,000 after purchasing an additional 13,264 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in GRAIL by 28.2% in the first 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 position in GRAIL by 390.3% in the first quarter. NewEdge Advisors LLC now owns 1,760 shares of the company’s stock valued at $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 stake in GRAIL by 37.4% in the 1st 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 lifted its position in GRAIL by 5.5% during the 2nd quarter. Teacher Retirement System of Texas now owns 8,538 shares of the company’s stock worth $439,000 after buying an additional 447 shares in the last quarter.

Wall Street Analyst Weigh In

GRAL has been the subject of a number of research reports. Canaccord Genuity Group lowered their target price on GRAIL from $105.00 to $80.00 and set a “buy” rating for the company in a research note on Friday, February 20th. Morgan Stanley reduced their price target on shares of GRAIL from $110.00 to $60.00 and set an “equal weight” rating for the company in a report on Tuesday, February 24th. Weiss Ratings reissued a “sell (d-)” rating on shares of GRAIL in a research report on Thursday, January 22nd. Robert W. Baird set a $82.00 price objective on shares of GRAIL in a report on Friday, February 20th. Finally, TD Cowen assumed coverage on shares of GRAIL in a research note on Thursday, February 19th. They issued a “hold” rating and a $114.00 target price for the company. Three research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $90.17.

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.