GRAIL, Inc. $GRAL Shares Bought by JPMorgan Chase & Co.

JPMorgan Chase & Co. grew its holdings in shares of GRAIL, Inc. (NASDAQ:GRAL) by 159.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 206,120 shares of the company’s stock after purchasing an additional 126,576 shares during the period. JPMorgan Chase & Co.’s holdings in GRAIL were worth $12,188,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Comerica Bank grew its holdings in shares of GRAIL by 59.2% in the third quarter. Comerica Bank now owns 465 shares of the company’s stock valued at $27,000 after purchasing an additional 173 shares in the last quarter. Rossby Financial LCC purchased a new stake in GRAIL during the 3rd quarter worth approximately $62,000. Atlantic Union Bankshares Corp acquired a new stake in GRAIL during the 3rd quarter worth approximately $64,000. CIBC Private Wealth Group LLC lifted its holdings in GRAIL by 244.0% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 1,610 shares of the company’s stock worth $95,000 after buying an additional 1,142 shares in the last quarter. Finally, NewEdge Advisors LLC boosted its position in GRAIL by 390.3% in the 1st quarter. NewEdge Advisors LLC now owns 1,760 shares of the company’s stock valued at $45,000 after buying an additional 1,401 shares during the period.

GRAIL Stock Down 7.0%

Shares of GRAIL stock opened at $48.49 on Friday. 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 $1.99 billion, a P/E ratio of -4.34 and a beta of 5.18. The company has a 50 day moving average of $74.47 and a 200 day moving average of $78.73.

GRAIL (NASDAQ:GRAL) last announced its quarterly earnings data on Thursday, February 19th. The company reported ($2.44) EPS for the quarter, beating analysts’ consensus estimates of ($3.33) by $0.89. GRAIL had a negative net margin of 277.46% and a negative return on equity of 17.11%. The company had revenue of $43.60 million for the quarter, compared to the consensus estimate of $43.33 million. As a group, research analysts anticipate that GRAIL, Inc. will post -15.15 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, President Joshua J. Ofman sold 17,002 shares of the stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $50.16, for a total value of $852,820.32. Following the transaction, the president owned 436,508 shares of the company’s stock, valued at $21,895,241.28. This represents a 3.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Aaron Freidin sold 9,573 shares of the stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $50.17, for a total value of $480,277.41. Following the completion of the transaction, the chief financial officer directly owned 309,622 shares in the company, valued at $15,533,735.74. This trade represents a 3.00% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 79,294 shares of company stock worth $3,955,224. Corporate insiders own 1.85% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on GRAL. Morgan Stanley dropped their price target on shares of GRAIL from $110.00 to $60.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 24th. Guggenheim increased their price objective on GRAIL from $100.00 to $130.00 and gave the company a “buy” rating in a research note on Monday, January 26th. Robert W. Baird set a $82.00 target price on GRAIL in a report on Friday, February 20th. Canaccord Genuity Group cut their price target on GRAIL from $105.00 to $80.00 and set a “buy” rating on the stock in a report on Friday, February 20th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of GRAIL in a research report on Thursday, January 22nd. Four analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $82.00.

GRAIL 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.