Royal Bank of Canada Sells 10,534 Shares of GRAIL, Inc. $GRAL

Royal Bank of Canada reduced its holdings in shares of GRAIL, Inc. (NASDAQ:GRAL) by 19.4% in the first quarter, according to its most recent filing with the SEC. The fund owned 43,801 shares of the company’s stock after selling 10,534 shares during the period. Royal Bank of Canada’s holdings in GRAIL were worth $2,262,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of GRAL. Fifth Third Bancorp increased its stake in GRAIL by 15,733.3% in the first quarter. Fifth Third Bancorp now owns 475 shares of the company’s stock worth $25,000 after purchasing an additional 472 shares during the period. N.E.W. Advisory Services LLC purchased a new stake in shares of GRAIL during the fourth quarter valued at $26,000. 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 worth $27,000 after purchasing an additional 173 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in GRAIL in the 4th quarter worth about $28,000. Finally, Geneos Wealth Management Inc. increased its stake in GRAIL by 160.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 585 shares of the company’s stock worth $30,000 after buying an additional 360 shares during the period.

GRAIL Price Performance

NASDAQ:GRAL opened at $69.95 on Tuesday. GRAIL, Inc. has a 1-year low of $29.95 and a 1-year high of $118.84. The company has a 50-day moving average of $67.75 and a 200 day moving average of $64.79. The firm has a market cap of $3.12 billion, a PE ratio of -7.17 and a beta of 3.24.

GRAIL (NASDAQ:GRAL) last posted its earnings results on Wednesday, August 5th. The company reported ($2.56) EPS for the quarter, beating analysts’ consensus estimates of ($2.66) by $0.10. GRAIL had a negative net margin of 236.95% and a negative return on equity of 15.88%. The business had revenue of $44.69 million for the quarter, compared to the consensus estimate of $42.39 million. Sell-side analysts anticipate that GRAIL, Inc. will post -10.41 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on GRAL. Robert W. Baird set a $70.00 price objective on shares of GRAIL in a research report on Wednesday, May 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of GRAIL in a research note on Friday, July 17th. TD Cowen reiterated a “buy” rating on shares of GRAIL in a report on Wednesday, July 15th. Piper Sandler increased their price objective on GRAIL from $54.00 to $56.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 6th. Finally, Mizuho raised their price objective on GRAIL from $58.00 to $65.00 and gave the stock a “neutral” rating in a report on Wednesday, July 15th. Four research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $67.78.

Insider Activity

In related news, insider Andrew John Partridge sold 1,491 shares of GRAIL stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $61.08, for a total transaction of $91,070.28. Following the transaction, the insider directly owned 163,738 shares of the company’s stock, valued at $10,001,117.04. This trade represents a 0.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 1.83% of the company’s stock.

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.