The Manufacturers Life Insurance Company Invests $1.47 Million in GRAIL, Inc. $GRAL

The Manufacturers Life Insurance Company purchased a new stake in shares of GRAIL, Inc. (NASDAQ:GRAL) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 21,597 shares of the company’s stock, valued at approximately $1,474,000.

Other large investors have also recently added to or reduced their stakes in the company. Biondo Investment Advisors LLC acquired a new position in GRAIL in the second quarter valued at approximately $284,000. Commerce Bank acquired a new stake in GRAIL during the second quarter worth $1,842,000. Ieq Capital LLC purchased a new stake in GRAIL in the second quarter valued at $886,000. Green Alpha Advisors LLC purchased a new stake in GRAIL in the second quarter valued at $355,000. Finally, Allworth Financial LP purchased a new stake in GRAIL in the second quarter valued at $35,000.

GRAIL Stock Up 0.1%

Shares of NASDAQ GRAL opened at $80.62 on Friday. The business’s 50 day moving average is $72.25 and its two-hundred day moving average is $62.84. GRAIL, Inc. has a 52-week low of $31.89 and a 52-week high of $118.84. The firm has a market cap of $3.60 billion, a price-to-earnings ratio of -8.27 and a beta of 3.25.

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on GRAL shares. TD Cowen reiterated a “buy” rating on shares of GRAIL in a report on Wednesday, July 15th. The Goldman Sachs Group initiated coverage on shares of GRAIL in a report on Friday, June 5th. They issued a “neutral” rating and a $60.00 price objective on the stock. Wolfe Research started coverage on shares of GRAIL in a research report on Tuesday, June 2nd. They issued a “peer perform” rating on the stock. Wall Street Zen raised shares of GRAIL from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Finally, Mizuho lifted their price target on shares of GRAIL from $58.00 to $65.00 and gave the company a “neutral” rating in a research report on Wednesday, July 15th. Four analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $67.78.

Insider Activity

In other GRAIL news, CEO Joshua J. Ofman sold 5,000 shares of GRAIL stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $85.02, for a total value of $425,100.00. Following the completion of the transaction, the chief executive officer directly owned 397,271 shares of the company’s stock, valued at $33,775,980.42. The trade was a 1.24% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Aaron Freidin sold 7,900 shares of the business’s stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $85.01, for a total transaction of $671,579.00. Following the sale, the chief financial officer owned 253,083 shares in the company, valued at $21,514,585.83. This trade represents a 3.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.83% of the stock is currently owned by corporate insiders.

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.