Man Group plc Takes Position in GRAIL, Inc. $GRAL

Man Group plc bought a new stake in shares of GRAIL, Inc. (NASDAQ:GRAL) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 7,659 shares of the company’s stock, valued at approximately $523,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GRAL. Bank of America Corp DE grew its position in shares of GRAIL by 29.0% in the first quarter. Bank of America Corp DE now owns 914,114 shares of the company’s stock valued at $47,241,000 after purchasing an additional 205,611 shares during the period. Russell Investments Group Ltd. lifted its stake in GRAIL by 255.6% in the 2nd quarter. Russell Investments Group Ltd. now owns 28,403 shares of the company’s stock valued at $1,939,000 after buying an additional 20,416 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in GRAIL by 154,361.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 91,132 shares of the company’s stock worth $7,531,000 after buying an additional 91,073 shares during the last quarter. Vanguard Group Inc. increased its stake in GRAIL by 9.0% during the 4th quarter. Vanguard Group Inc. now owns 1,980,783 shares of the company’s stock worth $169,535,000 after buying an additional 163,790 shares in the last quarter. Finally, WIM INVESTMENT MANAGEMENT Ltd raised its holdings in shares of GRAIL by 68.9% during the fourth quarter. WIM INVESTMENT MANAGEMENT Ltd now owns 106,400 shares of the company’s stock valued at $9,107,000 after acquiring an additional 43,400 shares during the last quarter.

GRAIL Trading Up 0.1%

NASDAQ GRAL opened at $80.62 on Friday. The stock has a fifty day simple moving average of $72.25 and a 200-day simple moving average of $62.84. The stock has a market cap of $3.60 billion, a PE ratio of -8.27 and a beta of 3.25. GRAIL, Inc. has a twelve month low of $31.89 and a twelve month high of $118.84.

GRAIL (NASDAQ:GRAL) last announced its quarterly earnings results on Wednesday, August 5th. The company reported ($2.56) earnings per share 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 during the quarter, compared to analysts’ expectations of $42.39 million. Research analysts predict that GRAIL, Inc. will post -10.41 EPS for the current year.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at GRAIL

In related news, CFO Aaron Freidin sold 7,900 shares of the company’s stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $85.01, for a total transaction of $671,579.00. Following the sale, the chief financial officer directly owned 253,083 shares of the company’s stock, valued at $21,514,585.83. This represents a 3.03% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Joshua J. Ofman sold 5,000 shares of the stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $85.02, for a total transaction of $425,100.00. Following the sale, the chief executive officer owned 397,271 shares in the company, valued at approximately $33,775,980.42. This trade represents a 1.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.83% of the stock is currently owned by insiders.

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.