Joshua Ofman Sells 17,002 Shares of GRAIL (NASDAQ:GRAL) Stock

GRAIL, Inc. (NASDAQ:GRAL) President Joshua Ofman sold 17,002 shares of GRAIL stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $50.16, for a total value of $852,820.32. Following the sale, the president owned 436,508 shares in the company, 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 Securities & Exchange Commission, which can be accessed through this hyperlink.

GRAIL Trading Up 2.4%

GRAL opened at $54.04 on Thursday. The company has a market cap of $2.11 billion, a price-to-earnings ratio of -4.83 and a beta of 5.18. The stock has a fifty day simple moving average of $90.52 and a two-hundred day simple moving average of $77.29. GRAIL, Inc. has a 12-month low of $20.44 and a 12-month high of $118.84.

GRAIL (NASDAQ:GRAL) last released its earnings results on Thursday, February 19th. The company reported ($2.44) earnings per share for the quarter, topping analysts’ consensus estimates of ($3.33) by $0.89. The firm had revenue of $43.60 million for the quarter, compared to the consensus estimate of $43.33 million. GRAIL had a negative net margin of 277.46% and a negative return on equity of 17.58%. On average, analysts predict that GRAIL, Inc. will post -15.15 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Perigon Wealth Management LLC boosted its position in shares of GRAIL by 0.7% during the fourth quarter. Perigon Wealth Management LLC now owns 19,450 shares of the company’s stock valued at $1,665,000 after buying an additional 133 shares during the last quarter. Parallel Advisors LLC lifted its stake in GRAIL by 5.2% during the 4th quarter. Parallel Advisors LLC now owns 2,667 shares of the company’s stock valued at $228,000 after acquiring an additional 133 shares during the period. Westmount Partners LLC boosted its holdings in shares of GRAIL by 1.8% during the 4th quarter. Westmount Partners LLC now owns 8,279 shares of the company’s stock valued at $709,000 after acquiring an additional 150 shares during the last quarter. Comerica Bank boosted its holdings in shares of GRAIL by 59.2% during the 3rd quarter. Comerica Bank now owns 465 shares of the company’s stock valued at $27,000 after acquiring an additional 173 shares during the last quarter. Finally, Whittier Trust Co. grew its stake in shares of GRAIL by 19.3% in the fourth quarter. Whittier Trust Co. now owns 1,114 shares of the company’s stock worth $95,000 after acquiring an additional 180 shares during the period.

Analysts Set New Price Targets

A number of brokerages have weighed in on GRAL. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of GRAIL in a research note on Thursday, January 22nd. Robert W. Baird set a $82.00 price objective on GRAIL in a research report on Friday, February 20th. Guggenheim lifted 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. Canaccord Genuity Group cut their target price on GRAIL from $105.00 to $80.00 and set a “buy” rating on the stock in a research note on Friday, February 20th. Finally, Morgan Stanley reduced their price target on GRAIL from $110.00 to $60.00 and set an “equal weight” rating for the company in a report on Tuesday, February 24th. Three equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $90.17.

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.