GRAIL (NASDAQ:GRAL) President Joshua Ofman Sells 2,937 Shares

GRAIL, Inc. (NASDAQ:GRAL) President Joshua Ofman sold 2,937 shares of GRAIL stock in a transaction on Monday, March 9th. The stock was sold at an average price of $47.89, for a total value of $140,652.93. Following the sale, the president owned 432,881 shares in the company, valued at $20,730,671.09. This trade represents a 0.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.

GRAIL Stock Performance

NASDAQ:GRAL traded down $0.41 during trading on Monday, reaching $49.82. The company’s stock had a trading volume of 1,587,964 shares, compared to its average volume of 2,112,505. GRAIL, Inc. has a 12 month low of $20.44 and a 12 month high of $118.84. The firm has a market cap of $1.94 billion, a price-to-earnings ratio of -4.46 and a beta of 5.21. The firm has a 50 day moving average of $88.14 and a 200-day moving average of $77.99.

GRAIL (NASDAQ:GRAL) last issued its quarterly 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 company 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%. Equities research analysts forecast that GRAIL, Inc. will post -15.15 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms recently commented on GRAL. TD Cowen started coverage on GRAIL in a research note on Thursday, February 19th. They issued a “hold” rating and a $114.00 price objective on the stock. Canaccord Genuity Group cut their price target on GRAIL from $105.00 to $80.00 and set a “buy” rating for the company in a research note on Friday, February 20th. Guggenheim boosted 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. Weiss Ratings reiterated a “sell (d-)” rating on shares of GRAIL in a research report on Thursday, January 22nd. Finally, Robert W. Baird set a $82.00 price target on shares of GRAIL in a research report on Friday, February 20th. Three investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $90.17.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of GRAL. Corient Private Wealth LLC increased its position in shares of GRAIL by 60.4% in the fourth quarter. Corient Private Wealth LLC now owns 9,274 shares of the company’s stock worth $794,000 after purchasing an additional 3,491 shares during the last quarter. NWF Advisory Services Inc. lifted its position in GRAIL by 7.6% during the fourth quarter. NWF Advisory Services Inc. now owns 22,070 shares of the company’s stock valued at $1,889,000 after purchasing an additional 1,564 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in GRAIL in the 4th quarter worth approximately $28,000. Banque Transatlantique SA bought a new position in shares of GRAIL in the 4th quarter worth $1,969,000. Finally, Virtu Financial LLC bought a new position in shares of GRAIL in the 4th quarter worth $370,000.

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.