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

Royal Bank of Canada reduced its position in GRAIL, Inc. (NASDAQ:GRAL) by 19.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 43,801 shares of the company’s stock after selling 10,534 shares during the period. Royal Bank of Canada owned 0.10% of GRAIL worth $2,262,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Empowered Funds LLC purchased a new position in GRAIL during the 1st quarter valued at approximately $311,000. Gamco Investors INC. ET AL raised its holdings in shares of GRAIL by 170.7% during the 1st quarter. Gamco Investors INC. ET AL now owns 66,758 shares of the company’s stock worth $3,450,000 after acquiring an additional 42,100 shares in the last quarter. Sei Investments Co. boosted its position in shares of GRAIL by 53.0% during the 1st quarter. Sei Investments Co. now owns 12,092 shares of the company’s stock valued at $625,000 after acquiring an additional 4,191 shares during the last quarter. First Trust Advisors LP boosted its position in shares of GRAIL by 3.5% during the 1st quarter. First Trust Advisors LP now owns 112,122 shares of the company’s stock valued at $5,794,000 after acquiring an additional 3,797 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its holdings in shares of GRAIL by 8.7% in the first quarter. PNC Financial Services Group Inc. now owns 9,617 shares of the company’s stock valued at $497,000 after purchasing an additional 772 shares in the last quarter.

Insider Buying and Selling at GRAIL

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

GRAIL Stock Performance

NASDAQ GRAL opened at $69.95 on Tuesday. The business’s 50 day moving average price is $67.75 and its 200-day moving average price is $64.79. GRAIL, Inc. has a fifty-two week low of $29.95 and a fifty-two week high of $118.84. The company has a market cap of $3.12 billion, a P/E ratio of -7.17 and a beta of 3.24.

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

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. TD Cowen restated a “buy” rating on shares of GRAIL in a research report on Wednesday, July 15th. The Goldman Sachs Group began coverage on shares of GRAIL in a research note on Friday, June 5th. They issued a “neutral” rating and a $60.00 price objective for the company. Wolfe Research started coverage on shares of GRAIL in a report on Tuesday, June 2nd. They issued a “peer perform” rating on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of GRAIL in a research report on Friday, July 17th. Finally, Wall Street Zen upgraded shares of GRAIL from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Four analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $67.78.

GRAIL 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.