JPMorgan Chase & Co. Raises Stake in GRAIL, Inc. $GRAL

JPMorgan Chase & Co. grew its stake in GRAIL, Inc. (NASDAQ:GRAL) by 159.1% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 206,120 shares of the company’s stock after acquiring an additional 126,576 shares during the quarter. JPMorgan Chase & Co. owned about 0.53% of GRAIL worth $12,188,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Royal Bank of Canada grew its holdings in shares of GRAIL by 17.7% in the first quarter. Royal Bank of Canada now owns 88,082 shares of the company’s stock valued at $2,250,000 after purchasing an additional 13,264 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in GRAIL by 28.2% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,835 shares of the company’s stock worth $76,000 after purchasing an additional 623 shares during the period. NewEdge Advisors LLC boosted its holdings in GRAIL by 390.3% in the 1st quarter. NewEdge Advisors LLC now owns 1,760 shares of the company’s stock valued at $45,000 after purchasing an additional 1,401 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in GRAIL by 37.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 92,465 shares of the company’s stock valued at $2,362,000 after purchasing an additional 25,177 shares during the last quarter. Finally, Creative Planning purchased a new stake in shares of GRAIL in the 2nd quarter valued at approximately $725,000.

Insider Activity at GRAIL

In other GRAIL news, CFO Aaron Freidin sold 2,492 shares of the business’s stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $47.89, for a total value of $119,341.88. Following the sale, the chief financial officer owned 306,475 shares of the company’s stock, valued at $14,677,087.75. The trade was a 0.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, President Joshua J. Ofman sold 2,937 shares of the company’s 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 transaction, 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. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 79,294 shares of company stock worth $3,955,224. Insiders own 1.85% of the company’s stock.

GRAIL Price Performance

Shares of GRAL stock opened at $48.49 on Friday. GRAIL, Inc. has a 1-year low of $20.44 and a 1-year high of $118.84. The firm has a market cap of $1.99 billion, a PE ratio of -4.34 and a beta of 5.18. The company has a 50-day moving average of $74.47 and a two-hundred day moving average of $78.73.

GRAIL (NASDAQ:GRAL) last released its quarterly earnings results on Thursday, February 19th. The company reported ($2.44) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($3.33) by $0.89. GRAIL had a negative net margin of 277.46% and a negative return on equity of 17.11%. The business had revenue of $43.60 million for the quarter, compared to the consensus estimate of $43.33 million. Sell-side analysts anticipate that GRAIL, Inc. will post -15.15 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Canaccord Genuity Group cut their price target on shares of GRAIL from $105.00 to $80.00 and set a “buy” rating for the company in a report on Friday, February 20th. TD Cowen upgraded GRAIL from a “hold” rating to a “buy” rating and set a $65.00 price objective on the stock in a report on Wednesday, March 18th. Weiss Ratings reissued a “sell (d-)” rating on shares of GRAIL in a research note on Thursday, January 22nd. Robert W. Baird set a $82.00 target price on GRAIL in a research report on Friday, February 20th. Finally, Guggenheim upped their price target on GRAIL from $100.00 to $130.00 and gave the company a “buy” rating in a research note on Monday, January 26th. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, GRAIL has a consensus rating of “Moderate Buy” and an average target price of $82.00.

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.