GRAIL (NASDAQ:GRAL) CEO Sells 61,452 Shares of Stock

GRAIL, Inc. (NASDAQ:GRAL) CEO Joshua Ofman sold 61,452 shares of the stock in a transaction dated Monday, September 21st. The shares were sold at an average price of $97.74, for a total transaction of $6,006,318.48. Following the completion of the sale, the chief executive officer directly owned 362,271 shares in the company, valued at approximately $35,408,367.54. The trade was a 14.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

GRAIL Price Performance

GRAL traded up $1.39 during midday trading on Wednesday, reaching $109.91. 1,075 shares of the company’s stock were exchanged, compared to its average volume of 945,800. GRAIL, Inc. has a 1-year low of $41.50 and a 1-year high of $118.84. The stock has a market capitalization of $4.91 billion, a PE ratio of -11.27 and a beta of 3.25. The business’s 50-day moving average price is $75.56 and its 200 day moving average price is $64.31.

GRAIL (NASDAQ:GRAL) last released its quarterly earnings results on Wednesday, August 5th. The company reported ($2.56) EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $42.39 million. As a group, analysts expect that GRAIL, Inc. will post -10.41 EPS for the current fiscal year.

Institutional Trading of GRAIL

Several hedge funds and other institutional investors have recently bought and sold shares of GRAL. State Street Corp lifted its stake in shares of GRAIL by 26.1% during the 2nd quarter. State Street Corp now owns 2,385,514 shares of the company’s stock worth $162,859,000 after purchasing an additional 493,621 shares during the period. The Manufacturers Life Insurance Company increased its stake in GRAIL by 26.3% in the second quarter. The Manufacturers Life Insurance Company now owns 21,597 shares of the company’s stock valued at $1,474,000 after purchasing an additional 4,498 shares during the last quarter. Integrated Wealth Concepts LLC acquired a new position in GRAIL in the second quarter valued at $82,000. Arizona State Retirement System lifted its position in GRAIL by 8.6% during the second quarter. Arizona State Retirement System now owns 10,470 shares of the company’s stock worth $715,000 after buying an additional 833 shares during the period. Finally, Nykredit A S purchased a new position in GRAIL during the second quarter worth about $96,000.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Mizuho increased their target price on GRAIL from $58.00 to $65.00 and gave the company a “neutral” rating in a report on Wednesday, July 15th. Wolfe Research began coverage on GRAIL in a research report on Tuesday, June 2nd. They issued a “peer perform” rating on the stock. Royal Bank Of Canada started coverage on GRAIL in a research note on Thursday, September 17th. They set a “sector perform” rating and a $84.00 price objective on the stock. The Goldman Sachs Group started coverage on GRAIL in a research report on Friday, June 5th. They set a “neutral” rating and a $60.00 price objective for the company. Finally, UBS Group set a $84.00 target price on shares of GRAIL in a research note on Thursday, September 17th. Five research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, GRAIL currently has a consensus rating of “Hold” and a consensus price target of $75.10.

About GRAIL

GRAIL, Inc is a healthcare company focused on developing blood-based tests for the early detection of cancer. Its technology uses genomic and epigenomic signals, including patterns of DNA methylation, to identify signals associated with multiple cancer types from a single blood sample.

The company’s primary product is Galleri, a prescription blood test designed to screen for signals of more than 50 types of cancer, including cancers that currently lack recommended screening methods. Galleri is intended to complement, not replace, guideline-recommended cancer screenings, and a positive result requires follow-up diagnostic testing to determine whether cancer is present and where it may be located.

GRAIL was founded in 2016 as a subsidiary of Illumina and became an independent publicly traded company following its separation from Illumina in 2021.