Ieq Capital LLC Acquires Shares of 12,974 GRAIL, Inc. $GRAL

Ieq Capital LLC acquired a new stake in shares of GRAIL, Inc. (NASDAQ:GRAL) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 12,974 shares of the company’s stock, valued at approximately $886,000.

A number of other institutional investors also recently modified their holdings of GRAL. Farallon Capital Management LLC increased its holdings in GRAIL by 73.7% during the 4th quarter. Farallon Capital Management LLC now owns 2,342,684 shares of the company’s stock valued at $200,510,000 after purchasing an additional 993,684 shares during the period. BlackRock Inc. grew its position in shares of GRAIL by 20.5% in the 2nd quarter. BlackRock Inc. now owns 3,577,075 shares of the company’s stock worth $244,207,000 after buying an additional 608,539 shares during the last quarter. Morgan Stanley grew its position in shares of GRAIL by 63.8% in the 4th quarter. Morgan Stanley now owns 1,511,687 shares of the company’s stock worth $129,385,000 after buying an additional 588,647 shares during the last quarter. State Street Corp increased its stake in shares of GRAIL by 38.8% during the fourth quarter. State Street Corp now owns 1,827,523 shares of the company’s stock valued at $156,418,000 after buying an additional 510,546 shares during the period. Finally, Baker BROS. Advisors LP increased its stake in shares of GRAIL by 27.9% during the fourth quarter. Baker BROS. Advisors LP now owns 2,085,333 shares of the company’s stock valued at $178,484,000 after buying an additional 455,208 shares during the period.

Analysts Set New Price Targets

GRAL has been the subject of a number of research analyst reports. Wolfe Research began coverage on GRAIL in a research note on Tuesday, June 2nd. They issued a “peer perform” rating for the company. The Goldman Sachs Group assumed coverage on shares of GRAIL in a research report on Friday, June 5th. They set a “neutral” rating and a $60.00 price objective on the stock. Piper Sandler upped their price objective on shares of GRAIL from $54.00 to $56.00 and gave the stock a “neutral” rating in a report on Wednesday, May 6th. Wall Street Zen raised shares of GRAIL from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, Mizuho lifted their target price on shares of GRAIL from $58.00 to $65.00 and gave the company a “neutral” rating in a research note on Wednesday, July 15th. Four investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, GRAIL presently has an average rating of “Hold” and an average price target of $67.78.

GRAIL Stock Performance

Shares of NASDAQ:GRAL opened at $82.50 on Friday. GRAIL, Inc. has a 52-week low of $30.82 and a 52-week high of $118.84. The firm has a market capitalization of $3.69 billion, a P/E ratio of -8.46 and a beta of 3.24. The stock has a 50 day moving average price of $70.61 and a 200-day moving average price of $63.53.

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

Insider Transactions at GRAIL

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

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.