Canada Pension Plan Investment Board Makes New $1.76 Million Investment in GRAIL, Inc. $GRAL

Canada Pension Plan Investment Board acquired a new position in GRAIL, Inc. (NASDAQ:GRAL) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 25,800 shares of the company’s stock, valued at approximately $1,761,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GRAL. Legal & General Group Plc bought a new stake in shares of GRAIL during the 2nd quarter valued at about $6,871,000. The Manufacturers Life Insurance Company bought a new stake in GRAIL in the second quarter worth approximately $1,474,000. Biondo Investment Advisors LLC acquired a new position in GRAIL in the second quarter valued at approximately $284,000. Commerce Bank acquired a new position in GRAIL in the second quarter valued at approximately $1,842,000. Finally, Ieq Capital LLC bought a new position in shares of GRAIL during the 2nd quarter worth approximately $886,000.

GRAIL Price Performance

Shares of NASDAQ:GRAL opened at $80.00 on Monday. GRAIL, Inc. has a twelve month low of $30.82 and a twelve month high of $118.84. The stock’s 50 day moving average is $70.93 and its 200-day moving average is $63.39. The firm has a market capitalization of $3.57 billion, a price-to-earnings ratio of -8.21 and a beta of 3.24.

GRAIL (NASDAQ:GRAL) last announced its quarterly earnings results on Wednesday, August 5th. The company reported ($2.56) EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $42.39 million. Equities research analysts anticipate that GRAIL, Inc. will post -10.41 earnings per share for the current fiscal year.

Analyst Ratings Changes

GRAL has been the subject of several recent analyst reports. Wall Street Zen raised shares of GRAIL from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Weiss Ratings reiterated a “sell (d-)” rating on shares of GRAIL in a research report on Friday, July 17th. Piper Sandler increased their target price on shares of GRAIL from $54.00 to $56.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 6th. Mizuho raised their price target on shares of GRAIL from $58.00 to $65.00 and gave the stock a “neutral” rating in a report on Wednesday, July 15th. Finally, The Goldman Sachs Group started coverage on shares of GRAIL in a research note on Friday, June 5th. They issued a “neutral” rating and a $60.00 price target for the company. Four research 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’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $67.78.

Insider Activity at GRAIL

In related news, insider Andrew John Partridge sold 1,491 shares of the company’s stock in a transaction dated 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 in the company, valued at $10,001,117.04. This represents a 0.90% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.83% of the stock is currently owned by insiders.

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.