Insider Selling: GRAIL (NASDAQ:GRAL) CEO Sells 37,504 Shares of Stock

GRAIL, Inc. (NASDAQ:GRAL) CEO Robert Ragusa sold 37,504 shares of the stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $50.17, for a total value of $1,881,575.68. Following the completion of the transaction, the chief executive officer directly owned 650,525 shares of the company’s stock, valued at approximately $32,636,839.25. This represents a 5.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

GRAIL Trading Up 0.2%

GRAL traded up $0.13 on Tuesday, hitting $52.76. 1,034,912 shares of the company’s stock were exchanged, compared to its average volume of 2,063,515. GRAIL, Inc. has a fifty-two week low of $20.44 and a fifty-two week high of $118.84. The stock has a market cap of $2.06 billion, a price-to-earnings ratio of -4.72 and a beta of 5.18. The firm has a 50-day moving average price of $91.27 and a 200-day moving average price of $77.46.

GRAIL (NASDAQ:GRAL) last issued its earnings results on Thursday, February 19th. The company reported ($2.44) EPS for the quarter, beating analysts’ consensus estimates of ($3.33) by $0.89. The business had revenue of $43.60 million during the quarter, compared to analysts’ expectations of $43.33 million. GRAIL had a negative net margin of 277.46% and a negative return on equity of 17.58%. On average, equities analysts predict that GRAIL, Inc. will post -15.15 EPS for the current year.

Institutional Trading of GRAIL

A number of hedge funds and other institutional investors have recently modified their holdings of GRAL. N.E.W. Advisory Services LLC purchased a new stake in GRAIL in the 4th quarter valued at about $26,000. Caitong International Asset Management Co. Ltd purchased a new position in GRAIL during the fourth quarter worth about $28,000. Elyxium Wealth LLC acquired a new stake in shares of GRAIL during the fourth quarter valued at about $31,000. Comerica Bank raised its stake in shares of GRAIL by 59.2% in the 3rd quarter. Comerica Bank now owns 465 shares of the company’s stock valued at $27,000 after acquiring an additional 173 shares during the period. Finally, Intesa Sanpaolo S.p.A. acquired a new position in shares of GRAIL in the 4th quarter worth approximately $44,000.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on GRAL. Morgan Stanley lowered their target price on GRAIL from $110.00 to $60.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 24th. Canaccord Genuity Group lowered their price objective on GRAIL from $105.00 to $80.00 and set a “buy” rating on the stock in a research note on Friday, February 20th. Robert W. Baird set a $82.00 target price on GRAIL in a report on Friday, February 20th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of GRAIL in a research note on Thursday, January 22nd. Finally, TD Cowen began coverage on GRAIL in a report on Thursday, February 19th. They set a “hold” rating and a $114.00 price target on the stock. Three research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, GRAIL presently has a consensus rating of “Hold” and an average price target of $90.17.

About GRAIL

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.