Insider Selling: GRAIL (NASDAQ:GRAL) CEO Sells 5,000 Shares

GRAIL, Inc. (NASDAQ:GRAL) CEO Joshua Ofman sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $85.02, for a total transaction of $425,100.00. Following the completion of the sale, the chief executive officer owned 397,271 shares of the company’s stock, valued at approximately $33,775,980.42. This trade represents a 1.24% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

GRAIL Trading Down 0.8%

GRAIL stock traded down $0.63 during midday trading on Monday, reaching $79.37. The stock had a trading volume of 555,941 shares, compared to its average volume of 781,912. GRAIL, Inc. has a twelve month low of $30.82 and a twelve month high of $118.84. The firm’s fifty day simple moving average is $71.28 and its two-hundred day simple moving average is $63.22.

GRAIL (NASDAQ:GRAL) last announced its earnings results on Wednesday, August 5th. The company reported ($2.56) earnings per share (EPS) 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 the consensus estimate of $42.39 million. GRAIL had a negative net margin of 236.95% and a negative return on equity of 15.88%. Research analysts forecast that GRAIL, Inc. will post -10.41 EPS for the current year.

Hedge Funds Weigh In On GRAIL

Hedge funds have recently modified their holdings of the stock. Royal Bank of Canada increased its stake 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 worth $2,250,000 after acquiring an additional 13,264 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position 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 valued at $76,000 after purchasing an additional 623 shares during the last quarter. NewEdge Advisors LLC grew its stake in GRAIL by 390.3% in the first 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 in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in GRAIL by 37.4% in the first 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 in the last quarter. Finally, JPMorgan Chase & Co. increased its position in GRAIL by 115.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 79,544 shares of the company’s stock worth $4,090,000 after purchasing an additional 42,675 shares during the last quarter.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on GRAL. Robert W. Baird set a $70.00 price objective on GRAIL in a research note on Wednesday, May 6th. Mizuho lifted their target price on GRAIL from $58.00 to $65.00 and gave the company a “neutral” rating in a research note on Wednesday, July 15th. Wall Street Zen upgraded GRAIL from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Weiss Ratings reissued a “sell (d-)” rating on shares of GRAIL in a research report on Friday, July 17th. Finally, Piper Sandler increased their price target on shares of GRAIL from $54.00 to $56.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 6th. Four research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, GRAIL presently has an average rating of “Hold” and a consensus price target of $67.78.

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.