Insider Selling: GRAIL (NASDAQ:GRAL) CFO Sells $480,277.41 in Stock

GRAIL, Inc. (NASDAQ:GRAL) CFO Aaron Freidin sold 9,573 shares of the company’s stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $50.17, for a total value of $480,277.41. Following the completion of the sale, the chief financial officer owned 309,622 shares in the company, valued at $15,533,735.74. This trade represents a 3.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

GRAIL Trading Down 4.1%

GRAIL stock opened at $51.80 on Friday. The company’s 50-day moving average is $89.73 and its two-hundred day moving average is $77.12. The company has a market cap of $2.02 billion, a PE ratio of -4.63 and a beta of 5.18. GRAIL, Inc. has a 1 year low of $20.44 and a 1 year high of $118.84.

GRAIL (NASDAQ:GRAL) last posted its quarterly earnings results on Thursday, February 19th. The company reported ($2.44) earnings per share (EPS) for the quarter, topping the consensus estimate of ($3.33) by $0.89. The business had revenue of $43.60 million for the quarter, compared to analyst estimates of $43.33 million. GRAIL had a negative return on equity of 17.58% and a negative net margin of 277.46%. Research analysts forecast that GRAIL, Inc. will post -15.15 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Royal Bank of Canada raised its holdings in shares of GRAIL by 17.7% during 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 period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in GRAIL by 28.2% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,835 shares of the company’s stock valued at $76,000 after buying an additional 623 shares during the last quarter. NewEdge Advisors LLC grew its stake in shares of GRAIL by 390.3% during the 1st quarter. NewEdge Advisors LLC now owns 1,760 shares of the company’s stock worth $45,000 after acquiring an additional 1,401 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of 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 worth $2,362,000 after purchasing an additional 25,177 shares in the last quarter. Finally, Teacher Retirement System of Texas lifted its position in shares of GRAIL by 5.5% in the second quarter. Teacher Retirement System of Texas now owns 8,538 shares of the company’s stock worth $439,000 after purchasing an additional 447 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Canaccord Genuity Group cut their price target on shares of GRAIL from $105.00 to $80.00 and set a “buy” rating on the stock in a research report on Friday, February 20th. Weiss Ratings reiterated a “sell (d-)” rating on shares of GRAIL in a report on Thursday, January 22nd. Guggenheim lifted their price target on shares of GRAIL from $100.00 to $130.00 and gave the stock a “buy” rating in a research report on Monday, January 26th. Morgan Stanley lowered their price objective on shares of GRAIL from $110.00 to $60.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 24th. Finally, TD Cowen started coverage on GRAIL in a research note on Thursday, February 19th. They set a “hold” rating and a $114.00 price objective on the stock. Three research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, GRAIL has a consensus rating of “Hold” and a consensus 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.