Primecap Management Co. CA Buys Shares of 2,180,106 GRAIL, Inc. $GRAL

Primecap Management Co. CA acquired a new position in shares of GRAIL, Inc. (NASDAQ:GRAL) in the second quarter, Holdings Channel.com reports. The institutional investor acquired 2,180,106 shares of the company’s stock, valued at approximately $148,836,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Bank of America Corp DE lifted its holdings in GRAIL by 29.0% during the 1st quarter. Bank of America Corp DE now owns 914,114 shares of the company’s stock worth $47,241,000 after buying an additional 205,611 shares in the last quarter. Russell Investments Group Ltd. raised its position in shares of GRAIL by 255.6% during the 2nd quarter. Russell Investments Group Ltd. now owns 28,403 shares of the company’s stock worth $1,939,000 after acquiring an additional 20,416 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in shares of GRAIL by 154,361.0% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 91,132 shares of the company’s stock worth $7,531,000 after buying an additional 91,073 shares during the last quarter. Vanguard Group Inc. boosted its stake in GRAIL by 9.0% in the fourth quarter. Vanguard Group Inc. now owns 1,980,783 shares of the company’s stock valued at $169,535,000 after acquiring an additional 163,790 shares in the last quarter. Finally, WIM INVESTMENT MANAGEMENT Ltd grew its stake in GRAIL by 68.9% during the 4th quarter. WIM INVESTMENT MANAGEMENT Ltd now owns 106,400 shares of the company’s stock worth $9,107,000 after buying an additional 43,400 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on GRAL shares. Piper Sandler lifted their price objective on shares of GRAIL from $54.00 to $56.00 and gave the company a “neutral” rating in a research note on Wednesday, May 6th. Wolfe Research started coverage on shares of GRAIL in a report on Tuesday, June 2nd. They set a “peer perform” rating on the stock. Mizuho boosted their price objective on shares of GRAIL from $58.00 to $65.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 15th. Wall Street Zen raised GRAIL from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Finally, Robert W. Baird set a $70.00 price objective on GRAIL in a report on Wednesday, May 6th. Four analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $67.78.

Insider Activity

In other news, insider Andrew John Partridge sold 1,491 shares of GRAIL stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $61.08, for a total transaction of $91,070.28. Following the sale, the insider directly owned 163,738 shares of the company’s stock, valued at approximately $10,001,117.04. The trade was a 0.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.83% of the company’s stock.

GRAIL Stock Up 7.8%

GRAL opened at $82.54 on Wednesday. GRAIL, Inc. has a 52-week low of $30.82 and a 52-week high of $118.84. The company has a 50 day moving average of $69.83 and a two-hundred day moving average of $63.76. The company has a market cap of $3.69 billion, a P/E ratio of -8.47 and a beta of 3.24.

GRAIL (NASDAQ:GRAL) last issued its 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 for the quarter, compared to the consensus estimate of $42.39 million. Research analysts anticipate that GRAIL, Inc. will post -10.41 earnings per share for the current year.

GRAIL Company 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.