GRAIL (NASDAQ:GRAL) President Sells $852,820.32 in Stock

GRAIL, Inc. (NASDAQ:GRAL) President Joshua Ofman sold 17,002 shares of the business’s stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $50.16, for a total transaction of $852,820.32. Following the completion of the sale, the president directly owned 436,508 shares of the company’s stock, valued at approximately $21,895,241.28. This trade represents a 3.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

GRAIL Stock Performance

Shares of GRAL stock traded up $0.13 during mid-day trading on Tuesday, hitting $52.76. 1,034,912 shares of the stock were exchanged, compared to its average volume of 2,063,515. The stock’s fifty day simple moving average is $91.27 and its two-hundred day simple moving average is $77.46. GRAIL, Inc. has a 12-month low of $20.44 and a 12-month high of $118.84. The stock has a market capitalization of $2.06 billion, a price-to-earnings ratio of -4.72 and a beta of 5.18.

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of GRAL. WIM INVESTMENT MANAGEMENT Ltd increased its holdings in GRAIL by 200.0% in the third quarter. WIM INVESTMENT MANAGEMENT Ltd now owns 63,000 shares of the company’s stock valued at $3,725,000 after buying an additional 42,000 shares in the last quarter. Caxton Associates LLP acquired a new position in GRAIL during the second quarter worth $3,320,000. NWF Advisory Services Inc. purchased a new stake in GRAIL during the second quarter worth $1,062,000. Y Intercept Hong Kong Ltd acquired a new stake in GRAIL in the third quarter valued at $885,000. Finally, Legal Advantage Investments Inc. acquired a new position in shares of GRAIL during the 3rd quarter worth $1,242,000.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Morgan Stanley reduced their target price on shares of GRAIL from $110.00 to $60.00 and set an “equal weight” rating for the company in a report on Tuesday, February 24th. Guggenheim boosted their price target on GRAIL from $100.00 to $130.00 and gave the company a “buy” rating in a research report on Monday, January 26th. Robert W. Baird set a $82.00 target price on GRAIL in a research note on Friday, February 20th. Weiss Ratings reissued a “sell (d-)” rating on shares of GRAIL in a report on Thursday, January 22nd. Finally, TD Cowen assumed coverage on GRAIL in a report on Thursday, February 19th. They set a “hold” rating and a $114.00 price target for the company. Three investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, GRAIL presently has an average 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.