Handelsbanken Fonder AB Purchases Shares of 9,400 GRAIL, Inc. $GRAL

Handelsbanken Fonder AB purchased a new stake in GRAIL, Inc. (NASDAQ:GRAL) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 9,400 shares of the company’s stock, valued at approximately $805,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Profund Advisors LLC increased its holdings in GRAIL by 141.2% in the 4th quarter. Profund Advisors LLC now owns 22,776 shares of the company’s stock valued at $1,949,000 after acquiring an additional 13,334 shares during the last quarter. ProShare Advisors LLC increased its holdings in shares of GRAIL by 23.5% in the 4th quarter. ProShare Advisors LLC now owns 8,149 shares of the company’s stock worth $697,000 after buying an additional 1,549 shares during the last quarter. Gamco Investors INC. ET AL increased its holdings in shares of GRAIL by 1.9% in the 4th quarter. Gamco Investors INC. ET AL now owns 24,658 shares of the company’s stock worth $2,110,000 after buying an additional 451 shares during the last quarter. Elyxium Wealth LLC bought a new stake in shares of GRAIL in the 4th quarter worth about $31,000. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in shares of GRAIL by 154,361.0% in 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.

Insider Transactions at GRAIL

In related news, President Joshua J. Ofman sold 61,665 shares of the stock in a transaction that occurred on Wednesday, April 8th. The shares were sold at an average price of $49.92, for a total transaction of $3,078,316.80. Following the completion of the sale, the president owned 371,216 shares of the company’s stock, valued at $18,531,102.72. This represents a 14.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Aaron Freidin sold 45,806 shares of the stock in a transaction that occurred on Wednesday, April 8th. The shares were sold at an average price of $49.92, for a total transaction of $2,286,635.52. Following the sale, the chief financial officer directly owned 260,669 shares of the company’s stock, valued at $13,012,596.48. The trade was a 14.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 310,267 shares of company stock valued at $15,485,396. Company insiders own 1.83% of the company’s stock.

GRAIL Price Performance

Shares of GRAL stock opened at $71.42 on Thursday. The company has a market capitalization of $3.07 billion, a P/E ratio of -6.89 and a beta of 3.03. The company’s 50-day simple moving average is $54.94 and its two-hundred day simple moving average is $76.29. GRAIL, Inc. has a one year low of $29.95 and a one year high of $118.84.

GRAIL (NASDAQ:GRAL) last issued its earnings results on Tuesday, May 5th. The company reported ($2.29) EPS for the quarter, topping analysts’ consensus estimates of ($2.76) by $0.47. The business had revenue of $40.79 million for the quarter, compared to the consensus estimate of $39.16 million. GRAIL had a negative net margin of 253.22% and a negative return on equity of 16.42%. On average, research analysts expect that GRAIL, Inc. will post -10.91 EPS for the current fiscal year.

Wall Street Analyst Weigh In

GRAL has been the topic of a number of research reports. TD Cowen boosted their target price on shares of GRAIL from $65.00 to $69.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Robert W. Baird set a $70.00 price target on shares of GRAIL in a report on Wednesday, May 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of GRAIL in a report on Tuesday, April 21st. Morgan Stanley cut their price target on shares of GRAIL from $110.00 to $60.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 24th. Finally, Mizuho assumed coverage on shares of GRAIL in a report on Friday, April 10th. They set a “neutral” rating and a $58.00 price target on the stock. Four equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $67.88.

GRAIL 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.