Joshua Ofman Sells 5,000 Shares of GRAIL (NASDAQ:GRAL) Stock

GRAIL, Inc. (NASDAQ:GRAL) CEO Joshua Ofman sold 5,000 shares of GRAIL stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $85.02, for a total value of $425,100.00. Following the completion of the transaction, the chief executive officer owned 397,271 shares in the company, valued at $33,775,980.42. The trade was a 1.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

GRAIL Stock Performance

NASDAQ GRAL opened at $79.79 on Wednesday. The stock has a 50-day simple moving average of $71.65 and a 200 day simple moving average of $63.07. GRAIL, Inc. has a twelve month low of $30.82 and a twelve month high of $118.84. The stock has a market capitalization of $3.56 billion, a PE ratio of -8.18 and a beta of 3.25.

GRAIL (NASDAQ:GRAL) last released its earnings results on Wednesday, August 5th. The company reported ($2.56) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($2.66) by $0.10. The firm had revenue of $44.69 million for the quarter, compared to analyst estimates of $42.39 million. GRAIL had a negative return on equity of 15.88% and a negative net margin of 236.95%. As a group, equities research analysts forecast that GRAIL, Inc. will post -10.41 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of GRAIL in a research note on Friday, July 17th. Mizuho upped their target price on shares of 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 raised shares of GRAIL from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. TD Cowen restated a “buy” rating on shares of GRAIL in a research report on Wednesday, July 15th. Finally, Robert W. Baird set a $70.00 price objective on shares of GRAIL in a report on Wednesday, May 6th. Four equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, GRAIL currently has an average rating of “Hold” and a consensus price target of $67.78.

Institutional Trading of GRAIL

A number of hedge funds have recently modified their holdings of the company. Parallel Advisors LLC increased its position in shares of GRAIL by 5.2% during the fourth quarter. Parallel Advisors LLC now owns 2,667 shares of the company’s stock valued at $228,000 after purchasing an additional 133 shares during the period. Comerica Bank lifted its position in GRAIL by 59.2% in the third quarter. Comerica Bank now owns 465 shares of the company’s stock worth $27,000 after purchasing an additional 173 shares during the period. Prosperity Consulting Group LLC lifted its position in GRAIL by 6.9% in the first quarter. Prosperity Consulting Group LLC now owns 3,881 shares of the company’s stock worth $201,000 after purchasing an additional 250 shares during the period. Rossby Financial LCC boosted its stake in GRAIL by 25.0% during the fourth quarter. Rossby Financial LCC now owns 1,250 shares of the company’s stock worth $107,000 after buying an additional 250 shares in the last quarter. Finally, Blair William & Co. IL boosted its stake in GRAIL by 5.3% during the third quarter. Blair William & Co. IL now owns 5,356 shares of the company’s stock worth $317,000 after buying an additional 268 shares in the last quarter.

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.