GRAIL (NASDAQ:GRAL) CEO Sells $2,737,000.00 in Stock

GRAIL, Inc. (NASDAQ:GRAL) CEO Joshua Ofman sold 20,000 shares of the company’s stock in a transaction on Thursday, October 15th. The shares were sold at an average price of $136.85, for a total transaction of $2,737,000.00. Following the completion of the transaction, the chief executive officer owned 342,271 shares of the company’s stock, valued at $46,839,786.35. This represents a 5.52% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

GRAIL Stock Down 13.0%

GRAL traded down $17.65 during trading on Friday, hitting $117.81. 1,303,359 shares of the stock were exchanged, compared to its average volume of 977,662. GRAIL, Inc. has a 1-year low of $41.50 and a 1-year high of $166.48. The stock has a fifty day moving average price of $97.82 and a two-hundred day moving average price of $74.70. The firm has a market capitalization of $5.26 billion, a P/E ratio of -12.08 and a beta of 2.83.

GRAIL (NASDAQ:GRAL) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($2.56) EPS for the quarter, beating the consensus estimate of ($2.66) by $0.10. GRAIL had a negative return on equity of 15.88% and a negative net margin of 236.95%. The firm had revenue of $44.69 million during the quarter, compared to the consensus estimate of $42.39 million. Analysts predict that GRAIL, Inc. will post -10.41 EPS for the current year.

Hedge Funds Weigh In On GRAIL

A number of large investors have recently made changes to their positions in the stock. Moody National Bank Trust Division raised its position in shares of GRAIL by 1.3% in the 3rd quarter. Moody National Bank Trust Division now owns 13,478 shares of the company’s stock worth $1,889,000 after buying an additional 178 shares during the period. Prosperity Consulting Group LLC boosted its holdings in GRAIL by 6.9% in the first quarter. Prosperity Consulting Group LLC now owns 3,881 shares of the company’s stock valued at $201,000 after acquiring an additional 250 shares during the last quarter. GAMMA Investing LLC boosted its holdings in GRAIL by 30.3% in the third quarter. GAMMA Investing LLC now owns 1,273 shares of the company’s stock valued at $178,000 after acquiring an additional 296 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in GRAIL in the fourth quarter valued at $28,000. Finally, Geneos Wealth Management Inc. grew its position in GRAIL by 160.0% during the first quarter. Geneos Wealth Management Inc. now owns 585 shares of the company’s stock valued at $30,000 after acquiring an additional 360 shares during the period.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on GRAL shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of GRAIL in a report on Thursday. Robert W. Baird increased their target price on GRAIL from $96.00 to $118.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 22nd. Mizuho raised their price target on GRAIL from $65.00 to $100.00 and gave the company a “neutral” rating in a report on Friday, September 25th. Wall Street Zen raised GRAIL from a “sell” rating to a “hold” rating in a report on Sunday, September 13th. Finally, Morgan Stanley lifted their price target on GRAIL from $60.00 to $120.00 and gave the company an “equal weight” rating in a research note on Monday. Five research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, GRAIL has a consensus rating of “Hold” and an average target price of $119.80.

About GRAIL

GRAIL, Inc is a healthcare company focused on developing blood-based technologies for the early detection of cancer. Its goal is to identify cancer signals before symptoms appear, when treatment may be more effective, by applying genomics, machine learning and other analytical methods to blood samples.

The company’s primary product is the Galleri multi-cancer early detection test, a prescription laboratory-developed test designed to screen for signals associated with multiple types of cancer from a single blood draw.