Geode Capital Management LLC Has $68.61 Million Position in GRAIL, Inc. $GRAL

Geode Capital Management LLC raised its position in shares of GRAIL, Inc. (NASDAQ:GRAL) by 9.8% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 801,503 shares of the company’s stock after purchasing an additional 71,253 shares during the quarter. Geode Capital Management LLC owned approximately 2.06% of GRAIL worth $68,609,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in GRAL. Royal Bank of Canada increased its position in GRAIL by 17.7% during the 1st quarter. Royal Bank of Canada now owns 88,082 shares of the company’s stock valued at $2,250,000 after purchasing an additional 13,264 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in GRAIL by 28.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,835 shares of the company’s stock valued at $76,000 after purchasing an additional 623 shares during the period. NewEdge Advisors LLC increased its position in GRAIL by 390.3% during the 1st quarter. NewEdge Advisors LLC now owns 1,760 shares of the company’s stock valued at $45,000 after purchasing an additional 1,401 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in GRAIL by 37.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 92,465 shares of the company’s stock valued at $2,362,000 after purchasing an additional 25,177 shares during the period. Finally, JPMorgan Chase & Co. increased its position in GRAIL by 115.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 79,544 shares of the company’s stock valued at $4,090,000 after purchasing an additional 42,675 shares during the period.

GRAIL Stock Up 2.6%

Shares of GRAL opened at $61.52 on Tuesday. GRAIL, Inc. has a 12-month low of $29.95 and a 12-month high of $118.84. The business’s fifty day moving average is $57.45 and its 200 day moving average is $75.28. The stock has a market cap of $2.64 billion, a P/E ratio of -5.93 and a beta of 3.15.

GRAIL (NASDAQ:GRAL) last issued its earnings results on Tuesday, May 5th. The company reported ($2.29) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($2.76) by $0.47. GRAIL had a negative return on equity of 16.42% and a negative net margin of 253.22%.The company had revenue of $40.79 million for the quarter, compared to analysts’ expectations of $39.16 million. On average, analysts expect that GRAIL, Inc. will post -10.99 EPS for the current year.

Insider Transactions at GRAIL

In related news, CEO Robert P. Ragusa sold 123,502 shares of the stock in a transaction on Wednesday, April 8th. The stock was sold at an average price of $49.92, for a total value of $6,165,219.84. Following the transaction, the chief executive officer directly owned 518,582 shares in the company, valued at $25,887,613.44. This trade represents a 19.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Aaron Freidin sold 45,806 shares of the stock in a transaction on Wednesday, April 8th. The stock was sold at an average price of $49.92, for a total value of $2,286,635.52. Following the completion of the transaction, the chief financial officer owned 260,669 shares in the company, valued at approximately $13,012,596.48. This represents a 14.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 232,464 shares of company stock valued at $11,621,242 in the last 90 days. 1.83% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. The Goldman Sachs Group assumed coverage on shares of GRAIL in a research report on Friday. They set a “neutral” rating and a $60.00 target price for the company. TD Cowen increased their target price on shares of GRAIL from $65.00 to $69.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Canaccord Genuity Group decreased their target price on shares of GRAIL from $105.00 to $80.00 and set a “buy” rating for the company in a research report on Friday, February 20th. Wall Street Zen raised shares of GRAIL from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, Wolfe Research assumed coverage on shares of GRAIL in a research report on Tuesday, June 2nd. They set a “peer perform” rating for the company. Four investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $67.00.

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.