Joshua Ofman Sells 2,937 Shares of GRAIL (NASDAQ:GRAL) Stock

GRAIL, Inc. (NASDAQ:GRAL) President Joshua Ofman sold 2,937 shares of the stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $47.89, for a total transaction of $140,652.93. Following the transaction, the president directly owned 432,881 shares in the company, valued at $20,730,671.09. This trade represents a 0.67% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

GRAIL Trading Down 0.8%

GRAIL stock traded down $0.41 during midday trading on Monday, reaching $49.82. The stock had a trading volume of 1,587,964 shares, compared to its average volume of 2,112,505. GRAIL, Inc. has a 12 month low of $20.44 and a 12 month high of $118.84. The company has a market capitalization of $1.94 billion, a P/E ratio of -4.46 and a beta of 5.21. The company has a fifty day moving average price of $88.14 and a two-hundred day moving average price of $77.99.

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

Hedge Funds Weigh In On GRAIL

Several large investors have recently bought and sold shares of the stock. Corient Private Wealth LLC boosted its holdings in GRAIL by 60.4% during the 4th quarter. Corient Private Wealth LLC now owns 9,274 shares of the company’s stock worth $794,000 after acquiring an additional 3,491 shares during the last quarter. NWF Advisory Services Inc. raised its holdings in shares of GRAIL by 7.6% in the fourth quarter. NWF Advisory Services Inc. now owns 22,070 shares of the company’s stock valued at $1,889,000 after purchasing an additional 1,564 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in GRAIL during the fourth quarter worth about $28,000. Banque Transatlantique SA bought a new stake in GRAIL in the 4th quarter worth about $1,969,000. Finally, Virtu Financial LLC purchased a new stake in GRAIL in the 4th quarter valued at about $370,000.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. TD Cowen assumed coverage on GRAIL in a report on Thursday, February 19th. They issued a “hold” rating and a $114.00 target price on the stock. Canaccord Genuity Group decreased their price target on shares of GRAIL from $105.00 to $80.00 and set a “buy” rating for the company in a research note on Friday, February 20th. Robert W. Baird set a $82.00 price objective on shares of GRAIL in a research note on Friday, February 20th. Morgan Stanley reduced their price objective 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. Finally, Guggenheim boosted their target price on shares of GRAIL from $100.00 to $130.00 and gave the stock a “buy” rating in a research report on Monday, January 26th. Three equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $90.17.

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.