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

GRAIL, Inc. (NASDAQ:GRAL) CEO Joshua Ofman sold 5,000 shares of GRAIL stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $85.02, for a total transaction of $425,100.00. Following the completion of the transaction, the chief executive officer owned 397,271 shares in the company, valued at approximately $33,775,980.42. This trade represents a 1.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

GRAIL Stock Performance

Shares of GRAL opened at $79.37 on Tuesday. The stock has a market capitalization of $3.55 billion, a P/E ratio of -8.14 and a beta of 3.24. GRAIL, Inc. has a 1 year low of $30.82 and a 1 year high of $118.84. The company’s fifty day moving average is $71.28 and its two-hundred day moving average is $63.22.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on GRAL shares. TD Cowen reaffirmed a “buy” rating on shares of GRAIL in a report on Wednesday, July 15th. Wall Street Zen raised GRAIL from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Piper Sandler lifted their price target on GRAIL from $54.00 to $56.00 and gave the company a “neutral” rating in a research note on Wednesday, May 6th. Robert W. Baird set a $70.00 price objective on GRAIL in a report on Wednesday, May 6th. Finally, Mizuho raised their target price on GRAIL from $58.00 to $65.00 and gave the company a “neutral” rating in a report on Wednesday, July 15th. Four analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, GRAIL has an average rating of “Hold” and an average price target of $67.78.

Institutional Investors Weigh In On GRAIL

A number of institutional investors and hedge funds have recently modified their holdings of the company. California State Teachers Retirement System raised its holdings in GRAIL by 6,569.8% during the second quarter. California State Teachers Retirement System now owns 2,966,058 shares of the company’s stock worth $202,493,000 after purchasing an additional 2,921,588 shares during the last quarter. Primecap Management Co. CA acquired a new stake in GRAIL in the second quarter valued at $148,836,000. Farallon Capital Management LLC grew its holdings in GRAIL by 73.7% in the fourth quarter. Farallon Capital Management LLC now owns 2,342,684 shares of the company’s stock valued at $200,510,000 after purchasing an additional 993,684 shares during the last quarter. Bank of America Corp DE purchased a new position in shares of GRAIL in the second quarter valued at $49,389,000. Finally, BlackRock Inc. increased its position in shares of GRAIL by 20.5% in the second quarter. BlackRock Inc. now owns 3,577,075 shares of the company’s stock valued at $244,207,000 after buying an additional 608,539 shares in the last quarter.

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.