Aaron Freidin Sells 7,900 Shares of GRAIL (NASDAQ:GRAL) Stock

GRAIL, Inc. (NASDAQ:GRAL) CFO Aaron Freidin sold 7,900 shares of GRAIL stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $85.01, for a total transaction of $671,579.00. Following the sale, the chief financial officer owned 253,083 shares of the company’s stock, valued at approximately $21,514,585.83. This represents a 3.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

GRAIL Stock Performance

GRAIL stock opened at $79.79 on Wednesday. The company’s 50 day simple moving average is $71.65 and its 200-day simple moving average is $63.07. GRAIL, Inc. has a 1 year low of $30.82 and a 1 year high of $118.84. The company has a market capitalization of $3.56 billion, a price-to-earnings ratio of -8.18 and a beta of 3.25.

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

Hedge Funds Weigh In On GRAIL

Several institutional investors have recently modified their holdings of GRAL. Caitong International Asset Management Co. Ltd purchased a new stake in shares of GRAIL during the fourth quarter worth $28,000. Elyxium Wealth LLC purchased a new position in GRAIL in the fourth quarter valued at $31,000. Comerica Bank grew its stake in GRAIL by 59.2% during the 3rd quarter. Comerica Bank now owns 465 shares of the company’s stock worth $27,000 after purchasing an additional 173 shares in the last quarter. Fifth Third Bancorp grew its stake in GRAIL by 15,733.3% during the 1st quarter. Fifth Third Bancorp now owns 475 shares of the company’s stock worth $25,000 after purchasing an additional 472 shares in the last quarter. Finally, Allworth Financial LP purchased a new stake in GRAIL during the 2nd quarter worth about $35,000.

Analyst Upgrades and Downgrades

GRAL has been the subject of a number of research reports. Mizuho lifted their price objective on GRAIL from $58.00 to $65.00 and gave the company a “neutral” rating in a research note on Wednesday, July 15th. TD Cowen reissued a “buy” rating on shares of GRAIL in a research note on Wednesday, July 15th. Robert W. Baird set a $70.00 target price on GRAIL in a report on Wednesday, May 6th. The Goldman Sachs Group initiated coverage on GRAIL in a research report on Friday, June 5th. They issued a “neutral” rating and a $60.00 target price for the company. Finally, Wall Street Zen upgraded shares of GRAIL from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Four research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $67.78.

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.