Insider Selling: GRAIL (NASDAQ:GRAL) CEO Sells $6,006,318.48 in Stock

GRAIL, Inc. (NASDAQ:GRAL) CEO Joshua Ofman sold 61,452 shares of the company’s stock in a transaction dated Monday, September 21st. The shares were sold at an average price of $97.74, for a total value of $6,006,318.48. Following the completion of the sale, the chief executive officer directly owned 362,271 shares of the company’s stock, valued at approximately $35,408,367.54. This trade represents a 14.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

GRAIL Price Performance

Shares of GRAL stock traded up $1.39 during trading hours on Wednesday, hitting $109.91. The stock had a trading volume of 1,075 shares, compared to its average volume of 945,800. The firm has a market capitalization of $4.91 billion, a PE ratio of -11.27 and a beta of 3.25. The stock’s 50 day moving average is $75.56 and its 200 day moving average is $64.31. GRAIL, Inc. has a twelve month low of $41.50 and a twelve month high of $118.84.

GRAIL (NASDAQ:GRAL) last announced its earnings results on Wednesday, August 5th. The company reported ($2.56) EPS for the quarter, beating analysts’ consensus estimates of ($2.66) by $0.10. The business had revenue of $44.69 million for 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%. As a group, equities analysts predict that GRAIL, Inc. will post -10.41 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on GRAL. Wall Street Zen upgraded shares of GRAIL from a “sell” rating to a “hold” rating in a research note on Sunday, September 13th. TD Cowen restated a “buy” rating on shares of GRAIL in a research report on Wednesday, July 15th. The Goldman Sachs Group started coverage on GRAIL in a research report on Friday, June 5th. They set a “neutral” rating and a $60.00 price objective for the company. Wolfe Research started coverage on GRAIL in a research note on Tuesday, June 2nd. They issued a “peer perform” rating on the stock. Finally, Royal Bank Of Canada began coverage on GRAIL in a report on Thursday, September 17th. They issued a “sector perform” rating and a $84.00 target price on the stock. Five equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $75.10.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Fifth Third Bancorp lifted its position in shares of GRAIL by 15,733.3% during the 1st quarter. Fifth Third Bancorp now owns 475 shares of the company’s stock valued at $25,000 after acquiring an additional 472 shares during the period. Caitong International Asset Management Co. Ltd purchased a new position in GRAIL in the 4th quarter valued at approximately $28,000. Geneos Wealth Management Inc. raised its holdings in GRAIL by 160.0% during the first quarter. Geneos Wealth Management Inc. now owns 585 shares of the company’s stock worth $30,000 after purchasing an additional 360 shares during the last quarter. Allworth Financial LP purchased a new stake in GRAIL during the second quarter worth $35,000. Finally, Osbon Capital Management LLC purchased a new stake in GRAIL during the fourth quarter worth $51,000.

GRAIL Company Profile

GRAIL, Inc is a healthcare company focused on developing blood-based tests for the early detection of cancer. Its technology uses genomic and epigenomic signals, including patterns of DNA methylation, to identify signals associated with multiple cancer types from a single blood sample.

The company’s primary product is Galleri, a prescription blood test designed to screen for signals of more than 50 types of cancer, including cancers that currently lack recommended screening methods. Galleri is intended to complement, not replace, guideline-recommended cancer screenings, and a positive result requires follow-up diagnostic testing to determine whether cancer is present and where it may be located.

GRAIL was founded in 2016 as a subsidiary of Illumina and became an independent publicly traded company following its separation from Illumina in 2021.