GRAIL (NASDAQ:GRAL) CEO Joshua Ofman Sells 20,000 Shares of Stock

GRAIL, Inc. (NASDAQ:GRAL) CEO Joshua Ofman sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, October 15th. The shares were sold at an average price of $136.85, for a total value of $2,737,000.00. Following the completion of the transaction, the chief executive officer directly owned 342,271 shares in the company, valued at $46,839,786.35. The trade was a 5.52% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

GRAIL Stock Performance

Shares of GRAL stock traded down $17.65 on Friday, hitting $117.81. The company’s stock had a trading volume of 1,304,897 shares, compared to its average volume of 1,496,757. GRAIL, Inc. has a fifty-two week low of $41.50 and a fifty-two week high of $166.48. The company has a market capitalization of $5.26 billion, a PE ratio of -12.08 and a beta of 2.83. The stock’s 50 day moving average is $98.79 and its 200-day moving average is $75.00.

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 the consensus estimate of ($2.66) by $0.10. The business 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%. On average, research analysts forecast that GRAIL, Inc. will post -10.42 earnings per share for the current year.

Institutional Investors Weigh In On GRAIL

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Moody National Bank Trust Division boosted its holdings in GRAIL by 1.3% during the 3rd quarter. Moody National Bank Trust Division now owns 13,478 shares of the company’s stock worth $1,889,000 after acquiring an additional 178 shares during the last quarter. Prosperity Consulting Group LLC grew its stake in shares of GRAIL by 6.9% in the 1st quarter. Prosperity Consulting Group LLC now owns 3,881 shares of the company’s stock worth $201,000 after acquiring an additional 250 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of GRAIL by 30.3% in the third quarter. GAMMA Investing LLC now owns 1,273 shares of the company’s stock valued at $178,000 after purchasing an additional 296 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in shares of GRAIL in the fourth quarter valued at about $28,000. Finally, Geneos Wealth Management Inc. lifted its position in shares of GRAIL by 160.0% during the first quarter. Geneos Wealth Management Inc. now owns 585 shares of the company’s stock valued at $30,000 after purchasing an additional 360 shares in the last quarter.

Analysts Set New Price Targets

A number of equities research analysts have commented on GRAL shares. Royal Bank Of Canada assumed coverage on GRAIL in a research report on Thursday, September 17th. They issued a “sector perform” rating and a $84.00 price target on the stock. TD Cowen raised their price objective on GRAIL from $88.00 to $180.00 and gave the stock a “buy” rating in a research report on Tuesday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of GRAIL in a research note on Thursday. Canaccord Genuity Group upped their target price on GRAIL from $80.00 to $150.00 and gave the company a “buy” rating in a report on Monday, September 28th. Finally, Morgan Stanley upped their target price on GRAIL from $60.00 to $120.00 and gave the company an “equal weight” rating in a report on Monday. Five analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $119.80.

GRAIL Company Profile

GRAIL, Inc is a healthcare company focused on developing blood-based technologies for the early detection of cancer. Its goal is to identify cancer signals before symptoms appear, when treatment may be more effective, by applying genomics, machine learning and other analytical methods to blood samples.

The company’s primary product is the Galleri multi-cancer early detection test, a prescription laboratory-developed test designed to screen for signals associated with multiple types of cancer from a single blood draw.