Key Points
- GRAIL CEO Joshua Ofman sold 20,000 shares for approximately $2.74 million under a pre-arranged Rule 10b5-1 trading plan, reducing his position by 5.52% to 342,271 shares.
- GRAIL shares fell to $117.81 after trading as high as $166.48 over the past year. The company exceeded quarterly revenue and EPS expectations but remains unprofitable, with analysts projecting a loss of $10.42 per share for the fiscal year.
- Analyst sentiment is mixed, with a consensus “Hold” rating and a $119.80 price target; meanwhile, major institutional investors including BlackRock and State Street increased their GRAIL holdings.
GRAIL, Inc. (NASDAQ:GRAL - Get Free Report) CEO Joshua Ofman sold 20,000 shares of the stock in a transaction dated Thursday, October 15th. The shares were sold at an average price of $136.85, for a total transaction of $2,737,000.00. Following the transaction, the chief executive officer owned 342,271 shares of the company's stock, valued at approximately $46,839,786.35. The trade was a 5.52% decrease in their position. The transaction was disclosed in a document filed 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
NASDAQ:GRAL traded down $17.65 during trading hours on Friday, reaching $117.81. The stock had a trading volume of 1,304,897 shares, compared to its average volume of 1,496,757. The stock has a 50 day simple moving average of $98.79 and a 200 day simple moving average of $75.00. GRAIL, Inc. has a 12-month low of $41.50 and a 12-month high of $166.48. The stock has a market cap of $5.26 billion, a P/E ratio of -12.08 and a beta of 2.83.
GRAIL (NASDAQ:GRAL - Get Free Report) last posted its earnings results on Wednesday, August 5th. The company reported ($2.56) earnings per share (EPS) for the quarter, topping the consensus estimate of ($2.66) by $0.10. GRAIL had a negative return on equity of 15.88% and a negative net margin of 236.95%. The firm had revenue of $44.69 million for the quarter, compared to the consensus estimate of $42.39 million. On average, equities analysts expect that GRAIL, Inc. will post -10.42 earnings per share for the current fiscal year.
Hedge Funds Weigh In On GRAIL
A number of hedge funds have recently bought and sold shares of GRAL. Primecap Management Co. CA bought a new position in GRAIL in the second quarter worth about $148,836,000. Bank of America Corp DE bought a new stake in shares of GRAIL in the 2nd quarter valued at about $49,389,000. BlackRock Inc. boosted its holdings in shares of GRAIL by 20.5% in the 2nd 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. State Street Corp boosted its holdings in shares of GRAIL by 26.1% in the 2nd quarter. State Street Corp now owns 2,385,514 shares of the company's stock valued at $162,859,000 after buying an additional 493,621 shares in the last quarter. Finally, Baker BROS. Advisors LP grew its position in shares of GRAIL by 27.9% in the 4th quarter. Baker BROS. Advisors LP now owns 2,085,333 shares of the company's stock worth $178,484,000 after buying an additional 455,208 shares during the last quarter.
Wall Street Analysts Forecast Growth
Several research analysts have commented on the stock. Wall Street Zen raised shares of GRAIL from a "sell" rating to a "hold" rating in a research note on Sunday, September 13th. Morgan Stanley upped their price objective on shares of GRAIL from $60.00 to $120.00 and gave the company an "equal weight" rating in a research note on Monday. Canaccord Genuity Group increased their target price on shares of GRAIL from $80.00 to $150.00 and gave the company a "buy" rating in a report on Monday, September 28th. Royal Bank Of Canada began coverage on shares of GRAIL in a research report on Thursday, September 17th. They issued a "sector perform" rating and a $84.00 target price on the stock. Finally, Guggenheim boosted their price target on shares of GRAIL from $75.00 to $155.00 and gave the stock a "buy" rating in a research note on Thursday, October 1st. Five research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $119.80.
Get Our Latest Analysis on GRAIL
About GRAIL
(
Get Free Report)
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.
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