Concurrent Investment Advisors LLC Acquires Shares of 16,028 GRAIL, Inc. $GRAL

Concurrent Investment Advisors LLC bought a new position in shares of GRAIL, Inc. (NASDAQ:GRAL) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 16,028 shares of the company’s stock, valued at approximately $824,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in GRAL. Farther Finance Advisors LLC raised its stake in GRAIL by 768.1% during the 2nd quarter. Farther Finance Advisors LLC now owns 816 shares of the company’s stock valued at $42,000 after acquiring an additional 722 shares during the last quarter. KBC Group NV increased its holdings in shares of GRAIL by 187.7% in the first quarter. KBC Group NV now owns 1,430 shares of the company’s stock valued at $37,000 after purchasing an additional 933 shares during the period. S.A. Mason LLC raised its stake in shares of GRAIL by 50.1% during the first quarter. S.A. Mason LLC now owns 1,499 shares of the company’s stock worth $38,000 after purchasing an additional 500 shares during the last quarter. NewEdge Advisors LLC lifted its holdings in shares of GRAIL by 390.3% during the first quarter. NewEdge Advisors LLC now owns 1,760 shares of the company’s stock worth $45,000 after purchasing an additional 1,401 shares during the period. Finally, Signaturefd LLC grew its position in GRAIL by 273.0% in the 1st quarter. Signaturefd LLC now owns 1,876 shares of the company’s stock valued at $48,000 after buying an additional 1,373 shares during the last quarter.

GRAIL Stock Up 14.4%

Shares of GRAL opened at $86.41 on Friday. GRAIL, Inc. has a 52-week low of $12.76 and a 52-week high of $89.57. The company has a 50-day simple moving average of $45.29 and a 200-day simple moving average of $39.72. The company has a market capitalization of $3.12 billion, a PE ratio of -6.59 and a beta of 4.11.

GRAIL (NASDAQ:GRAL) last released its quarterly earnings data on Tuesday, August 12th. The company reported ($3.18) EPS for the quarter, missing analysts’ consensus estimates of ($3.14) by ($0.04). GRAIL had a negative return on equity of 16.64% and a negative net margin of 329.86%.The company had revenue of $35.54 million for the quarter, compared to analysts’ expectations of $37.57 million. On average, research analysts anticipate that GRAIL, Inc. will post -15.15 EPS for the current year.

Insider Activity at GRAIL

In related news, President Joshua J. Ofman sold 81,385 shares of GRAIL stock in a transaction on Monday, October 6th. The stock was sold at an average price of $62.50, for a total transaction of $5,086,562.50. Following the completion of the transaction, the president directly owned 396,797 shares of the company’s stock, valued at approximately $24,799,812.50. The trade was a 17.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Robert P. Ragusa sold 7,239 shares of the business’s stock in a transaction on Wednesday, October 15th. The stock was sold at an average price of $68.88, for a total value of $498,622.32. Following the sale, the chief executive officer owned 727,388 shares in the company, valued at approximately $50,102,485.44. The trade was a 0.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 117,497 shares of company stock valued at $7,515,436 over the last ninety days. 1.85% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of GRAIL in a research report on Wednesday, October 8th. Canaccord Genuity Group increased their price target on shares of GRAIL from $43.00 to $75.00 and gave the stock a “buy” rating in a report on Friday, October 3rd. Finally, UBS Group set a $75.00 price objective on shares of GRAIL in a research report on Friday, October 3rd. One analyst has rated the stock with a Buy rating, two have assigned 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 target price of $56.67.

GRAIL Profile

GRAIL, Inc operates as a commercial-stage healthcare company, which engages in the development of a technology for early detection of cancer. It utilizes machine learning, software, and automation to detect and identify multiple deadly cancer types in earlier stages. The company was founded by Jeffrey T.