Geode Capital Management LLC Buys 71,253 Shares of GRAIL, Inc. $GRAL

Geode Capital Management LLC raised its stake in shares of GRAIL, Inc. (NASDAQ:GRAL) by 9.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 801,503 shares of the company’s stock after acquiring an additional 71,253 shares during the period. Geode Capital Management LLC’s holdings in GRAIL were worth $68,609,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of GRAL. N.E.W. Advisory Services LLC bought a new position in GRAIL during the 4th quarter valued at $26,000. Comerica Bank lifted its stake in GRAIL by 59.2% during the 3rd quarter. Comerica Bank now owns 465 shares of the company’s stock valued at $27,000 after acquiring an additional 173 shares in the last quarter. Elyxium Wealth LLC bought a new position in GRAIL during the 4th quarter valued at $31,000. NewEdge Advisors LLC lifted its stake in GRAIL by 390.3% during the 1st quarter. NewEdge Advisors LLC now owns 1,760 shares of the company’s stock valued at $45,000 after acquiring an additional 1,401 shares in the last quarter. Finally, Rossby Financial LCC bought a new position in GRAIL during the 3rd quarter valued at $62,000.

Insider Transactions at GRAIL

In other GRAIL news, President Joshua J. Ofman sold 61,665 shares of the firm’s stock in a transaction dated Wednesday, April 8th. The stock was sold at an average price of $49.92, for a total value of $3,078,316.80. Following the completion of the transaction, the president owned 371,216 shares in the company, valued at $18,531,102.72. This trade represents a 14.25% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Robert P. Ragusa sold 123,502 shares of the firm’s stock in a transaction dated Wednesday, April 8th. The stock was sold at an average price of $49.92, for a total value of $6,165,219.84. Following the completion of the transaction, the chief executive officer owned 518,582 shares of the company’s stock, valued at approximately $25,887,613.44. This represents a 19.23% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 232,464 shares of company stock worth $11,621,242. Insiders own 1.83% of the company’s stock.

GRAIL Stock Performance

Shares of GRAL opened at $61.52 on Tuesday. The business has a 50-day moving average of $57.45 and a 200 day moving average of $75.28. GRAIL, Inc. has a fifty-two week low of $29.95 and a fifty-two week high of $118.84. The firm has a market cap of $2.64 billion, a P/E ratio of -5.93 and a beta of 3.15.

GRAIL (NASDAQ:GRAL) last announced its quarterly earnings data on Tuesday, May 5th. The company reported ($2.29) earnings per share for the quarter, topping the consensus estimate of ($2.76) by $0.47. GRAIL had a negative return on equity of 16.42% and a negative net margin of 253.22%.The company had revenue of $40.79 million during the quarter, compared to analyst estimates of $39.16 million. As a group, research analysts predict that GRAIL, Inc. will post -10.99 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on GRAL. Wolfe Research began coverage on GRAIL in a research report on Tuesday, June 2nd. They set a “peer perform” rating for the company. Piper Sandler raised their target price on GRAIL from $54.00 to $56.00 and gave the company a “neutral” rating in a research report on Wednesday, May 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of GRAIL in a research report on Tuesday, April 21st. Canaccord Genuity Group decreased their target price on GRAIL from $105.00 to $80.00 and set a “buy” rating for the company in a research report on Friday, February 20th. Finally, TD Cowen raised their target price on GRAIL from $65.00 to $69.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Four research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $67.00.

GRAIL Profile

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.