Insider Selling: GRAIL (NASDAQ:GRAL) CEO Sells 37,504 Shares of Stock

GRAIL, Inc. (NASDAQ:GRAL) CEO Robert Ragusa sold 37,504 shares of GRAIL stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $50.17, for a total transaction of $1,881,575.68. Following the sale, the chief executive officer owned 650,525 shares of the company’s stock, valued at approximately $32,636,839.25. The trade was a 5.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

GRAIL Stock Up 0.2%

Shares of NASDAQ:GRAL traded up $0.13 during midday trading on Tuesday, reaching $52.76. The company’s stock had a trading volume of 1,034,912 shares, compared to its average volume of 2,063,515. The stock has a fifty day moving average of $91.27 and a 200 day moving average of $77.46. GRAIL, Inc. has a twelve month low of $20.44 and a twelve month high of $118.84. The firm has a market capitalization of $2.06 billion, a PE ratio of -4.72 and a beta of 5.18.

GRAIL (NASDAQ:GRAL) last posted its quarterly earnings results on Thursday, February 19th. The company reported ($2.44) EPS for the quarter, beating the consensus estimate of ($3.33) by $0.89. The company had revenue of $43.60 million for the quarter, compared to analyst estimates of $43.33 million. GRAIL had a negative net margin of 277.46% and a negative return on equity of 17.58%. Sell-side analysts anticipate that GRAIL, Inc. will post -15.15 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on GRAL shares. Morgan Stanley decreased their price target on GRAIL from $110.00 to $60.00 and set an “equal weight” rating for the company in a report on Tuesday, February 24th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of GRAIL in a report on Thursday, January 22nd. Canaccord Genuity Group decreased their target price on shares of GRAIL from $105.00 to $80.00 and set a “buy” rating for the company in a research note on Friday, February 20th. TD Cowen started coverage on shares of GRAIL in a report on Thursday, February 19th. They set a “hold” rating and a $114.00 price target on the stock. Finally, Robert W. Baird set a $82.00 target price on GRAIL in a research report on Friday, February 20th. Three investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, GRAIL has an average rating of “Hold” and a consensus price target of $90.17.

Institutional Trading of GRAIL

Several institutional investors have recently modified their holdings of GRAL. N.E.W. Advisory Services LLC purchased a new stake in shares of GRAIL during the fourth quarter worth about $26,000. Comerica Bank boosted its holdings in GRAIL by 59.2% in the 3rd quarter. Comerica Bank now owns 465 shares of the company’s stock worth $27,000 after buying an additional 173 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in GRAIL during the 4th quarter worth approximately $28,000. Elyxium Wealth LLC acquired a new position in shares of GRAIL during the fourth quarter valued at approximately $31,000. Finally, Intesa Sanpaolo S.p.A. purchased a new position in shares of GRAIL in the fourth quarter valued at approximately $44,000.

About GRAIL

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.