Legal Advantage Investments Inc. Acquires New Shares in GRAIL, Inc. $GRAL

Legal Advantage Investments Inc. acquired a new position in shares of GRAIL, Inc. (NASDAQ:GRAL) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 21,000 shares of the company’s stock, valued at approximately $1,242,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Perigon Wealth Management LLC increased its holdings in shares of GRAIL by 8.9% in the third quarter. Perigon Wealth Management LLC now owns 19,317 shares of the company’s stock worth $1,142,000 after acquiring an additional 1,582 shares in the last quarter. 180 Wealth Advisors LLC increased its stake in GRAIL by 4.7% during the 3rd quarter. 180 Wealth Advisors LLC now owns 118,861 shares of the company’s stock worth $7,028,000 after purchasing an additional 5,313 shares in the last quarter. Carnegie Investment Counsel increased its stake in GRAIL by 48.1% during the 3rd quarter. Carnegie Investment Counsel now owns 245,315 shares of the company’s stock worth $14,505,000 after purchasing an additional 79,630 shares in the last quarter. Sheets Smith Wealth Management acquired a new stake in GRAIL during the 3rd quarter worth approximately $512,000. Finally, Exchange Traded Concepts LLC lifted its stake in GRAIL by 15.4% in the third quarter. Exchange Traded Concepts LLC now owns 16,248 shares of the company’s stock valued at $961,000 after buying an additional 2,163 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on GRAL. Guggenheim raised shares of GRAIL from a “neutral” rating to a “buy” rating and set a $100.00 price objective for the company in a research report on Wednesday, November 12th. Canaccord Genuity Group upped their target price on shares of GRAIL from $85.00 to $105.00 and gave the stock a “buy” rating in a research note on Monday, November 17th. UBS Group set a $75.00 target price on GRAIL in a report on Friday, October 3rd. Morgan Stanley boosted their price target on GRAIL from $85.00 to $110.00 and gave the company an “equal weight” rating in a report on Monday, December 1st. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of GRAIL in a research report on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, GRAIL has a consensus rating of “Hold” and a consensus target price of $97.50.

GRAIL Stock Down 4.1%

GRAL opened at $87.88 on Tuesday. The stock has a market cap of $3.43 billion, a price-to-earnings ratio of -7.56 and a beta of 4.22. GRAIL, Inc. has a 12-month low of $16.56 and a 12-month high of $115.76. The business has a 50 day moving average of $91.22 and a 200-day moving average of $60.81.

GRAIL (NASDAQ:GRAL) last posted its quarterly earnings results on Wednesday, November 12th. The company reported ($2.46) earnings per share for the quarter, beating analysts’ consensus estimates of ($3.40) by $0.94. GRAIL had a negative return on equity of 15.69% and a negative net margin of 286.43%.The business had revenue of $36.19 million for the quarter, compared to analysts’ expectations of $33.83 million. As a group, analysts expect that GRAIL, Inc. will post -15.15 earnings per share for the current year.

Insider Activity

In other GRAIL news, CEO Robert P. Ragusa sold 7,239 shares of the stock in a transaction dated Wednesday, October 15th. The shares were sold at an average price of $68.88, for a total value of $498,622.32. Following the transaction, the chief executive officer directly owned 727,388 shares of the company’s stock, valued at $50,102,485.44. This represents a 0.99% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Joshua J. Ofman sold 81,385 shares of the firm’s stock in a transaction that occurred 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 sale, the president owned 396,797 shares of the company’s stock, valued at $24,799,812.50. This trade represents a 17.02% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 113,295 shares of company stock worth $7,380,888 over the last three months.

GRAIL Company 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.