Jupiter Topco LLC Purchases Shares of 16,000 GRAIL, Inc. $GRAL

Jupiter Topco LLC acquired a new position in GRAIL, Inc. (NASDAQ:GRAL) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 16,000 shares of the company’s stock, valued at approximately $1,091,000.

Other hedge funds also recently made changes to their positions in the company. Royal Bank of Canada raised its holdings in shares of GRAIL by 17.7% in the 1st quarter. Royal Bank of Canada now owns 88,082 shares of the company’s stock worth $2,250,000 after purchasing an additional 13,264 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in GRAIL by 28.2% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,835 shares of the company’s stock worth $76,000 after buying an additional 623 shares in the last quarter. NewEdge Advisors LLC grew its position in GRAIL by 390.3% in the first quarter. NewEdge Advisors LLC now owns 1,760 shares of the company’s stock worth $45,000 after buying an additional 1,401 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in GRAIL by 37.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 92,465 shares of the company’s stock worth $2,362,000 after buying an additional 25,177 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in shares of GRAIL by 115.7% in the second quarter. JPMorgan Chase & Co. now owns 79,544 shares of the company’s stock valued at $4,090,000 after buying an additional 42,675 shares in the last quarter.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on GRAL shares. TD Cowen reiterated a “buy” rating on shares of GRAIL in a research report on Wednesday, July 15th. Wolfe Research initiated coverage on GRAIL in a report on Tuesday, June 2nd. They issued a “peer perform” rating on the stock. Wall Street Zen lowered GRAIL from a “hold” rating to a “sell” rating in a research report on Saturday. Mizuho upped their target price on GRAIL from $58.00 to $65.00 and gave the company a “neutral” rating in a report on Wednesday, July 15th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of GRAIL in a research report on Friday, July 17th. Four research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $67.78.

Insiders Place Their Bets

In other news, CFO Aaron Freidin sold 7,900 shares of the firm’s stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $85.01, for a total value of $671,579.00. Following the completion of the sale, the chief financial officer owned 253,083 shares of the company’s stock, valued at $21,514,585.83. This trade represents a 3.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Joshua Ofman sold 5,000 shares of GRAIL stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $85.02, for a total value of $425,100.00. Following the transaction, the chief executive officer owned 397,271 shares in the company, valued at $33,775,980.42. This represents a 1.24% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.83% of the stock is owned by corporate insiders.

GRAIL Price Performance

GRAL stock opened at $80.34 on Friday. The firm has a market capitalization of $3.59 billion, a P/E ratio of -8.24 and a beta of 3.25. GRAIL, Inc. has a 52-week low of $33.61 and a 52-week high of $118.84. The company’s 50 day simple moving average is $72.54 and its 200-day simple moving average is $62.97.

GRAIL (NASDAQ:GRAL) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($2.56) EPS for the quarter, topping analysts’ consensus estimates of ($2.66) by $0.10. GRAIL had a negative net margin of 236.95% and a negative return on equity of 15.88%. The firm had revenue of $44.69 million during the quarter, compared to analyst estimates of $42.39 million. Sell-side analysts predict that GRAIL, Inc. will post -10.41 EPS for the current fiscal year.

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.