GRAIL, Inc. $GRAL Position Raised by Carnegie Investment Counsel

Carnegie Investment Counsel boosted its position in GRAIL, Inc. (NASDAQ:GRAL) by 48.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 245,315 shares of the company’s stock after purchasing an additional 79,630 shares during the period. Carnegie Investment Counsel’s holdings in GRAIL were worth $14,505,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. Farther Finance Advisors LLC lifted its holdings in shares of GRAIL by 768.1% in the second quarter. Farther Finance Advisors LLC now owns 816 shares of the company’s stock valued at $42,000 after buying an additional 722 shares during the period. NewEdge Advisors LLC raised 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 acquiring an additional 1,401 shares in the last quarter. Quarry LP lifted its holdings in GRAIL by 1,965.4% in the 1st quarter. Quarry LP now owns 2,148 shares of the company’s stock valued at $55,000 after acquiring an additional 2,044 shares during the last quarter. Roble Belko & Company Inc bought a new position in shares of GRAIL during the 2nd quarter valued at about $68,000. Finally, Cypress Capital Management LLC WY acquired a new position in shares of GRAIL in the 2nd quarter worth approximately $72,000.

Insider Activity at GRAIL

In other news, President Joshua J. Ofman sold 81,385 shares of the company’s stock in a transaction on Monday, October 6th. The shares were sold at an average price of $62.50, for a total value of $5,086,562.50. Following the transaction, the president directly owned 396,797 shares of the company’s stock, valued at approximately $24,799,812.50. This represents a 17.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Robert P. Ragusa sold 7,239 shares of the 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 of the company’s stock, valued at approximately $50,102,485.44. This represents a 0.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 113,295 shares of company stock worth $7,380,888. Company insiders own 1.85% of the company’s stock.

GRAIL Trading Down 0.3%

Shares of GRAIL stock opened at $91.59 on Friday. GRAIL, Inc. has a 1 year low of $16.56 and a 1 year high of $115.76. The company has a market cap of $3.57 billion, a P/E ratio of -7.88 and a beta of 4.23. The stock has a 50-day moving average price of $91.30 and a 200 day moving average price of $60.25.

GRAIL (NASDAQ:GRAL) last issued its 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. The company had revenue of $36.19 million for the quarter, compared to the consensus estimate of $33.83 million. GRAIL had a negative return on equity of 15.69% and a negative net margin of 286.43%. On average, equities analysts forecast that GRAIL, Inc. will post -15.15 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

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.