Handelsbanken Fonder AB Invests $805,000 in GRAIL, Inc. $GRAL

Handelsbanken Fonder AB bought a new position in shares of GRAIL, Inc. (NASDAQ:GRAL) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 9,400 shares of the company’s stock, valued at approximately $805,000.

Other institutional investors also recently modified their holdings of the company. Royal Bank of Canada lifted its holdings in GRAIL by 17.7% in the first quarter. Royal Bank of Canada now owns 88,082 shares of the company’s stock worth $2,250,000 after buying an additional 13,264 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in GRAIL by 28.2% in 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 during the period. NewEdge Advisors LLC lifted its holdings 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 period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of GRAIL by 37.4% during 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 valued at $2,362,000 after purchasing an additional 25,177 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of GRAIL by 115.7% during the second quarter. JPMorgan Chase & Co. now owns 79,544 shares of the company’s stock valued at $4,090,000 after purchasing an additional 42,675 shares in the last quarter.

GRAIL Price Performance

Shares of GRAIL stock opened at $71.42 on Thursday. The company’s fifty day simple moving average is $54.94 and its 200-day simple moving average is $76.29. The stock has a market capitalization of $3.07 billion, a PE ratio of -6.89 and a beta of 3.03. GRAIL, Inc. has a 1-year low of $29.95 and a 1-year high of $118.84.

GRAIL (NASDAQ:GRAL) last issued its quarterly earnings results 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. The business had revenue of $40.79 million for the quarter, compared to analysts’ expectations of $39.16 million. GRAIL had a negative net margin of 253.22% and a negative return on equity of 16.42%. As a group, research analysts anticipate that GRAIL, Inc. will post -10.91 EPS for the current year.

Wall Street Analysts Forecast Growth

GRAL has been the subject of several analyst reports. Canaccord Genuity Group reduced their price target on shares of GRAIL from $105.00 to $80.00 and set a “buy” rating for the company in a research report on Friday, February 20th. Morgan Stanley cut their target price on shares of GRAIL from $110.00 to $60.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 24th. Mizuho assumed coverage on shares of GRAIL in a research report on Friday, April 10th. They issued a “neutral” rating and a $58.00 target price for the company. Wall Street Zen raised shares of GRAIL from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, Piper Sandler lifted their target price on shares of GRAIL from $54.00 to $56.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 6th. Four investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, GRAIL has a consensus rating of “Hold” and a consensus target price of $67.88.

Insider Activity at GRAIL

In other news, President Joshua J. Ofman sold 61,665 shares of the company’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 of the company’s stock, valued at $18,531,102.72. This represents a 14.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Robert P. Ragusa sold 123,502 shares of the company’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 directly owned 518,582 shares of the company’s stock, valued at approximately $25,887,613.44. This trade represents a 19.23% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 310,267 shares of company stock worth $15,485,396. 1.83% of the stock is owned by corporate insiders.

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.