BIT Capital GmbH Takes Position in GRAIL, Inc. $GRAL

BIT Capital GmbH bought a new stake in GRAIL, Inc. (NASDAQ:GRAL) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 156,263 shares of the company’s stock, valued at approximately $13,375,000.

A number of other hedge funds have also modified their holdings of the business. Parallel Advisors LLC raised its position in shares of GRAIL by 5.2% in the fourth quarter. Parallel Advisors LLC now owns 2,667 shares of the company’s stock valued at $228,000 after buying an additional 133 shares during the last quarter. State of Wyoming raised its position in shares of GRAIL by 39.6% in the fourth quarter. State of Wyoming now owns 4,149 shares of the company’s stock valued at $355,000 after buying an additional 1,178 shares during the last quarter. CIBC Asset Management Inc raised its position in shares of GRAIL by 64.9% in the fourth quarter. CIBC Asset Management Inc now owns 7,556 shares of the company’s stock valued at $647,000 after buying an additional 2,973 shares during the last quarter. Welch & Forbes LLC acquired a new stake in shares of GRAIL in the fourth quarter valued at about $266,000. Finally, Norges Bank acquired a new stake in GRAIL during the fourth quarter worth about $761,000.

GRAIL Price Performance

Shares of GRAL opened at $59.98 on Friday. GRAIL, Inc. has a 1-year low of $29.95 and a 1-year high of $118.84. The stock has a market cap of $2.57 billion, a PE ratio of -5.78 and a beta of 3.15. The firm has a 50-day simple moving average of $57.27 and a two-hundred day simple moving average of $75.49.

GRAIL (NASDAQ:GRAL) last announced its quarterly earnings results on Tuesday, May 5th. The company reported ($2.29) earnings per share for the quarter, beating analysts’ consensus estimates of ($2.76) by $0.47. GRAIL had a negative net margin of 253.22% and a negative return on equity of 16.42%. The business had revenue of $40.79 million during the quarter, compared to analysts’ expectations of $39.16 million. As a group, sell-side analysts expect that GRAIL, Inc. will post -10.99 earnings per share for the current fiscal year.

Analyst Ratings Changes

GRAL has been the topic of a number of analyst reports. Mizuho initiated coverage on shares of GRAIL in a research note on Friday, April 10th. They set a “neutral” rating and a $58.00 target price on the stock. Morgan Stanley reduced their target price on shares of GRAIL from $110.00 to $60.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 24th. Wolfe Research initiated coverage on shares of GRAIL in a research note on Tuesday. They set a “peer perform” rating on the stock. Guggenheim reduced their target price on shares of GRAIL from $130.00 to $75.00 and set a “buy” rating on the stock in a research note on Monday, March 30th. 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 note on Wednesday, May 6th. Four equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, GRAIL currently has an average rating of “Hold” and a consensus price target of $67.00.

Insider Buying and Selling at GRAIL

In related news, President Joshua J. Ofman sold 61,665 shares of GRAIL stock in a transaction that occurred on Wednesday, April 8th. The shares were 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 in the company, valued at approximately $18,531,102.72. The trade was a 14.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Andrew John Partridge sold 1,491 shares of GRAIL stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $61.08, for a total transaction of $91,070.28. Following the completion of the transaction, the insider owned 163,738 shares of the company’s stock, valued at $10,001,117.04. This trade represents a 0.90% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 245,354 shares of company stock worth $12,238,545. 1.83% of the stock is currently owned by company 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.