7,659 Shares in GRAIL, Inc. $GRAL Bought by Man Group plc

Man Group plc acquired a new stake in GRAIL, Inc. (NASDAQ:GRAL) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 7,659 shares of the company’s stock, valued at approximately $523,000.

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

GRAIL Trading Up 0.1%

GRAIL stock opened at $80.62 on Friday. GRAIL, Inc. has a twelve month low of $31.89 and a twelve month high of $118.84. The stock has a 50 day moving average of $72.25 and a two-hundred day moving average of $62.84. The stock has a market capitalization of $3.60 billion, a price-to-earnings ratio of -8.27 and a beta of 3.25.

GRAIL (NASDAQ:GRAL) last announced 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 company had revenue of $44.69 million during the quarter, compared to the consensus estimate of $42.39 million. Equities analysts predict that GRAIL, Inc. will post -10.41 earnings per share for the current year.

Insiders Place Their Bets

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

Analysts Set New Price Targets

A number of research analysts recently issued reports on GRAL shares. Wolfe Research assumed coverage on GRAIL in a research note on Tuesday, June 2nd. They set a “peer perform” rating on the stock. Wall Street Zen upgraded GRAIL from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. TD Cowen reissued a “buy” rating on shares of GRAIL in a report on Wednesday, July 15th. Mizuho lifted their target price on shares of 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 investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, GRAIL presently has an average rating of “Hold” and an average price target of $67.78.

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.