2,180,106 Shares in GRAIL, Inc. $GRAL Acquired by Primecap Management Co. CA

Key Points

• Primecap Management acquired 2.18 million GRAIL shares worth approximately $148.8 million, giving it a 4.88% stake in the biotechnology company.
• Analysts maintain a cautious outlook, with a consensus “Hold” rating and an average price target of $67.78; ratings include four Buys, five Holds, and one Sell.
• GRAIL reported quarterly revenue of $44.69 million and an adjusted loss of $2.56 per share, slightly exceeding analyst expectations, but it remains unprofitable with a negative net margin and analysts projecting a full-year loss.

Primecap Management Co. CA bought a new position in GRAIL, Inc. (NASDAQ:GRAL - Free Report) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 2,180,106 shares of the company's stock, valued at approximately $148,836,000. Primecap Management Co. CA owned 4.88% of GRAIL at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GRAL. Fifth Third Bancorp boosted its stake in shares of GRAIL by 15,733.3% during the first quarter. Fifth Third Bancorp now owns 475 shares of the company's stock valued at $25,000 after purchasing an additional 472 shares in the last quarter. Comerica Bank raised its holdings in GRAIL by 59.2% in the third quarter. Comerica Bank now owns 465 shares of the company's stock worth $27,000 after purchasing an additional 173 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in shares of GRAIL in the 4th quarter valued at about $28,000. Geneos Wealth Management Inc. raised its stake in shares of GRAIL by 160.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 585 shares of the company's stock worth $30,000 after acquiring an additional 360 shares in the last quarter. Finally, Elyxium Wealth LLC acquired a new stake in GRAIL in the fourth quarter valued at approximately $31,000.

Analyst Upgrades and Downgrades

GRAL has been the subject of a number of research analyst reports. Wall Street Zen raised shares of GRAIL from a "sell" rating to a "hold" rating in a report on Saturday, May 9th. The Goldman Sachs Group assumed coverage on shares of GRAIL in a report on Friday, June 5th. They set a "neutral" rating and a $60.00 price target on the stock. Mizuho increased their target price on shares of GRAIL from $58.00 to $65.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 15th. Piper Sandler upped their price target on GRAIL from $54.00 to $56.00 and gave the stock a "neutral" rating in a report on Wednesday, May 6th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of GRAIL in a research note on Friday, July 17th. Four analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $67.78.

GRAIL Stock Performance

NASDAQ GRAL opened at $82.54 on Wednesday. The business has a fifty day moving average price of $69.83 and a 200 day moving average price of $63.76. GRAIL, Inc. has a one year low of $30.82 and a one year high of $118.84. The company has a market cap of $3.69 billion, a P/E ratio of -8.47 and a beta of 3.24.

GRAIL (NASDAQ:GRAL - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The company reported ($2.56) earnings per share for the quarter, beating analysts' consensus estimates of ($2.66) by $0.10. GRAIL had a negative return on equity of 15.88% and a negative net margin of 236.95%.The company had revenue of $44.69 million for the quarter, compared to analyst estimates of $42.39 million. As a group, sell-side analysts predict that GRAIL, Inc. will post -10.41 EPS for the current fiscal year.

Insider Buying and Selling at GRAIL

In other news, insider Andrew John Partridge sold 1,491 shares of the firm's stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $61.08, for a total value of $91,070.28. Following the transaction, the insider directly owned 163,738 shares of the company's stock, valued at approximately $10,001,117.04. This trade represents a 0.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 1.83% of the company's stock.

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.

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