Alpha Wealth Funds LLC Sells 22,500 Shares of GRAIL, Inc. $GRAL

Key Points

• Alpha Wealth Funds LLC sold 22,500 shares of GRAIL, Inc., reducing its position by 56.3% to hold 17,500 shares, accounting for approximately 0.7% of its investment portfolio.
• GRAIL, Inc. reported a 12-month low of $12.76 and a high of $89.57, with a current stock price of $78.00, reflecting a 9.7% decline.
• CEO Robert P. Ragusa sold 7,239 shares of GRAIL stock at an average price of $68.88, contributing to an overall insider selling activity of 117,497 shares valued at $7.5 million over the past ninety days.

Alpha Wealth Funds LLC reduced its position in GRAIL, Inc. (NASDAQ:GRAL - Free Report) by 56.3% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 17,500 shares of the company's stock after selling 22,500 shares during the period. GRAIL accounts for approximately 0.7% of Alpha Wealth Funds LLC's investment portfolio, making the stock its 18th largest holding. Alpha Wealth Funds LLC's holdings in GRAIL were worth $846,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of GRAIL in the 2nd quarter valued at $226,000. Allianz Asset Management GmbH acquired a new stake in shares of GRAIL in the 2nd quarter valued at $6,164,000. CWM LLC increased its stake in shares of GRAIL by 37.5% in the 2nd quarter. CWM LLC now owns 31,239 shares of the company's stock valued at $1,606,000 after buying an additional 8,524 shares during the period. Concurrent Investment Advisors LLC acquired a new stake in shares of GRAIL in the 2nd quarter valued at $824,000. Finally, Blair William & Co. IL acquired a new stake in shares of GRAIL in the 2nd quarter valued at $262,000.

GRAIL Stock Down 9.7%

Shares of GRAIL stock opened at $78.00 on Friday. GRAIL, Inc. has a 12 month low of $12.76 and a 12 month high of $89.57. The business has a fifty day simple moving average of $46.19 and a 200 day simple moving average of $40.18. The stock has a market cap of $2.81 billion, a PE ratio of -5.95 and a beta of 4.11.

GRAIL (NASDAQ:GRAL - Get Free Report) last announced its quarterly earnings data on Tuesday, August 12th. The company reported ($3.18) EPS for the quarter, missing analysts' consensus estimates of ($3.14) by ($0.04). GRAIL had a negative return on equity of 16.64% and a negative net margin of 329.86%.The company had revenue of $35.54 million for the quarter, compared to analyst estimates of $37.57 million. Analysts expect that GRAIL, Inc. will post -15.15 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Weiss Ratings reissued a "sell (d-)" rating on shares of GRAIL in a research note on Wednesday, October 8th. UBS Group set a $75.00 target price on GRAIL in a research note on Friday, October 3rd. Finally, Canaccord Genuity Group lifted their target price on GRAIL from $43.00 to $75.00 and gave the company a "buy" rating in a research note on Friday, October 3rd. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, GRAIL has a consensus rating of "Hold" and an average price target of $56.67.

Insiders Place Their Bets

In other GRAIL news, CEO Robert P. Ragusa sold 7,239 shares of GRAIL stock in a transaction dated Wednesday, October 15th. The stock was sold at an average price of $68.88, for a total transaction of $498,622.32. Following the transaction, the chief executive officer directly owned 727,388 shares in the company, valued at approximately $50,102,485.44. The trade was a 0.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, President Joshua J. Ofman sold 6,114 shares of GRAIL stock in a transaction dated Thursday, October 16th. The stock was sold at an average price of $82.01, for a total value of $501,409.14. Following the transaction, the president owned 381,818 shares in the company, valued at approximately $31,312,894.18. This represents a 1.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 117,497 shares of company stock valued at $7,515,436. 1.85% of the stock is owned by insiders.

About GRAIL

GRAIL, Inc operates as a commercial-stage healthcare company, which engages in the development of a technology for early detection of cancer. It utilizes machine learning, software, and automation to detect and identify multiple deadly cancer types in earlier stages. The company was founded by Jeffrey T.

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