Alpha Wealth Funds LLC Sells 103,547 Shares of Grail, Inc. (NASDAQ:GRAL)

Alpha Wealth Funds LLC reduced its stake in Grail, Inc. (NASDAQ:GRAL - Free Report) by 72.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 40,000 shares of the company's stock after selling 103,547 shares during the period. Grail accounts for approximately 1.0% of Alpha Wealth Funds LLC's holdings, making the stock its 12th biggest position. Alpha Wealth Funds LLC owned approximately 0.12% of Grail worth $1,022,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Crcm LP bought a new stake in shares of Grail in the 4th quarter valued at approximately $65,061,000. Sessa Capital IM L.P. acquired a new stake in Grail in the 4th quarter valued at $53,550,000. Primecap Management Co. CA acquired a new stake in shares of Grail during the 4th quarter worth about $37,118,000. Baker BROS. Advisors LP acquired a new stake in Grail in the 4th quarter valued at about $29,098,000. Finally, Vanguard Group Inc. acquired a new position in shares of Grail during the fourth quarter valued at $25,902,000.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Canaccord Genuity Group increased their price target on Grail from $32.00 to $43.00 and gave the company a "buy" rating in a research note on Wednesday, May 14th. Morgan Stanley raised their target price on Grail from $16.00 to $20.00 and gave the stock an "equal weight" rating in a report on Tuesday, March 18th.

Grail Price Performance

GRAL traded down $1.59 during mid-day trading on Friday, hitting $37.90. The stock had a trading volume of 1,502,849 shares, compared to its average volume of 1,447,989. Grail, Inc. has a 1-year low of $12.33 and a 1-year high of $63.99. The firm has a market capitalization of $1.36 billion and a price-to-earnings ratio of -0.62. The stock's fifty day simple moving average is $32.98 and its 200-day simple moving average is $28.97.

Grail (NASDAQ:GRAL - Get Free Report) last released its earnings results on Tuesday, May 13th. The company reported ($3.10) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($4.03) by $0.93. The firm had revenue of $31.84 million for the quarter, compared to the consensus estimate of $35.80 million. As a group, research analysts expect that Grail, Inc. will post -15.15 earnings per share for the current fiscal year.

Insider Activity

In other Grail news, CFO Aaron Freidin sold 41,150 shares of Grail stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $33.93, for a total transaction of $1,396,219.50. Following the completion of the transaction, the chief financial officer now directly owns 294,020 shares of the company's stock, valued at $9,976,098.60. The trade was a 12.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Robert P. Ragusa sold 94,035 shares of the business's stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $33.93, for a total value of $3,190,607.55. Following the sale, the chief executive officer now owns 734,627 shares of the company's stock, valued at approximately $24,925,894.11. This represents a 11.35% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 183,398 shares of company stock valued at $6,222,694. 1.85% of the stock is owned by company insiders.

Grail Profile

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.