Bank of New York Mellon Corp Sells 25,383 Shares of GRAIL, Inc. (NASDAQ:GRAL)

Bank of New York Mellon Corp trimmed its holdings in GRAIL, Inc. (NASDAQ:GRAL - Free Report) by 7.2% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 325,431 shares of the company's stock after selling 25,383 shares during the period. Bank of New York Mellon Corp owned 0.92% of GRAIL worth $8,311,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in GRAL. Sessa Capital IM L.P. bought a new stake in shares of GRAIL during the 4th quarter worth $53,550,000. Baker BROS. Advisors LP bought a new stake in shares of GRAIL during the 4th quarter worth $29,098,000. Vanguard Group Inc. bought a new stake in shares of GRAIL during the 4th quarter worth $25,902,000. Jacobs Levy Equity Management Inc. bought a new stake in shares of GRAIL during the 4th quarter worth $18,209,000. Finally, AQR Capital Management LLC bought a new stake in GRAIL in the 4th quarter valued at $14,828,000.

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group increased their price target on shares of GRAIL from $32.00 to $43.00 and gave the company a "buy" rating in a report on Wednesday, May 14th.

GRAIL Stock Performance

Shares of GRAL stock traded up $0.57 during mid-day trading on Friday, reaching $40.29. The company's stock had a trading volume of 551,688 shares, compared to its average volume of 1,320,343. GRAIL, Inc. has a 1-year low of $12.33 and a 1-year high of $63.99. The company has a market cap of $1.45 billion and a P/E ratio of -0.66. The firm's 50-day moving average is $41.84 and its two-hundred day moving average is $35.00.

GRAIL (NASDAQ:GRAL - Get Free Report) last announced 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 business had revenue of $31.84 million during the quarter, compared to analysts' expectations of $35.80 million. GRAIL had a negative net margin of 1,464.53% and a negative return on equity of 17.99%. Sell-side analysts anticipate that GRAIL, Inc. will post -15.15 EPS for the current year.

Insider Activity at GRAIL

In other GRAIL news, CEO Robert P. Ragusa sold 94,035 shares of the stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $33.93, for a total transaction of $3,190,607.55. Following the sale, the chief executive officer owned 734,627 shares of the company's stock, valued at $24,925,894.11. This represents a 11.35% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Aaron Freidin sold 8,000 shares of the stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $38.93, for a total transaction of $311,440.00. Following the sale, the chief financial officer directly owned 286,020 shares in the company, valued at approximately $11,134,758.60. This represents a 2.72% decrease in their position. The disclosure for this sale can be found here. Insiders sold 540,890 shares of company stock worth $23,868,412 in the last quarter. Insiders own 1.85% of the company's stock.

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.