Cambridge Investment Research Advisors Inc. Sells 8,612 Shares of GRAIL, Inc. (NASDAQ:GRAL)

Cambridge Investment Research Advisors Inc. lessened its position in shares of GRAIL, Inc. (NASDAQ:GRAL - Free Report) by 42.4% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,715 shares of the company's stock after selling 8,612 shares during the period. Cambridge Investment Research Advisors Inc.'s holdings in GRAIL were worth $299,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in GRAL. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of GRAIL in the first quarter valued at approximately $719,000. Caldwell Sutter Capital Inc. acquired a new position in GRAIL during the first quarter valued at approximately $28,000. Pallas Capital Advisors LLC acquired a new position in GRAIL during the first quarter valued at approximately $257,000. Wesbanco Bank Inc. raised its position in GRAIL by 9.2% during the first quarter. Wesbanco Bank Inc. now owns 32,000 shares of the company's stock valued at $817,000 after purchasing an additional 2,700 shares in the last quarter. Finally, Merit Financial Group LLC acquired a new position in GRAIL during the first quarter valued at approximately $206,000.

GRAIL Stock Down 5.0%

Shares of NASDAQ:GRAL traded down $1.92 during trading on Wednesday, hitting $36.61. 1,939,673 shares of the company were exchanged, compared to its average volume of 1,182,698. The business's 50 day moving average is $41.78 and its 200-day moving average is $33.94. The company has a market capitalization of $1.32 billion and a P/E ratio of -0.60. GRAIL, Inc. has a 1-year low of $12.33 and a 1-year high of $63.99.

GRAIL (NASDAQ:GRAL - Get Free Report) last announced its quarterly earnings results on Tuesday, May 13th. The company reported ($3.10) earnings per share (EPS) for the quarter, topping the consensus estimate of ($4.03) by $0.93. The company had revenue of $31.84 million during the quarter, compared to the consensus estimate of $35.80 million. GRAIL had a negative net margin of 1,464.53% and a negative return on equity of 17.99%. As a group, sell-side analysts anticipate that GRAIL, Inc. will post -15.15 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have commented on GRAL shares. Morgan Stanley boosted their price objective on shares of GRAIL from $16.00 to $20.00 and gave the company an "equal weight" rating in a research report on Tuesday, March 18th. Canaccord Genuity Group boosted their price objective on shares of GRAIL from $32.00 to $43.00 and gave the company a "buy" rating in a research report on Wednesday, May 14th.

Insider Activity at GRAIL

In related news, CFO Aaron Freidin sold 41,150 shares of the business's stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $33.93, for a total value of $1,396,219.50. Following the sale, the chief financial officer owned 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, President Joshua J. Ofman sold 48,213 shares of the business's stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $33.93, for a total transaction of $1,635,867.09. Following the completion of the sale, the president directly owned 511,460 shares in the company, valued at approximately $17,353,837.80. This represents a 8.61% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 532,890 shares of company stock valued at $23,556,972 over the last three months.

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.