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

Cambridge Investment Research Advisors Inc. decreased its holdings in GRAIL, Inc. (NASDAQ:GRAL - Free Report) by 42.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund 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 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Sessa Capital IM L.P. bought a new stake in GRAIL during the 4th quarter worth $53,550,000. Primecap Management Co. CA bought a new stake in GRAIL during the 4th quarter worth $37,118,000. Baker BROS. Advisors LP bought a new stake in GRAIL during the 4th quarter worth $29,098,000. Vanguard Group Inc. acquired a new position in GRAIL during the 4th quarter worth about $25,902,000. Finally, Jacobs Levy Equity Management Inc. acquired a new position in GRAIL during the 4th quarter worth about $18,209,000.

Analyst Ratings Changes

Several research analysts have commented on GRAL shares. Morgan Stanley lifted 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. Canaccord Genuity Group lifted their target price on GRAIL from $32.00 to $43.00 and gave the stock a "buy" rating in a report on Wednesday, May 14th.

GRAIL Stock Down 6.1%

GRAL traded down $2.66 during midday trading on Friday, hitting $40.73. 766,643 shares of the company were exchanged, compared to its average volume of 1,181,230. The firm has a market capitalization of $1.47 billion and a P/E ratio of -0.67. GRAIL, Inc. has a 1-year low of $12.33 and a 1-year high of $63.99. The firm's 50 day moving average price is $41.54 and its 200-day moving average price is $33.66.

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

Insiders Place Their Bets

In other news, President Joshua J. Ofman sold 48,213 shares of the business's stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $33.93, for a total value of $1,635,867.09. Following the transaction, the president directly owned 511,460 shares of the company's stock, valued at $17,353,837.80. The trade was a 8.61% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Robert P. Ragusa sold 94,035 shares of the business's stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $33.93, for a total value of $3,190,607.55. Following the completion of the transaction, the chief executive officer directly owned 734,627 shares in the company, valued at $24,925,894.11. This represents a 11.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 532,890 shares of company stock valued at $23,556,972 over the last 90 days. 1.85% of the stock is owned by company insiders.

GRAIL Company 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.