Cerity Partners LLC Purchases Shares of 15,442 GRAIL, Inc. (NASDAQ:GRAL)

Key Points

• Cerity Partners LLC has acquired 15,442 shares of GRAIL, Inc., with a total value of approximately $394,000, as indicated in its recent SEC filing.
• Analysts at Canaccord Genuity Group have increased their price target for GRAIL from $32.00 to $43.00 and assigned the company a "buy" rating.
• GRAIL recently reported an earnings per share (EPS) of ($3.10), exceeding analysts' expectations of ($4.03) for the quarter, despite lower than anticipated revenue.

Cerity Partners LLC acquired a new position in shares of GRAIL, Inc. (NASDAQ:GRAL - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 15,442 shares of the company's stock, valued at approximately $394,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Sessa Capital IM L.P. bought a new stake in GRAIL in the 4th quarter worth approximately $53,550,000. Baker BROS. Advisors LP purchased a new position in shares of GRAIL in the fourth quarter worth about $29,098,000. Vanguard Group Inc. bought a new stake in shares of GRAIL in the 4th quarter valued at about $25,902,000. Jacobs Levy Equity Management Inc. purchased a new stake in GRAIL during the 4th quarter valued at about $18,209,000. Finally, AQR Capital Management LLC bought a new position in GRAIL during the 4th quarter worth approximately $14,828,000.

Analysts Set New Price Targets

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

GRAIL Stock Up 1.4%

Shares of GRAIL stock opened at $40.29 on Friday. The company's fifty day simple moving average is $41.84 and its two-hundred day simple moving average is $35.00. GRAIL, Inc. has a 12-month low of $12.33 and a 12-month high of $63.99. The firm has a market cap of $1.45 billion and a PE ratio of -0.66.

GRAIL (NASDAQ:GRAL - Get Free Report) last posted its 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 for the quarter, compared to analysts' expectations of $35.80 million. GRAIL had a negative return on equity of 17.99% and a negative net margin of 1,464.53%. As a group, sell-side analysts expect that GRAIL, Inc. will post -15.15 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, 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 transaction of $3,190,607.55. Following the transaction, the chief executive officer directly owned 734,627 shares of the company's stock, valued at approximately $24,925,894.11. The trade was a 11.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Aaron Freidin sold 8,000 shares of the firm's stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $38.93, for a total value of $311,440.00. Following the completion of the sale, the chief financial officer directly owned 286,020 shares of the company's stock, valued at $11,134,758.60. The trade was a 2.72% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 540,890 shares of company stock valued at $23,868,412 in the last 90 days. 1.85% of the stock is owned by corporate 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.

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