15,442 Shares in GRAIL, Inc. (NASDAQ:GRAL) Purchased by Cerity Partners LLC

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 stake in GRAIL, Inc. (NASDAQ:GRAL - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 15,442 shares of the company's stock, valued at approximately $394,000.

A number of other hedge funds have also modified their holdings of GRAL. State of Tennessee Department of Treasury purchased a new stake in shares of GRAIL in the fourth quarter worth about $28,000. Caldwell Sutter Capital Inc. purchased a new stake in GRAIL during the first quarter worth $28,000. Sterling Capital Management LLC purchased a new stake in GRAIL during the fourth quarter worth $29,000. KBC Group NV grew its position in GRAIL by 187.7% during the first quarter. KBC Group NV now owns 1,430 shares of the company's stock valued at $37,000 after buying an additional 933 shares during the period. Finally, S.A. Mason LLC increased its holdings in GRAIL by 50.1% in the first quarter. S.A. Mason LLC now owns 1,499 shares of the company's stock valued at $38,000 after buying an additional 500 shares in the last quarter.

GRAIL Trading Down 1.0%

GRAIL stock traded down $0.35 during trading on Wednesday, hitting $33.77. The company had a trading volume of 844,500 shares, compared to its average volume of 1,036,312. The stock has a market cap of $1.21 billion and a price-to-earnings ratio of -0.55. GRAIL, Inc. has a 1-year low of $12.33 and a 1-year high of $63.99. The company's 50 day simple moving average is $41.67 and its 200-day simple moving average is $35.25.

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

Insider Buying and Selling

In other news, CFO Aaron Freidin sold 41,150 shares of the 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 $1,396,219.50. Following the completion of the transaction, the chief financial officer directly owned 294,020 shares of the company's stock, valued at approximately $9,976,098.60. This represents a 12.28% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Robert P. Ragusa sold 94,035 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 transaction of $3,190,607.55. Following the completion of the sale, the chief executive officer 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. In the last ninety days, insiders sold 540,890 shares of company stock worth $23,868,412. Corporate insiders own 1.85% of the company's stock.

Analyst Ratings Changes

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

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.