Crcm LP Has $108.96 Million Holdings in GRAIL, Inc. $GRAL

Key Points

• Crcm LP cut its holdings in GRAIL, Inc. by 49.4% in Q3, leaving 1,842,651 shares valued at $108.96 million — about 5.11% of GRAIL and roughly 29.1% of Crcm's portfolio (its second-largest position).
• Analysts are mixed: MarketBeat shows a consensus rating of Hold with a $90.17 price target, while recent individual targets and ratings range widely (about $60 to $114) and include buys, holds and a sell.
• Insiders have trimmed positions recently — President Joshua J. Ofman and CFO Aaron Freidin sold 17,002 and 9,573 shares respectively on March 2 (around $50.16/share), and insiders sold 64,079 shares worth $3.21 million over the past 90 days.

Crcm LP cut its holdings in GRAIL, Inc. (NASDAQ:GRAL - Free Report) by 49.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,842,651 shares of the company's stock after selling 1,802,204 shares during the quarter. GRAIL accounts for approximately 29.1% of Crcm LP's investment portfolio, making the stock its 2nd largest position. Crcm LP owned 5.11% of GRAIL worth $108,956,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of GRAL. Rossby Financial LCC purchased a new position in shares of GRAIL in the 3rd quarter worth $62,000. Atlantic Union Bankshares Corp purchased a new stake in shares of GRAIL during the 3rd quarter valued at about $64,000. Cypress Capital Management LLC WY bought a new position in shares of GRAIL in the 2nd quarter valued at about $72,000. NewEdge Advisors LLC grew its position in GRAIL by 390.3% in the first quarter. NewEdge Advisors LLC now owns 1,760 shares of the company's stock worth $45,000 after acquiring an additional 1,401 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in GRAIL by 278.8% in the second quarter. EverSource Wealth Advisors LLC now owns 2,288 shares of the company's stock worth $118,000 after acquiring an additional 1,684 shares in the last quarter.

Wall Street Analyst Weigh In

GRAL has been the topic of a number of recent research reports. Weiss Ratings restated a "sell (d-)" rating on shares of GRAIL in a research report on Thursday, January 22nd. Canaccord Genuity Group decreased their price target on GRAIL from $105.00 to $80.00 and set a "buy" rating on the stock in a report on Friday, February 20th. Morgan Stanley lowered their price target on GRAIL from $110.00 to $60.00 and set an "equal weight" rating for the company in a research report on Tuesday, February 24th. TD Cowen initiated coverage on shares of GRAIL in a research report on Thursday, February 19th. They set a "hold" rating and a $114.00 price objective on the stock. Finally, Robert W. Baird set a $82.00 target price on shares of GRAIL in a research note on Friday, February 20th. Three analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $90.17.

Insiders Place Their Bets

In other news, President Joshua J. Ofman sold 17,002 shares of the business's stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $50.16, for a total value of $852,820.32. Following the completion of the transaction, the president directly owned 436,508 shares of the company's stock, valued at approximately $21,895,241.28. The trade was a 3.75% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Aaron Freidin sold 9,573 shares of the firm's stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $50.17, for a total value of $480,277.41. Following the sale, the chief financial officer directly owned 309,622 shares in the company, valued at approximately $15,533,735.74. The trade was a 3.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 64,079 shares of company stock worth $3,214,673 over the last 90 days. Company insiders own 1.85% of the company's stock.

GRAIL Stock Performance

GRAIL stock opened at $54.04 on Thursday. GRAIL, Inc. has a fifty-two week low of $20.44 and a fifty-two week high of $118.84. The company has a market capitalization of $2.11 billion, a PE ratio of -4.83 and a beta of 5.18. The company has a 50 day moving average price of $90.52 and a 200-day moving average price of $77.29.

GRAIL (NASDAQ:GRAL - Get Free Report) last announced its quarterly earnings results on Thursday, February 19th. The company reported ($2.44) EPS for the quarter, beating the consensus estimate of ($3.33) by $0.89. GRAIL had a negative return on equity of 17.58% and a negative net margin of 277.46%.The firm had revenue of $43.60 million for the quarter, compared to analyst estimates of $43.33 million. On average, analysts forecast that GRAIL, Inc. will post -15.15 earnings per share for the current year.

About GRAIL

GRAIL, Inc NASDAQ: GRAL is a biotechnology company dedicated to the early detection of cancer through a multi-cancer blood test. Leveraging advances in next-generation sequencing, cell-free DNA (cfDNA) analysis and machine learning, GRAIL has developed the Galleri™ test, which aims to identify more than 50 types of cancer at their earliest stages. The company's platform analyzes methylation patterns in circulating tumor DNA to pinpoint tumor presence and tissue of origin, enabling physicians to pursue timely diagnostic follow-up.

Founded in 2016 as a spin-out from Illumina, GRAIL established its headquarters in Menlo Park, California, with additional research and operations centers in the United Kingdom.

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