Exchange Traded Concepts LLC Sells 10,706 Shares of GRAIL, Inc. (NASDAQ:GRAL)

Exchange Traded Concepts LLC reduced its position in GRAIL, Inc. (NASDAQ:GRAL - Free Report) by 37.7% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 17,682 shares of the company's stock after selling 10,706 shares during the period. Exchange Traded Concepts LLC owned 0.05% of GRAIL worth $452,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Crcm LP bought a new stake in GRAIL in the 4th quarter valued at about $65,061,000. Sessa Capital IM L.P. bought a new stake in GRAIL in the 4th quarter valued at about $53,550,000. Primecap Management Co. CA bought a new stake in GRAIL in the 4th quarter valued at about $37,118,000. Baker BROS. Advisors LP bought a new stake in GRAIL in the 4th quarter valued at about $29,098,000. Finally, Vanguard Group Inc. bought a new stake in GRAIL in the 4th quarter valued at about $25,902,000.

Insider Buying and Selling at GRAIL

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 transaction of $1,635,867.09. Following the completion of the transaction, the president now owns 511,460 shares of the company's stock, valued at approximately $17,353,837.80. The trade was a 8.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 value of $3,190,607.55. Following the transaction, the chief executive officer now directly owns 734,627 shares of the company's stock, valued at $24,925,894.11. The trade was a 11.35% decrease in their position. The disclosure for this sale can be found here. Insiders sold 183,398 shares of company stock valued at $6,222,694 in the last quarter. 1.85% of the stock is currently owned by corporate insiders.

GRAIL Stock Down 5.8%

GRAL stock opened at $45.63 on Friday. The firm has a market capitalization of $1.64 billion and a PE ratio of -0.75. GRAIL, Inc. has a twelve month low of $12.33 and a twelve month high of $63.99. The stock has a 50-day simple moving average of $37.25 and a two-hundred day simple moving average of $31.02.

GRAIL (NASDAQ:GRAL - Get Free Report) last posted its earnings results on Tuesday, May 13th. The company reported ($3.10) earnings per share for the quarter, beating analysts' consensus estimates of ($4.03) by $0.93. The business had revenue of $31.84 million during the quarter, compared to analyst estimates 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, equities research analysts anticipate that GRAIL, Inc. will post -15.15 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on GRAL shares. Morgan Stanley boosted their price objective on GRAIL from $16.00 to $20.00 and gave the company an "equal weight" rating in a research note on Tuesday, March 18th. 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 note on Wednesday, May 14th.

About GRAIL

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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