Exchange Traded Concepts LLC Has $452,000 Position in GRAIL, Inc. (NASDAQ:GRAL)

Exchange Traded Concepts LLC decreased its holdings in GRAIL, Inc. (NASDAQ:GRAL - Free Report) by 37.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 17,682 shares of the company's stock after selling 10,706 shares during the period. Exchange Traded Concepts LLC owned approximately 0.05% of GRAIL worth $452,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Lindbrook Capital LLC acquired a new stake in GRAIL in the fourth quarter valued at approximately $28,000. State of Tennessee Department of Treasury acquired a new stake in shares of GRAIL during the 4th quarter valued at $28,000. Caldwell Sutter Capital Inc. acquired a new stake in shares of GRAIL during the 1st quarter valued at $28,000. Sterling Capital Management LLC bought a new stake in GRAIL during the 4th quarter worth $29,000. Finally, Wellington Shields Capital Management LLC acquired a new position in GRAIL in the 4th quarter worth about $33,000.

Insider Buying and Selling at GRAIL

In related news, President Joshua J. Ofman sold 48,213 shares of the business's stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $33.93, for a total value of $1,635,867.09. Following the transaction, the president now owns 511,460 shares in the company, valued at $17,353,837.80. The trade was a 8.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Aaron Freidin sold 41,150 shares of the company's stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $33.93, for a total transaction of $1,396,219.50. Following the sale, the chief financial officer now directly owns 294,020 shares in the company, valued at $9,976,098.60. This trade represents a 12.28% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 183,398 shares of company stock valued at $6,222,694. 1.85% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have recently commented on GRAL. Canaccord Genuity Group lifted their price target on GRAIL from $32.00 to $43.00 and gave the company a "buy" rating in a research note on Wednesday, May 14th. Morgan Stanley raised their price objective on shares of GRAIL from $16.00 to $20.00 and gave the company an "equal weight" rating in a report on Tuesday, March 18th.

GRAIL Stock Performance

NASDAQ GRAL traded up $2.22 on Wednesday, reaching $46.17. The company had a trading volume of 856,168 shares, compared to its average volume of 1,227,143. GRAIL, Inc. has a fifty-two week low of $12.33 and a fifty-two week high of $63.99. The business has a 50 day moving average of $37.98 and a two-hundred day moving average of $31.32.

GRAIL (NASDAQ:GRAL - Get Free Report) last issued its quarterly earnings results on Tuesday, May 13th. The company reported ($3.10) earnings per share for the quarter, beating the consensus estimate of ($4.03) by $0.93. The company had revenue of $31.84 million during 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%. Sell-side analysts expect that GRAIL, Inc. will post -15.15 EPS for the current year.

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.