State of Wyoming Increases Position in GRAIL, Inc. $GRAL

Key Points

• The State of Wyoming has increased its holdings in GRAIL, Inc. by 65%, owning 85,408 shares as of the first quarter of the year, making it the company's 25th biggest holding.
• GRAIL reported earnings of ($3.18) per share for the last quarter, missing analyst expectations, and projects a negative net margin of 329.86%.
• Analysts at Canaccord Genuity have raised their price target for GRAIL from $32.00 to $43.00 and assigned it a "buy" rating, while the stock has an average rating of "Hold" based on market data.

State of Wyoming lifted its position in shares of GRAIL, Inc. (NASDAQ:GRAL - Free Report) by 65.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 85,408 shares of the company's stock after purchasing an additional 33,661 shares during the quarter. GRAIL accounts for 0.3% of State of Wyoming's portfolio, making the stock its 25th largest position. State of Wyoming owned approximately 0.24% of GRAIL worth $2,181,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the company. Sessa Capital IM L.P. acquired a new position in shares of GRAIL in the 4th quarter valued at approximately $53,550,000. Baker BROS. Advisors LP acquired a new position in GRAIL in the 4th quarter worth $29,098,000. Jacobs Levy Equity Management Inc. acquired a new stake in shares of GRAIL in the 4th quarter valued at about $18,209,000. AQR Capital Management LLC acquired a new position in shares of GRAIL during the fourth quarter worth about $14,828,000. Finally, Wealthquest Corp bought a new position in shares of GRAIL during the first quarter worth about $18,247,000.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group raised their target price on shares of GRAIL from $32.00 to $43.00 and gave the company a "buy" rating in a research report on Wednesday, May 14th. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $31.50.

Insiders Place Their Bets

In other GRAIL news, CFO Aaron Freidin sold 8,000 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer owned 286,020 shares in the company, valued at approximately $11,134,758.60. This represents a 2.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Joshua J. Ofman sold 4,202 shares of the company's stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $32.02, for a total transaction of $134,548.04. Following the transaction, the president owned 487,874 shares in the company, valued at approximately $15,621,725.48. The trade was a 0.85% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 361,694 shares of company stock valued at $17,780,266 in the last ninety days.

GRAIL Stock Performance

Shares of GRAIL stock traded up $0.23 on Wednesday, reaching $31.84. 195,315 shares of the stock were exchanged, compared to its average volume of 1,317,219. GRAIL, Inc. has a one year low of $12.33 and a one year high of $63.99. The firm has a market cap of $1.15 billion, a PE ratio of -2.43 and a beta of 3.18. The firm's 50 day moving average is $37.56 and its 200-day moving average is $36.05.

GRAIL (NASDAQ:GRAL - Get Free Report) last issued its earnings results on Tuesday, August 12th. The company reported ($3.18) EPS for the quarter, missing the consensus estimate of ($3.14) by ($0.04). GRAIL had a negative return on equity of 16.64% and a negative net margin of 329.86%.The business had revenue of $35.54 million for the quarter, compared to analyst estimates of $37.57 million. On average, equities research analysts expect that GRAIL, Inc. will post -15.15 EPS for the current fiscal 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.