GRAIL, Inc. $GRAL Shares Newly Bought by Simplify Asset Management Inc.

Key Points

• Simplify Asset Management initiated a GRAIL position by purchasing 42,969 shares worth approximately $6.0 million, representing about 0.10% of the company. Several other institutional investors also increased or initiated holdings.
• GRAIL shares opened at $157.88, near their one-year high of $166.48, after rising well above their 50-day and 200-day moving averages. The company beat quarterly revenue and EPS expectations but remains unprofitable, with analysts forecasting a full-year loss.
• Analyst sentiment is mixed: five firms rate GRAIL a Buy, six rate it Hold, and one rates it Sell, producing an average “Hold” rating and a $119.80 price target. Insiders sold roughly 129,944 shares worth $14.8 million during the latest quarter.

Simplify Asset Management Inc. purchased a new position in shares of GRAIL, Inc. (NASDAQ:GRAL - Free Report) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 42,969 shares of the company's stock, valued at approximately $6,021,000. Simplify Asset Management Inc. owned about 0.10% of GRAIL at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. Root Financial Partners LLC acquired a new stake in GRAIL in the 3rd quarter valued at about $44,000. SBI Securities Co. Ltd. boosted its holdings in shares of GRAIL by 110.9% during the 3rd quarter. SBI Securities Co. Ltd. now owns 388 shares of the company's stock worth $54,000 after purchasing an additional 204 shares during the last quarter. Fifth Third Bancorp boosted its holdings in shares of GRAIL by 15,733.3% during the 1st quarter. Fifth Third Bancorp now owns 475 shares of the company's stock worth $25,000 after purchasing an additional 472 shares during the last quarter. Allworth Financial LP purchased a new stake in shares of GRAIL in the second quarter valued at approximately $35,000. Finally, Geneos Wealth Management Inc. grew its position in shares of GRAIL by 160.0% in the first quarter. Geneos Wealth Management Inc. now owns 585 shares of the company's stock valued at $30,000 after purchasing an additional 360 shares in the last quarter.

GRAIL Stock Performance

GRAL stock opened at $157.88 on Thursday. The firm has a market cap of $7.05 billion, a PE ratio of -16.19 and a beta of 2.83. The firm's 50 day moving average price is $109.01 and its 200-day moving average price is $78.07. GRAIL, Inc. has a one year low of $41.50 and a one year high of $166.48.

GRAIL (NASDAQ:GRAL - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The company reported ($2.56) EPS for the quarter, beating analysts' consensus estimates of ($2.66) by $0.10. The firm had revenue of $44.69 million for the quarter, compared to analysts' expectations of $42.39 million. GRAIL had a negative return on equity of 15.88% and a negative net margin of 236.95%. Equities research analysts predict that GRAIL, Inc. will post -10.07 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently commented on GRAL. Royal Bank Of Canada initiated coverage on GRAIL in a report on Thursday, September 17th. They issued a "sector perform" rating and a $84.00 price target for the company. Weiss Ratings reissued a "sell (d-)" rating on shares of GRAIL in a research note on Thursday, October 15th. TD Cowen boosted their price objective on GRAIL from $88.00 to $180.00 and gave the stock a "buy" rating in a research note on Tuesday, October 13th. Morgan Stanley upped their target price on GRAIL from $60.00 to $120.00 and gave the company an "equal weight" rating in a report on Monday, October 12th. Finally, UBS Group raised their target price on GRAIL from $105.00 to $175.00 and gave the stock a "buy" rating in a research note on Friday, October 2nd. Five analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $119.80.

Insiders Place Their Bets

In other news, CFO Aaron Freidin sold 23,619 shares of the company's stock in a transaction on Monday, October 5th. The stock was sold at an average price of $146.39, for a total value of $3,457,585.41. Following the transaction, the chief financial officer owned 225,364 shares of the company's stock, valued at $32,991,035.96. This represents a 9.49% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Andrew Partridge sold 7,873 shares of the stock in a transaction on Monday, October 5th. The stock was sold at an average price of $146.39, for a total value of $1,152,528.47. Following the transaction, the insider owned 155,865 shares of the company's stock, valued at approximately $22,817,077.35. This represents a 4.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 129,944 shares of company stock valued at $14,832,805 over the last quarter. 1.83% of the stock is owned by insiders.

GRAIL Profile

GRAIL, Inc NASDAQ: GRAL is a healthcare company focused on developing blood-based screening technologies for the early detection of cancer. Its principal product is Galleri, a multi-cancer early detection test designed to identify DNA patterns associated with multiple types of cancer from a single blood sample.

Galleri is intended for use alongside recommended cancer screenings and is available by prescription through qualified healthcare providers in the United States. The test is offered as a laboratory-developed test and has not been approved or cleared by the U.S.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.