GRAIL, Inc. $GRAL Shares Sold by Alyeska Investment Group L.P.

Key Points

• Alyeska Investment Group cut its GRAIL stake by 83.7% in the second quarter, selling 540,456 shares and retaining 105,000 shares worth approximately $7.17 million.
• GRAIL reported quarterly revenue of $44.69 million and an adjusted loss of $2.56 per share, exceeding analyst expectations; shares recently opened at $79.79, well above their 50-day and 200-day moving averages.
• Analysts maintain a consensus “Hold” rating with a $67.78 price target, below the recent share price. Insiders have also sold 14,391 shares worth about $1.19 million over the past 90 days.

Alyeska Investment Group L.P. decreased its stake in shares of GRAIL, Inc. (NASDAQ:GRAL - Free Report) by 83.7% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 105,000 shares of the company's stock after selling 540,456 shares during the period. Alyeska Investment Group L.P. owned about 0.24% of GRAIL worth $7,168,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of GRAL. Parallel Advisors LLC lifted its holdings in GRAIL by 5.2% during the 4th quarter. Parallel Advisors LLC now owns 2,667 shares of the company's stock worth $228,000 after buying an additional 133 shares during the last quarter. Comerica Bank increased its holdings in shares of GRAIL by 59.2% in the 3rd quarter. Comerica Bank now owns 465 shares of the company's stock valued at $27,000 after acquiring an additional 173 shares during the last quarter. Prosperity Consulting Group LLC increased its holdings in shares of GRAIL by 6.9% in the 1st quarter. Prosperity Consulting Group LLC now owns 3,881 shares of the company's stock valued at $201,000 after acquiring an additional 250 shares during the last quarter. Rossby Financial LCC raised its position in shares of GRAIL by 25.0% during the 4th quarter. Rossby Financial LCC now owns 1,250 shares of the company's stock valued at $107,000 after acquiring an additional 250 shares in the last quarter. Finally, Blair William & Co. IL raised its position in shares of GRAIL by 5.3% during the 3rd quarter. Blair William & Co. IL now owns 5,356 shares of the company's stock valued at $317,000 after acquiring an additional 268 shares in the last quarter.

GRAIL Price Performance

Shares of GRAL stock opened at $79.79 on Wednesday. GRAIL, Inc. has a 12-month low of $30.82 and a 12-month high of $118.84. The firm has a market capitalization of $3.56 billion, a price-to-earnings ratio of -8.18 and a beta of 3.25. The business has a 50 day simple moving average of $71.65 and a 200 day simple moving average of $63.07.

GRAIL (NASDAQ:GRAL - Get Free Report) last announced its earnings results on Wednesday, August 5th. The company reported ($2.56) earnings per share for the quarter, beating the consensus estimate of ($2.66) by $0.10. GRAIL had a negative return on equity of 15.88% and a negative net margin of 236.95%.The firm had revenue of $44.69 million for the quarter, compared to the consensus estimate of $42.39 million. On average, equities analysts anticipate that GRAIL, Inc. will post -10.41 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have weighed in on GRAL shares. Mizuho increased their target price on shares of GRAIL from $58.00 to $65.00 and gave the stock a "neutral" rating in a report on Wednesday, July 15th. Piper Sandler lifted their price target on shares of GRAIL from $54.00 to $56.00 and gave the company a "neutral" rating in a report on Wednesday, May 6th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of GRAIL in a research report on Friday, July 17th. Wolfe Research assumed coverage on shares of GRAIL in a research note on Tuesday, June 2nd. They set a "peer perform" rating on the stock. Finally, The Goldman Sachs Group started coverage on shares of GRAIL in a report on Friday, June 5th. They issued a "neutral" rating and a $60.00 target price on the stock. Four analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, GRAIL has a consensus rating of "Hold" and a consensus price target of $67.78.

Insider Buying and Selling

In related news, insider Andrew John Partridge sold 1,491 shares of the company's stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $61.08, for a total value of $91,070.28. Following the completion of the sale, the insider owned 163,738 shares of the company's stock, valued at $10,001,117.04. This represents a 0.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Aaron Freidin sold 7,900 shares of the stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $85.01, for a total transaction of $671,579.00. Following the completion of the transaction, the chief financial officer owned 253,083 shares of the company's stock, valued at $21,514,585.83. This represents a 3.03% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 14,391 shares of company stock valued at $1,187,749 over the last 90 days. 1.83% of the stock is currently owned by company insiders.

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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