GRAIL, Inc. $GRAL Shares Sold by Reynders McVeigh Capital Management LLC

Key Points

• Reynders McVeigh Capital Management cut its GRAIL stake by 40.1% in the second quarter, selling 47,761 shares and retaining 71,304 shares valued at approximately $4.9 million.
• Other major institutions increased exposure, including BlackRock, Baker BROS. Advisors, and Dimensional Fund Advisors, while CEO Joshua Ofman and CFO Aaron Freidin sold shares under pre-arranged Rule 10b5-1 trading plans.
• GRAIL reported quarterly revenue of $44.69 million and an adjusted loss of $2.56 per share, beating estimates; analysts maintain a consensus “Hold” rating with a $71.11 target price, below the reported share price of $75.89.

Reynders McVeigh Capital Management LLC reduced its stake in shares of GRAIL, Inc. (NASDAQ:GRAL - Free Report) by 40.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 71,304 shares of the company's stock after selling 47,761 shares during the quarter. Reynders McVeigh Capital Management LLC owned 0.16% of GRAIL worth $4,868,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Primecap Management Co. CA purchased a new stake in GRAIL in the 2nd quarter worth approximately $148,836,000. Bank of America Corp DE purchased a new position in shares of GRAIL during the 2nd quarter valued at approximately $49,389,000. BlackRock Inc. lifted its stake in shares of GRAIL by 20.5% in the 2nd quarter. BlackRock Inc. now owns 3,577,075 shares of the company's stock valued at $244,207,000 after purchasing an additional 608,539 shares during the period. Baker BROS. Advisors LP lifted its stake in shares of GRAIL by 27.9% in the 4th quarter. Baker BROS. Advisors LP now owns 2,085,333 shares of the company's stock valued at $178,484,000 after purchasing an additional 455,208 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in GRAIL by 88.5% during the first quarter. Dimensional Fund Advisors LP now owns 408,650 shares of the company's stock worth $21,104,000 after buying an additional 191,857 shares in the last quarter.

Insider Transactions at GRAIL

In related news, CEO Joshua Ofman sold 5,000 shares of the company's stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $85.02, for a total transaction of $425,100.00. Following the completion of the transaction, the chief executive officer owned 397,271 shares in the company, valued at $33,775,980.42. This represents a 1.24% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Aaron Freidin sold 7,900 shares of the firm's 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 directly owned 253,083 shares in the company, valued at $21,514,585.83. This represents a 3.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.83% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Wall Street Zen raised shares of GRAIL from a "sell" rating to a "hold" rating in a report on Sunday. Wolfe Research initiated coverage on shares of GRAIL in a research note on Tuesday, June 2nd. They set a "peer perform" rating on the stock. Mizuho raised their target price on GRAIL from $58.00 to $65.00 and gave the company a "neutral" rating in a research report on Wednesday, July 15th. The Goldman Sachs Group started coverage on GRAIL in a research note on Friday, June 5th. They issued a "neutral" rating and a $60.00 price target for the company. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of GRAIL in a report on Friday, July 17th. Five analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $71.11.

GRAIL Stock Performance

GRAIL stock traded up $0.36 during trading on Tuesday, reaching $75.89. The company had a trading volume of 1,514,615 shares, compared to its average volume of 904,530. The firm has a market capitalization of $3.39 billion, a PE ratio of -7.78 and a beta of 3.25. The firm's 50-day simple moving average is $73.62 and its 200 day simple moving average is $62.86. GRAIL, Inc. has a 1-year low of $36.98 and a 1-year high of $118.84.

GRAIL (NASDAQ:GRAL - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($2.56) earnings per share for the quarter, topping analysts' consensus estimates of ($2.66) by $0.10. The company had revenue of $44.69 million during the quarter, compared to analysts' expectations of $42.39 million. GRAIL had a negative net margin of 236.95% and a negative return on equity of 15.88%. Analysts anticipate that GRAIL, Inc. will post -10.41 EPS for the current year.

GRAIL Company Profile

GRAIL, Inc is a healthcare company focused on developing blood-based tests for the early detection of cancer. Its technology uses genomic and epigenomic signals, including patterns of DNA methylation, to identify signals associated with multiple cancer types from a single blood sample.

The company's primary product is Galleri, a prescription blood test designed to screen for signals of more than 50 types of cancer, including cancers that currently lack recommended screening methods. Galleri is intended to complement, not replace, guideline-recommended cancer screenings, and a positive result requires follow-up diagnostic testing to determine whether cancer is present and where it may be located.

GRAIL was founded in 2016 as a subsidiary of Illumina and became an independent publicly traded company following its separation from Illumina in 2021.

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