Sessa Capital IM L.P. Sells 1,081,724 Shares of GRAIL, Inc. $GRAL

Key Points

• Sessa Capital IM L.P. has reduced its stake in GRAIL, Inc. by 36.1%, now holding 1,918,276 shares, making up 1.9% of its portfolio.
• For Q2, GRAIL reported a loss of ($3.18) EPS, missing analysts' expectations, with revenue of $35.54 million.
• GRAIL's stock has seen significant insider activity, with major shareholder Chun R. Ding selling 339,800 shares at an average price of $49.53.

Sessa Capital IM L.P. decreased its position in GRAIL, Inc. (NASDAQ:GRAL - Free Report) by 36.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,918,276 shares of the company's stock after selling 1,081,724 shares during the period. GRAIL makes up 1.9% of Sessa Capital IM L.P.'s holdings, making the stock its 13th biggest holding. Sessa Capital IM L.P. owned about 5.43% of GRAIL worth $48,993,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of GRAL. Wells Fargo & Company MN acquired a new position in GRAIL in the fourth quarter valued at $90,000. Raymond James Financial Inc. bought a new position in shares of GRAIL during the 4th quarter worth about $476,000. Barclays PLC bought a new position in shares of GRAIL during the 4th quarter worth about $429,000. Dimensional Fund Advisors LP bought a new position in shares of GRAIL during the 4th quarter worth about $860,000. Finally, Stifel Financial Corp bought a new position in shares of GRAIL during the 4th quarter worth about $625,000.

GRAIL Price Performance

Shares of GRAL stock traded down $1.29 on Friday, reaching $37.37. 273,590 shares of the company were exchanged, compared to its average volume of 1,299,385. The company has a 50-day moving average of $35.84 and a 200-day moving average of $35.55. The company has a market cap of $1.35 billion, a price-to-earnings ratio of -2.85 and a beta of 3.18. GRAIL, Inc. has a one year low of $12.33 and a one year high of $63.99.

GRAIL (NASDAQ:GRAL - Get Free Report) last announced its quarterly earnings results on Tuesday, August 12th. The company reported ($3.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($3.14) by ($0.04). The firm had revenue of $35.54 million during the quarter, compared to the consensus estimate of $37.57 million. GRAIL had a negative return on equity of 16.64% and a negative net margin of 329.86%. As a group, sell-side analysts predict that GRAIL, Inc. will post -15.15 EPS for the current year.

Insider Transactions at GRAIL

In other news, CFO Aaron Freidin sold 8,000 shares of the business's stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $38.93, for a total transaction of $311,440.00. Following the completion of the sale, the chief financial officer directly owned 286,020 shares of the company's stock, valued at $11,134,758.60. The trade was a 2.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Chun R. Ding sold 339,800 shares of the business's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $49.53, for a total transaction of $16,830,294.00. Following the sale, the insider directly owned 3,305,055 shares of the company's stock, valued at approximately $163,699,374.15. The trade was a 9.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 361,694 shares of company stock valued at $17,780,266 over the last three months. Corporate insiders own 1.85% of the company's stock.

GRAIL Company 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.