Ontario Teachers Pension Plan Board Reduces Holdings in GRAIL, Inc. (NASDAQ:GRAL)

Key Points

• Ontario Teachers Pension Plan Board reduced its stake in GRAIL, Inc. by 78.4%, now owning 8,366 shares valued at $214,000 as of its latest SEC filing.
• Despite a loss of ($3.10) per share for the last quarter, GRAIL’s revenue was reported at $31.84 million, below analysts' expectations of $35.80 million.
• The stock's price target has been raised from $32.00 to $43.00 with a "buy" rating by Canaccord Genuity Group following its latest earnings report.

Ontario Teachers Pension Plan Board decreased its holdings in GRAIL, Inc. (NASDAQ:GRAL - Free Report) by 78.4% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 8,366 shares of the company's stock after selling 30,357 shares during the quarter. Ontario Teachers Pension Plan Board's holdings in GRAIL were worth $214,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. S.A. Mason LLC grew its position in GRAIL by 50.1% during the first quarter. S.A. Mason LLC now owns 1,499 shares of the company's stock worth $38,000 after buying an additional 500 shares in the last quarter. KBC Group NV lifted its stake in GRAIL by 187.7% during the first quarter. KBC Group NV now owns 1,430 shares of the company's stock worth $37,000 after purchasing an additional 933 shares during the period. Caldwell Sutter Capital Inc. bought a new position in GRAIL during the first quarter worth about $28,000. PNC Financial Services Group Inc. lifted its stake in GRAIL by 26.1% during the first quarter. PNC Financial Services Group Inc. now owns 6,085 shares of the company's stock worth $155,000 after purchasing an additional 1,259 shares during the period. Finally, Signaturefd LLC lifted its stake in GRAIL by 273.0% during the first quarter. Signaturefd LLC now owns 1,876 shares of the company's stock worth $48,000 after purchasing an additional 1,373 shares during the period.

GRAIL Stock Performance

NASDAQ GRAL traded down $1.91 on Thursday, reaching $32.07. The company had a trading volume of 713,097 shares, compared to its average volume of 1,376,098. The firm has a market capitalization of $1.15 billion, a price-to-earnings ratio of -2.43 and a beta of 3.26. GRAIL, Inc. has a 1-year low of $12.33 and a 1-year high of $63.99. The company's fifty day moving average is $40.38 and its 200-day moving average is $36.15.

GRAIL (NASDAQ:GRAL - Get Free Report) last posted 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 for the quarter, compared to analyst estimates of $37.57 million. GRAIL had a negative return on equity of 16.32% and a negative net margin of 329.86%. On average, research analysts forecast that GRAIL, Inc. will post -15.15 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group raised their price target on shares of GRAIL from $32.00 to $43.00 and gave the stock a "buy" rating in a research note on Wednesday, May 14th.

Insider Buying and Selling

In other news, major shareholder Chun R. Ding sold 339,800 shares of GRAIL stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $49.53, for a total transaction of $16,830,294.00. Following the completion of the transaction, the insider directly owned 3,305,055 shares in the company, valued at $163,699,374.15. This trade represents a 9.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Aaron Freidin sold 8,000 shares of GRAIL 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 transaction, the chief financial officer owned 286,020 shares of the company's stock, valued at $11,134,758.60. This represents a 2.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 357,492 shares of company stock valued at $17,645,718 over the last quarter. 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.