Ieq Capital LLC Buys 8,435 Shares of GRAIL, Inc. $GRAL

Key Points

• Ieq Capital LLC increased its stake in GRAIL, Inc. by 42.4%, acquiring an additional 8,435 shares to hold a total of 28,309 shares worth approximately $723,000.
• GRAIL reported earnings of ($3.18) per share, missing analyst expectations, and had revenue of $35.54 million, underperforming against projected figures.
• Canaccord Genuity raised the target price for GRAIL shares from $32.00 to $43.00, maintaining a "buy" rating amid mixed analyst sentiment with a consensus of "hold."

Ieq Capital LLC increased its stake in shares of GRAIL, Inc. (NASDAQ:GRAL - Free Report) by 42.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 28,309 shares of the company's stock after acquiring an additional 8,435 shares during the period. Ieq Capital LLC owned about 0.08% of GRAIL worth $723,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of GRAL. State of Tennessee Department of Treasury purchased a new position in shares of GRAIL in the fourth quarter valued at approximately $28,000. Caldwell Sutter Capital Inc. purchased a new position in GRAIL during the first quarter worth about $28,000. KBC Group NV boosted 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 buying an additional 933 shares during the period. S.A. Mason LLC raised its holdings in shares of GRAIL by 50.1% in the 1st quarter. S.A. Mason LLC now owns 1,499 shares of the company's stock valued at $38,000 after buying an additional 500 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of GRAIL in the 4th quarter valued at $41,000.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group boosted their target price on GRAIL from $32.00 to $43.00 and gave the stock a "buy" rating in a research note on Wednesday, May 14th. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $31.50.

GRAIL Trading Up 4.0%

Shares of GRAIL stock traded up $1.48 during trading hours on Monday, reaching $38.39. The stock had a trading volume of 257,485 shares, compared to its average volume of 1,307,890. The firm has a 50 day simple moving average of $36.74 and a two-hundred day simple moving average of $35.60. The firm has a market capitalization of $1.38 billion, a price-to-earnings ratio of -2.93 and a beta of 3.20. GRAIL, Inc. has a 1 year low of $12.33 and a 1 year high of $63.99.

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

Insider Activity at GRAIL

In related news, President Joshua J. Ofman sold 9,692 shares of the business's stock in a transaction that occurred on Monday, June 30th. The stock was sold at an average price of $52.00, for a total transaction of $503,984.00. Following the completion of the transaction, the president owned 492,076 shares in the company, valued at $25,587,952. The trade was a 1.93% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Chun R. Ding sold 339,800 shares of the business's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $49.53, for a total value of $16,830,294.00. Following the transaction, the insider owned 3,305,055 shares of the company's stock, valued at $163,699,374.15. This trade represents a 9.32% decrease in their position. The disclosure for this sale can be found here. Insiders sold 361,694 shares of company stock worth $17,780,266 in the last 90 days.

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.