Ieq Capital LLC Invests $886,000 in GRAIL, Inc. $GRAL

Key Points

• Ieq Capital acquired a new $886,000 stake in GRAIL during the second quarter, joining several other investment firms that recently increased or initiated positions.
• GRAIL reported quarterly revenue of $44.69 million, exceeding analyst expectations, while its adjusted loss of $2.56 per share was narrower than forecast. Analysts expect the company to remain unprofitable for the full fiscal year.
• Shares opened at $82.50, up 3.7%, with the stock trading well above its 50-day and 200-day moving averages. Despite four Buy ratings, the overall analyst consensus remains Hold, with a $67.78 average price target.

Ieq Capital LLC acquired a new stake in shares of GRAIL, Inc. (NASDAQ:GRAL - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 12,974 shares of the company's stock, valued at approximately $886,000.

A number of other hedge funds also recently made changes to their positions in GRAL. Fifth Third Bancorp increased its stake in GRAIL by 15,733.3% in the first quarter. Fifth Third Bancorp now owns 475 shares of the company's stock valued at $25,000 after acquiring an additional 472 shares during the last quarter. Comerica Bank lifted its stake in GRAIL by 59.2% during the third quarter. Comerica Bank now owns 465 shares of the company's stock worth $27,000 after purchasing an additional 173 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in shares of GRAIL in the 4th quarter worth about $28,000. Geneos Wealth Management Inc. boosted its holdings in shares of GRAIL by 160.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 585 shares of the company's stock worth $30,000 after purchasing an additional 360 shares in the last quarter. Finally, Elyxium Wealth LLC bought a new position in shares of GRAIL during the 4th quarter valued at about $31,000.

GRAIL Trading Up 3.7%

GRAL opened at $82.50 on Friday. The company has a market cap of $3.69 billion, a P/E ratio of -8.46 and a beta of 3.24. The business's 50-day moving average price is $70.61 and its 200-day moving average price is $63.53. GRAIL, Inc. has a 12 month low of $30.82 and a 12 month high of $118.84.

GRAIL (NASDAQ:GRAL - Get Free Report) last issued 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 company had revenue of $44.69 million during the quarter, compared to analysts' expectations of $42.39 million. Equities research analysts forecast that GRAIL, Inc. will post -10.41 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other GRAIL news, insider Andrew John Partridge sold 1,491 shares of the business's stock in a transaction that occurred on Thursday, June 4th. The stock was 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 in the company, valued at approximately $10,001,117.04. The trade was a 0.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.83% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on GRAL shares. Wall Street Zen raised GRAIL from a "sell" rating to a "hold" rating in a report on Saturday, May 9th. Piper Sandler upped their target price on GRAIL from $54.00 to $56.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 6th. Robert W. Baird set a $70.00 price target on shares of GRAIL in a research report on Wednesday, May 6th. Wolfe Research started coverage on shares of GRAIL in a research note on Tuesday, June 2nd. They set a "peer perform" rating on the stock. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of GRAIL in a report on Friday, July 17th. Four research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $67.78.

GRAIL Profile

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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