Informed Momentum Co LLC Takes $1.88 Million Position in GRAIL, Inc. (NASDAQ:GRAL)

Key Points

• Informed Momentum Co LLC has acquired 73,650 shares of GRAIL, Inc., valued at approximately $1.88 million, during the first quarter, amounting to about 0.21% ownership of the company.
• Analyst ratings increased for GRAIL, with Canaccord Genuity raising the target price from $32.00 to $43.00 and assigning a "buy" rating.
• Insiders have sold a total of 357,492 shares worth approximately $17.64 million in the last three months, with significant sales by both the president and a major shareholder.

Informed Momentum Co LLC purchased a new position in shares of GRAIL, Inc. (NASDAQ:GRAL - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 73,650 shares of the company's stock, valued at approximately $1,881,000. Informed Momentum Co LLC owned approximately 0.21% of GRAIL as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in GRAL. State of Tennessee Department of Treasury acquired a new stake in shares of GRAIL in the fourth quarter valued at $28,000. Caldwell Sutter Capital Inc. purchased a new position in shares of GRAIL during the first quarter worth about $28,000. Sterling Capital Management LLC purchased a new position in shares of GRAIL during the fourth quarter worth about $29,000. KBC Group NV grew its holdings in shares of 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 last quarter. Finally, S.A. Mason LLC grew its holdings in shares of 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 purchasing an additional 500 shares during the last quarter.

Insider Buying and Selling at GRAIL

In other news, President Joshua J. Ofman sold 9,692 shares of GRAIL stock in a transaction that occurred on Monday, June 30th. The shares were sold at an average price of $52.00, for a total transaction of $503,984.00. Following the completion of the sale, the president directly owned 492,076 shares in the company, valued at approximately $25,587,952. This trade represents a 1.93% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Aaron Freidin sold 8,000 shares of GRAIL stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $38.93, for a total transaction of $311,440.00. Following the sale, the chief financial officer owned 286,020 shares of the company's stock, valued at approximately $11,134,758.60. The trade was a 2.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 357,492 shares of company stock valued at $17,645,718. 1.85% of the stock is owned by corporate insiders.

GRAIL Trading Up 0.8%

Shares of NASDAQ GRAL traded up $0.25 during midday trading on Friday, reaching $32.43. 805,479 shares of the company were exchanged, compared to its average volume of 985,632. GRAIL, Inc. has a 1 year low of $12.33 and a 1 year high of $63.99. The stock has a fifty day simple moving average of $40.12 and a 200 day simple moving average of $36.30. The stock has a market cap of $1.17 billion, a P/E ratio of -2.47 and a beta of 3.26.

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

Analyst Ratings Changes

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

About GRAIL

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.