Invesco Ltd. Purchases 15,890 Shares of GRAIL, Inc. $GRAL

Key Points

• Invesco Ltd. increased its stake in GRAIL, Inc. by 35.3%, acquiring an additional 15,890 shares to total 60,891 shares valued at approximately $1,555,000.
• Insider transactions include President Joshua J. Ofman selling 9,692 shares for nearly $504,000, while major shareholder Chun R. Ding sold 339,800 shares for about $16.8 million.
• GRAIL reported a loss of $3.18 per share in its last earnings report, missing estimates slightly, with revenue of $35.54 million compared to the expected $37.57 million.

Invesco Ltd. grew its position in shares of GRAIL, Inc. (NASDAQ:GRAL - Free Report) by 35.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 60,891 shares of the company's stock after purchasing an additional 15,890 shares during the quarter. Invesco Ltd. owned approximately 0.17% of GRAIL worth $1,555,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Wells Fargo & Company MN acquired a new stake in shares of GRAIL during the 4th quarter valued at approximately $90,000. GAMMA Investing LLC boosted its position in GRAIL by 4,102.5% in the 1st quarter. GAMMA Investing LLC now owns 25,131 shares of the company's stock valued at $642,000 after buying an additional 24,533 shares during the last quarter. Wealth Enhancement Advisory Services LLC purchased a new position in GRAIL in the 1st quarter valued at about $719,000. Deutsche Bank AG acquired a new stake in shares of GRAIL in the 4th quarter valued at about $1,001,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in GRAIL in the fourth quarter worth about $1,201,000.

GRAIL Stock Up 9.9%

NASDAQ GRAL traded up $3.32 during trading hours on Friday, hitting $36.91. The company's stock had a trading volume of 1,108,009 shares, compared to its average volume of 724,749. GRAIL, Inc. has a twelve month low of $12.33 and a twelve month high of $63.99. The firm has a market capitalization of $1.33 billion, a P/E ratio of -2.82 and a beta of 3.18. The stock has a fifty day moving average of $36.74 and a 200 day moving average of $35.80.

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

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group raised their price objective on shares of GRAIL from $32.00 to $43.00 and gave the company a "buy" rating in a research note on Wednesday, May 14th. One analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $31.50.

Insider Transactions at GRAIL

In related news, major shareholder Chun R. Ding sold 339,800 shares of the business's stock in a transaction on 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 transaction, the insider owned 3,305,055 shares in the company, valued at $163,699,374.15. The trade was a 9.32% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Joshua J. Ofman sold 9,692 shares of the business's stock in a transaction 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 sale, the president owned 492,076 shares of the company's stock, valued at $25,587,952. This trade represents a 1.93% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 361,694 shares of company stock worth $17,780,266. Company insiders own 1.85% of the company's stock.

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.