Jacobs Levy Equity Management Inc. Sells 936,524 Shares of GRAIL, Inc. $GRAL

Key Points

• Jacobs Levy Equity Management Inc. has significantly reduced its stake in GRAIL, Inc., cutting holdings by 91.8% and owning approximately $2.14 million worth of shares.
• Insider transactions reveal that President Joshua J. Ofman and CFO Aaron Freidin both sold shares recently, resulting in a total sale of 361,694 shares worth about $17.78 million in the last quarter.
• The company reported an earnings per share of ($3.18), missing estimates, and has a current market capitalization of $1.28 billion, with analysts predicting a consensus price target of $31.50.

Jacobs Levy Equity Management Inc. trimmed its position in shares of GRAIL, Inc. (NASDAQ:GRAL - Free Report) by 91.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 83,581 shares of the company's stock after selling 936,524 shares during the quarter. Jacobs Levy Equity Management Inc. owned 0.24% of GRAIL worth $2,135,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GRAL. Dimensional Fund Advisors LP bought a new position in shares of GRAIL during the fourth quarter worth $860,000. Price T Rowe Associates Inc. MD bought a new position in shares of GRAIL during the fourth quarter worth $438,000. Northern Trust Corp bought a new position in shares of GRAIL during the fourth quarter worth $2,605,000. Ameriprise Financial Inc. bought a new position in shares of GRAIL during the fourth quarter worth $681,000. Finally, BNP Paribas Financial Markets bought a new position in shares of GRAIL during the fourth quarter worth $50,000.

Insider Activity at GRAIL

In related news, President Joshua J. Ofman sold 4,202 shares of the business's stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $32.02, for a total value of $134,548.04. Following the sale, the president directly owned 487,874 shares of the company's stock, valued at approximately $15,621,725.48. The trade was a 0.85% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed 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 shares were sold at an average price of $49.53, for a total transaction of $16,830,294.00. Following the completion of the sale, the insider directly owned 3,305,055 shares in the company, valued at $163,699,374.15. This represents a 9.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 361,694 shares of company stock valued at $17,780,266.

GRAIL Price Performance

Shares of NASDAQ GRAL traded down $0.55 during midday trading on Tuesday, reaching $38.78. 473,032 shares of the stock were exchanged, compared to its average volume of 655,311. The business has a 50-day simple moving average of $35.47 and a two-hundred day simple moving average of $35.46. The company has a market capitalization of $1.40 billion, a price-to-earnings ratio of -2.96 and a beta of 3.18. GRAIL, Inc. has a 12 month low of $12.33 and a 12 month high of $63.99.

GRAIL (NASDAQ:GRAL - Get Free Report) last announced its quarterly 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 firm had revenue of $35.54 million for the quarter, compared to the consensus estimate of $37.57 million. GRAIL had a negative return on equity of 16.64% and a negative net margin of 329.86%. Equities research analysts expect that GRAIL, Inc. will post -15.15 earnings per share for the current fiscal year.

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.