Jacobs Levy Equity Management Inc. Has $2.14 Million Stock Holdings in 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. cut its holdings in shares of GRAIL, Inc. (NASDAQ:GRAL - Free Report) by 91.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 83,581 shares of the company's stock after selling 936,524 shares during the period. Jacobs Levy Equity Management Inc. owned about 0.24% of GRAIL worth $2,135,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Caldwell Sutter Capital Inc. acquired a new position in shares of GRAIL in the 1st quarter worth approximately $28,000. KBC Group NV lifted its position in shares of GRAIL by 187.7% in the 1st 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 period. S.A. Mason LLC lifted its position 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 worth $38,000 after purchasing an additional 500 shares during the period. Signaturefd LLC lifted its position in shares of GRAIL by 273.0% in the 1st quarter. Signaturefd LLC now owns 1,876 shares of the company's stock worth $48,000 after purchasing an additional 1,373 shares during the period. Finally, Quarry LP lifted its position in shares of GRAIL by 1,965.4% in the 1st quarter. Quarry LP now owns 2,148 shares of the company's stock worth $55,000 after purchasing an additional 2,044 shares during the period.

Insider Transactions at GRAIL

In other news, President Joshua J. Ofman sold 4,202 shares of the company'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 completion of the sale, the president owned 487,874 shares in the company, valued at $15,621,725.48. This represents a 0.85% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Aaron Freidin sold 8,000 shares of the company's stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $38.93, for a total transaction of $311,440.00. Following the completion of 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 position. The disclosure for this sale can be found here. Insiders sold a total of 361,694 shares of company stock worth $17,780,266 in the last quarter. 1.85% of the stock is currently owned by corporate insiders.

GRAIL Trading Down 5.6%

Shares of GRAL stock opened at $35.42 on Thursday. The firm has a market capitalization of $1.28 billion, a PE ratio of -2.70 and a beta of 3.18. The firm has a fifty day simple moving average of $36.00 and a two-hundred day simple moving average of $35.60. 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 posted its earnings results on Tuesday, August 12th. The company reported ($3.18) earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $35.54 million during the quarter, compared to the consensus estimate of $37.57 million. On average, equities analysts predict that GRAIL, Inc. will post -15.15 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

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.

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