GRAIL, Inc. $GRAL Shares Sold by Newtyn Management LLC

Key Points

• Newtyn Management LLC reduced its stake in GRAIL, Inc. by 41.9%, now holding 232,297 shares valued at approximately $5.93 million.
• Insider sales included President Joshua J. Ofman selling 9,692 shares and major shareholder Chun R. Ding selling 339,800 shares, resulting in notable decreases in their ownership stakes.
• Analysts at Canaccord Genuity have increased their target price for GRAIL from $32.00 to $43.00, with an average rating of "Hold" amongst analysts.

Newtyn Management LLC reduced its stake in GRAIL, Inc. (NASDAQ:GRAL - Free Report) by 41.9% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 232,297 shares of the company's stock after selling 167,703 shares during the quarter. GRAIL makes up approximately 0.9% of Newtyn Management LLC's investment portfolio, making the stock its 22nd largest position. Newtyn Management LLC owned about 0.66% of GRAIL worth $5,933,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of GRAL. Wells Fargo & Company MN acquired a new position in GRAIL during the 4th quarter worth about $90,000. Raymond James Financial Inc. acquired a new stake in GRAIL in the 4th quarter valued at about $476,000. Barclays PLC acquired a new stake in GRAIL in the 4th quarter valued at about $429,000. Mariner LLC acquired a new stake in GRAIL in the 4th quarter valued at about $190,000. Finally, Dimensional Fund Advisors LP acquired a new stake in GRAIL in the 4th quarter valued at about $860,000.

Analyst Ratings Changes

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

Insiders Place Their Bets

In other GRAIL news, CFO Aaron Freidin sold 8,000 shares of GRAIL stock in a transaction that occurred 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 transaction, the chief financial officer owned 286,020 shares of the company's stock, valued at $11,134,758.60. The trade was a 2.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, major shareholder Chun R. Ding sold 339,800 shares of GRAIL stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $49.53, for a total value of $16,830,294.00. Following the transaction, the insider directly owned 3,305,055 shares in the company, valued at approximately $163,699,374.15. This trade represents a 9.32% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 361,694 shares of company stock valued at $17,780,266 over the last quarter.

GRAIL Price Performance

Shares of NASDAQ GRAL traded down $0.65 during midday trading on Wednesday, hitting $36.88. 335,656 shares of the company's stock were exchanged, compared to its average volume of 1,303,274. GRAIL, Inc. has a twelve month low of $12.33 and a twelve month high of $63.99. The company has a market cap of $1.33 billion, a PE ratio of -2.82 and a beta of 3.18. The firm's fifty day simple moving average is $36.24 and its 200-day simple moving average is $35.60.

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

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.