Primecap Management Co. CA Sells 27,844 Shares of GRAIL, Inc. (NASDAQ:GRAL)

Key Points

• Primecap Management Co. CA has reduced its stake in GRAIL, Inc. (NASDAQ:GRAL) by 1.3%, selling 27,844 shares and now owns approximately 5.81% of the company, valued at $52.4 million.
• GRAIL reported a quarterly earnings of ($3.10) EPS, which exceeded analysts' estimates, although it had a negative net margin of 1,464.53% and revenue below consensus expectations at $31.84 million.
• Canaccord Genuity upgraded its price target for GRAIL from $32.00 to $43.00 and assigned a "buy" rating, reflecting analysts' positive outlook despite the company’s financial performance challenges.

Primecap Management Co. CA reduced its position in shares of GRAIL, Inc. (NASDAQ:GRAL - Free Report) by 1.3% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,051,572 shares of the company's stock after selling 27,844 shares during the quarter. Primecap Management Co. CA owned approximately 5.81% of GRAIL worth $52,397,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of GRAIL by 3.4% during the first quarter. Vanguard Group Inc. now owns 1,499,740 shares of the company's stock worth $38,303,000 after purchasing an additional 48,645 shares during the period. PNC Financial Services Group Inc. raised its position in GRAIL by 26.1% during the 1st quarter. PNC Financial Services Group Inc. now owns 6,085 shares of the company's stock valued at $155,000 after purchasing an additional 1,259 shares during the last quarter. Moors & Cabot Inc. grew its position in shares of GRAIL by 15.9% in the 1st quarter. Moors & Cabot Inc. now owns 15,857 shares of the company's stock worth $405,000 after buying an additional 2,177 shares during the last quarter. Wealthquest Corp purchased a new position in shares of GRAIL during the first quarter valued at approximately $18,247,000. Finally, 1ST Source Bank bought a new position in shares of GRAIL during the first quarter valued at approximately $217,000.

GRAIL Trading Down 2.0%

NASDAQ GRAL opened at $33.08 on Thursday. GRAIL, Inc. has a 12 month low of $12.33 and a 12 month high of $63.99. The stock's fifty day moving average price is $41.12 and its 200-day moving average price is $35.81. The stock has a market cap of $1.19 billion, a P/E ratio of -0.54 and a beta of 3.26.

GRAIL (NASDAQ:GRAL - Get Free Report) last released its quarterly earnings results on Tuesday, May 13th. The company reported ($3.10) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($4.03) by $0.93. GRAIL had a negative return on equity of 17.99% and a negative net margin of 1,464.53%. The firm had revenue of $31.84 million for the quarter, compared to the consensus estimate of $35.80 million. As a group, analysts forecast 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 company a "buy" rating in a research report on Wednesday, May 14th.

Insider Transactions at GRAIL

In other GRAIL news, CFO Aaron Freidin sold 8,000 shares of GRAIL stock in a transaction 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 completion of the transaction, the chief financial officer directly 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 Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Chun R. Ding sold 339,800 shares of the company's stock in a transaction that occurred on Tuesday, July 1st. The shares were 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 represents a 9.32% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 357,492 shares of company stock valued at $17,645,718. 1.85% of the stock is currently owned by corporate insiders.

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.

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