GRAIL, Inc. (NASDAQ:GRAL) Shares Sold by Primecap Management Co. CA

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 lowered its position in GRAIL, Inc. (NASDAQ:GRAL - Free Report) by 1.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,051,572 shares of the company's stock after selling 27,844 shares during the quarter. Primecap Management Co. CA owned about 5.81% of GRAIL worth $52,397,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. S.A. Mason LLC boosted its stake in GRAIL by 50.1% during the first quarter. S.A. Mason LLC now owns 1,499 shares of the company's stock worth $38,000 after buying an additional 500 shares during the period. KBC Group NV boosted its stake in GRAIL by 187.7% during the first quarter. KBC Group NV now owns 1,430 shares of the company's stock worth $37,000 after buying an additional 933 shares during the period. Caldwell Sutter Capital Inc. purchased a new position in GRAIL during the first quarter worth about $28,000. PNC Financial Services Group Inc. boosted its stake in GRAIL by 26.1% during the first quarter. PNC Financial Services Group Inc. now owns 6,085 shares of the company's stock worth $155,000 after buying an additional 1,259 shares during the period. Finally, Signaturefd LLC boosted its stake in GRAIL by 273.0% during the first quarter. Signaturefd LLC now owns 1,876 shares of the company's stock worth $48,000 after buying an additional 1,373 shares during the period.

GRAIL Price Performance

Shares of NASDAQ GRAL traded down $1.59 during midday trading on Monday, hitting $31.23. The company's stock had a trading volume of 344,196 shares, compared to its average volume of 1,374,129. The business's fifty day simple moving average is $40.70 and its two-hundred day simple moving average is $36.16. GRAIL, Inc. has a 1 year low of $12.33 and a 1 year high of $63.99. The firm has a market capitalization of $1.12 billion, a price-to-earnings ratio of -0.51 and a beta of 3.26.

GRAIL (NASDAQ:GRAL - Get Free Report) last posted its quarterly earnings data on Tuesday, May 13th. The company reported ($3.10) EPS for the quarter, beating the consensus estimate of ($4.03) by $0.93. GRAIL had a negative net margin of 1,464.53% and a negative return on equity of 17.99%. The business had revenue of $31.84 million during the quarter, compared to analyst estimates of $35.80 million. Analysts anticipate that GRAIL, Inc. will post -15.15 EPS for the current fiscal year.

Insider Activity

In related news, CFO Aaron Freidin sold 8,000 shares of GRAIL stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $38.93, for a total value of $311,440.00. Following the completion of the transaction, the chief financial officer owned 286,020 shares in the company, valued at $11,134,758.60. The trade was a 2.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Joshua J. Ofman sold 9,692 shares of GRAIL stock in a transaction that occurred on Monday, June 30th. The stock was sold at an average price of $52.00, for a total transaction of $503,984.00. Following the completion of the transaction, the president owned 492,076 shares of the company's stock, valued at $25,587,952. This represents a 1.93% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 357,492 shares of company stock valued at $17,645,718. 1.85% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group increased their target price on shares of GRAIL from $32.00 to $43.00 and gave the stock a "buy" rating in a research note on Wednesday, May 14th.

GRAIL 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.