TCW Group Inc. Sells 27,822 Shares of GRAIL, Inc. (NASDAQ:GRAL)

Key Points

• TCW Group Inc. reduced its stake in GRAIL, Inc. by 9.7% in the 1st quarter, owning 257,613 shares worth approximately $6.58 million following the sale of 27,822 shares.
• CEO Robert P. Ragusa sold 94,035 shares at an average price of $33.93, while major shareholder Chun R. Ding sold 339,800 shares at an average price of $49.53, reflecting a decrease in their ownership stakes.
• GRAIL reported quarterly earnings of ($3.10) per share, exceeding estimates, but with revenue of $31.84 million, which was below analyst expectations.

TCW Group Inc. trimmed its stake in GRAIL, Inc. (NASDAQ:GRAL - Free Report) by 9.7% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 257,613 shares of the company's stock after selling 27,822 shares during the quarter. TCW Group Inc. owned approximately 0.73% of GRAIL worth $6,579,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the stock. State of Tennessee Department of Treasury acquired a new position in GRAIL in the 4th quarter valued at $28,000. Caldwell Sutter Capital Inc. acquired a new position in GRAIL in the 1st quarter valued at $28,000. Sterling Capital Management LLC acquired a new position in GRAIL in the 4th quarter valued at $29,000. KBC Group NV raised its holdings in GRAIL by 187.7% in the 1st quarter. KBC Group NV now owns 1,430 shares of the company's stock valued at $37,000 after acquiring an additional 933 shares in the last quarter. Finally, S.A. Mason LLC raised its holdings in GRAIL by 50.1% in the 1st quarter. S.A. Mason LLC now owns 1,499 shares of the company's stock valued at $38,000 after acquiring an additional 500 shares in the last quarter.

Insider Buying and Selling

In other GRAIL news, President Joshua J. Ofman sold 9,692 shares of the company's stock in a transaction dated Monday, June 30th. The stock was sold at an average price of $52.00, for a total value of $503,984.00. Following the sale, the president owned 492,076 shares in the company, valued at approximately $25,587,952. The trade was a 1.93% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Aaron Freidin sold 8,000 shares of the company's stock in a transaction dated 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 sale, the chief financial officer owned 286,020 shares in the company, valued at $11,134,758.60. This trade represents a 2.72% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 540,890 shares of company stock worth $23,868,412. Corporate insiders own 1.85% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group lifted their price objective on GRAIL from $32.00 to $43.00 and gave the company a "buy" rating in a report on Wednesday, May 14th.

GRAIL Stock Performance

Shares of GRAIL stock traded up $0.99 during trading on Thursday, reaching $34.76. 398,082 shares of the company's stock were exchanged, compared to its average volume of 1,405,451. GRAIL, Inc. has a 1-year low of $12.33 and a 1-year high of $63.99. The company has a market cap of $1.25 billion and a P/E ratio of -0.57. The firm's 50-day moving average price is $41.67 and its 200 day moving average price is $35.25.

GRAIL (NASDAQ:GRAL - Get Free Report) last issued its quarterly earnings data on Tuesday, May 13th. The company reported ($3.10) earnings per share for the quarter, topping analysts' consensus estimates of ($4.03) by $0.93. The business had revenue of $31.84 million for the quarter, compared to analyst estimates of $35.80 million. GRAIL had a negative return on equity of 17.99% and a negative net margin of 1,464.53%. As a group, equities research analysts predict that GRAIL, Inc. will post -15.15 EPS for the current 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.