Wealthquest Corp Makes New $18.25 Million Investment in GRAIL, Inc. (NASDAQ:GRAL)

Key Points

• Wealthquest Corp has made a new investment of approximately $18.25 million in GRAIL, Inc., acquiring 714,462 shares, which constitutes 0.8% of Wealthquest's portfolio.
• Canaccord Genuity Group has raised GRAIL's price target from $32.00 to $43.00, also issuing a "buy" rating for the stock.
• Insider selling activity included President Joshua J. Ofman and major shareholder Chun R. Ding, who sold large quantities of their shares, decreasing their holdings in the company.

Wealthquest Corp acquired a new stake in GRAIL, Inc. (NASDAQ:GRAL - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 714,462 shares of the company's stock, valued at approximately $18,247,000. GRAIL accounts for approximately 0.8% of Wealthquest Corp's portfolio, making the stock its 25th biggest holding. Wealthquest Corp owned approximately 2.02% of GRAIL at the end of the most recent quarter.

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

GRAIL Stock Down 4.2%

Shares of GRAL traded down $1.42 during trading hours on Friday, reaching $32.79. 850,207 shares of the company traded hands, compared to its average volume of 997,181. The company's fifty day moving average price is $41.43 and its two-hundred day moving average price is $35.46. The company has a market capitalization of $1.18 billion, a price-to-earnings ratio of -0.54 and a beta of 3.29. 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 quarterly earnings data on Tuesday, May 13th. The company reported ($3.10) EPS for the quarter, topping 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 for the quarter, compared to analyst estimates of $35.80 million. On average, analysts expect that GRAIL, Inc. will post -15.15 EPS for the current year.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In related news, CFO Aaron Freidin sold 8,000 shares of the business's stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $38.93, for a total transaction of $311,440.00. Following the sale, 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 legal filing with the SEC, which is available at this link. Also, major shareholder Chun R. Ding sold 339,800 shares of the business's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $49.53, for a total transaction of $16,830,294.00. Following the sale, the insider directly owned 3,305,055 shares in the company, valued at $163,699,374.15. The trade was a 9.32% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 357,492 shares of company stock valued at $17,645,718 over the last quarter. Corporate insiders own 1.85% of the company's stock.

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.