Wealthquest Corp Takes $18.25 Million Position 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 bought a new position in shares of GRAIL, Inc. (NASDAQ:GRAL - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor bought 714,462 shares of the company's stock, valued at approximately $18,247,000. GRAIL accounts for about 0.8% of Wealthquest Corp's holdings, making the stock its 25th largest position. Wealthquest Corp owned about 2.02% of GRAIL at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Caldwell Sutter Capital Inc. acquired a new position in GRAIL during the 1st quarter worth approximately $28,000. KBC Group NV boosted its holdings in shares of 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 buying an additional 933 shares in the last quarter. S.A. Mason LLC boosted its holdings in shares of 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 buying an additional 500 shares in the last quarter. State of Tennessee Department of Treasury acquired a new position in shares of GRAIL in the 4th quarter valued at $28,000. Finally, Sterling Capital Management LLC acquired a new position in shares of GRAIL in the 4th quarter valued at $29,000.

GRAIL Stock Performance

GRAIL stock traded up $0.44 during trading hours on Monday, reaching $33.23. 613,063 shares of the stock were exchanged, compared to its average volume of 1,399,355. The stock has a market cap of $1.20 billion, a P/E ratio of -0.54 and a beta of 3.29. GRAIL, Inc. has a 52-week low of $12.33 and a 52-week high of $63.99. The firm's 50 day moving average is $41.43 and its 200 day moving average is $35.71.

GRAIL (NASDAQ:GRAL - Get Free Report) last posted its earnings results on Tuesday, May 13th. The company reported ($3.10) earnings per share 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 firm had revenue of $31.84 million during the quarter, compared to the consensus estimate of $35.80 million. Equities research analysts expect that GRAIL, Inc. will post -15.15 EPS for the current fiscal year.

Insider Buying and Selling at GRAIL

In other GRAIL news, CFO Aaron Freidin sold 8,000 shares of the firm'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 directly owned 286,020 shares of the company's stock, valued at $11,134,758.60. This trade represents a 2.72% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President Joshua J. Ofman sold 9,692 shares of the firm's stock in a transaction dated Monday, June 30th. The stock was sold at an average price of $52.00, for a total transaction of $503,984.00. Following the sale, the president directly owned 492,076 shares in the company, valued at $25,587,952. This represents a 1.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 357,492 shares of company stock worth $17,645,718. 1.85% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

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

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.