Wealthquest Corp Acquires New Position in GRAIL, Inc. (NASDAQ:GRAL)

Wealthquest Corp acquired a new stake in GRAIL, Inc. (NASDAQ:GRAL - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 714,462 shares of the company's stock, valued at approximately $18,247,000. GRAIL accounts for about 1.8% of Wealthquest Corp's holdings, making the stock its 11th biggest position. Wealthquest Corp owned 2.02% of GRAIL as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Lindbrook Capital LLC acquired a new stake in GRAIL during the fourth quarter worth about $28,000. State of Tennessee Department of Treasury purchased a new stake in GRAIL in the 4th quarter worth approximately $28,000. Caldwell Sutter Capital Inc. acquired a new stake in shares of GRAIL during the 1st quarter worth approximately $28,000. Sterling Capital Management LLC purchased a new position in shares of GRAIL during the 4th quarter valued at approximately $29,000. Finally, Wellington Shields Capital Management LLC acquired a new position in shares of GRAIL in the 4th quarter valued at $33,000.

Insider Activity

In other news, CFO Aaron Freidin sold 41,150 shares of the firm's stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $33.93, for a total value of $1,396,219.50. Following the transaction, the chief financial officer now owns 294,020 shares in the company, valued at $9,976,098.60. This trade represents a 12.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, President Joshua J. Ofman sold 48,213 shares of GRAIL stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $33.93, for a total value of $1,635,867.09. Following the completion of the sale, the president now directly owns 511,460 shares in the company, valued at $17,353,837.80. This represents a 8.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 183,398 shares of company stock worth $6,222,694 over the last 90 days. 1.85% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

GRAL has been the topic of several analyst reports. Canaccord Genuity Group raised 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. Morgan Stanley increased their target price on shares of GRAIL from $16.00 to $20.00 and gave the stock an "equal weight" rating in a research note on Tuesday, March 18th.

GRAIL Trading Up 7.0%

GRAL traded up $3.21 during trading on Thursday, hitting $49.38. The company's stock had a trading volume of 943,208 shares, compared to its average volume of 1,210,713. The firm has a market capitalization of $1.78 billion and a price-to-earnings ratio of -0.81. GRAIL, Inc. has a twelve month low of $12.33 and a twelve month high of $63.99. The business's fifty day simple moving average is $38.37 and its 200 day simple moving average is $31.42.

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, beating analysts' consensus estimates of ($4.03) by $0.93. The firm had revenue of $31.84 million for the quarter, compared to analysts' expectations of $35.80 million. GRAIL had a negative net margin of 1,464.53% and a negative return on equity of 17.99%. As a group, equities research analysts forecast that GRAIL, Inc. will post -15.15 earnings per share for the current fiscal year.

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.