Westmount Partners LLC Buys New Holdings in GRAIL, Inc. (NASDAQ:GRAL)

Westmount Partners LLC bought a new stake in GRAIL, Inc. (NASDAQ:GRAL - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 8,029 shares of the company's stock, valued at approximately $205,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Arizona State Retirement System bought a new stake in shares of GRAIL during the 1st quarter valued at $220,000. Cerity Partners LLC bought a new stake in shares of GRAIL during the 1st quarter valued at $394,000. Moloney Securities Asset Management LLC raised its stake in shares of GRAIL by 22.1% during the 1st quarter. Moloney Securities Asset Management LLC now owns 38,266 shares of the company's stock valued at $977,000 after purchasing an additional 6,930 shares during the period. Crown Wealth Group LLC bought a new stake in shares of GRAIL during the 1st quarter valued at $217,000. Finally, KBC Group NV raised 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 during the period.

Insiders Place Their Bets

In other news, President Joshua J. Ofman sold 48,213 shares of the company's stock in a transaction dated 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 transaction, the president directly owned 511,460 shares in the company, valued at approximately $17,353,837.80. This represents a 8.61% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Chun R. Ding sold 339,800 shares of the company's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $49.53, for a total value of $16,830,294.00. Following the completion of the transaction, the insider owned 3,305,055 shares of the company's stock, valued at $163,699,374.15. The trade was a 9.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 540,890 shares of company stock valued at $23,868,412 in the last ninety days. Corporate insiders own 1.85% of the company's stock.

GRAIL Stock Performance

GRAIL stock traded down $0.69 during midday trading on Thursday, hitting $35.92. 990,154 shares of the company's stock were exchanged, compared to its average volume of 1,166,481. GRAIL, Inc. has a 52-week low of $12.33 and a 52-week high of $63.99. The stock has a 50-day moving average price of $41.81 and a two-hundred day moving average price of $34.08. The company has a market cap of $1.29 billion and a P/E ratio of -0.59.

GRAIL (NASDAQ:GRAL - Get Free Report) last posted its earnings results 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 return on equity of 17.99% and a negative net margin of 1,464.53%. The business had revenue of $31.84 million during the quarter, compared to analysts' expectations of $35.80 million. As a group, sell-side analysts expect that GRAIL, Inc. will post -15.15 earnings per share for the current year.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group boosted their price objective on GRAIL from $32.00 to $43.00 and gave the company 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.