Westwood Holdings Group Inc. Has $832,000 Position in GRAIL, Inc. (NASDAQ:GRAL)

Key Points

• Westwood Holdings Group Inc. has decreased its position in GRAIL, Inc. by 58.1% during the first quarter, now holding 32,584 shares valued at approximately $832,000.
• Major shareholder Chun R. Ding sold 339,800 shares of GRAIL stock for over $16.8 million, reducing their ownership by 9.32%.
• Canaccord Genuity Group has raised its price target for GRAIL shares from $32.00 to $43.00 and assigned a "buy" rating to the stock.

Westwood Holdings Group Inc. decreased its stake in shares of GRAIL, Inc. (NASDAQ:GRAL - Free Report) by 58.1% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 32,584 shares of the company's stock after selling 45,205 shares during the quarter. Westwood Holdings Group Inc. owned about 0.09% of GRAIL worth $832,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Sessa Capital IM L.P. purchased a new position in shares of GRAIL in the 4th quarter valued at about $53,550,000. Baker BROS. Advisors LP purchased a new stake in GRAIL during the 4th quarter valued at approximately $29,098,000. Vanguard Group Inc. purchased a new position in shares of GRAIL during the 4th quarter worth approximately $25,902,000. Jacobs Levy Equity Management Inc. purchased a new position in GRAIL in the 4th quarter valued at approximately $18,209,000. Finally, AQR Capital Management LLC purchased a new position in GRAIL in the 4th quarter valued at approximately $14,828,000.

Analysts Set New Price Targets

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

Insider Transactions at GRAIL

In other news, President Joshua J. Ofman sold 9,692 shares of the business's stock in a transaction that occurred on Monday, June 30th. The stock was sold at an average price of $52.00, for a total transaction of $503,984.00. Following the completion of the transaction, the president directly owned 492,076 shares in the company, valued at approximately $25,587,952. The trade was a 1.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Aaron Freidin sold 8,000 shares of the business's stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $38.93, for a total value of $311,440.00. Following the sale, the chief financial officer directly owned 286,020 shares in the company, valued at approximately $11,134,758.60. The trade was a 2.72% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 357,492 shares of company stock worth $17,645,718.

GRAIL Stock Performance

Shares of NASDAQ GRAL traded up $0.51 during midday trading on Tuesday, reaching $33.20. 318,529 shares of the company's stock were exchanged, compared to its average volume of 1,372,394. The stock has a market capitalization of $1.19 billion, a PE ratio of -0.54 and a beta of 3.26. GRAIL, Inc. has a 52-week low of $12.33 and a 52-week high of $63.99. The business's fifty day moving average price is $40.60 and its two-hundred day moving average price is $36.19.

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