GRAIL (NASDAQ:GRAL) Reaches New 1-Year High - Here's What Happened

Key Points

• GRAIL, Inc. shares reached a new 52-week high of $64.20 during trading, with the last price at $62.62 and a trading volume of 124,599 shares.
• The company's most recent earnings report revealed an EPS of ($3.18), missing analysts' estimates, while revenue for the quarter was $35.54 million compared to expectations of $37.57 million.
• Recent insider transactions included President Joshua J. Ofman selling 4,202 shares at an average price of $32.02, decreasing his position by 0.85%.

Shares of GRAIL, Inc. (NASDAQ:GRAL - Get Free Report) hit a new 52-week high during trading on Thursday . The stock traded as high as $64.20 and last traded at $62.62, with a volume of 124599 shares trading hands. The stock had previously closed at $62.06.

GRAIL Stock Up 2.2%

The stock's 50-day moving average price is $37.68 and its 200 day moving average price is $36.62. The company has a market cap of $2.29 billion, a P/E ratio of -4.85 and a beta of 4.07.

GRAIL (NASDAQ:GRAL - Get Free Report) last posted its earnings results on Tuesday, August 12th. The company reported ($3.18) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($3.14) by ($0.04). The firm had revenue of $35.54 million during the quarter, compared to analyst estimates of $37.57 million. GRAIL had a negative net margin of 329.86% and a negative return on equity of 16.64%. Analysts expect that GRAIL, Inc. will post -15.15 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, President Joshua J. Ofman sold 4,202 shares of the business's stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $32.02, for a total transaction of $134,548.04. Following the transaction, the president owned 487,874 shares in the company, valued at approximately $15,621,725.48. The trade was a 0.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Aaron Freidin sold 8,000 shares of the company'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 transaction, the chief financial officer directly owned 286,020 shares of the company's stock, valued at $11,134,758.60. This represents a 2.72% decrease in their position. The disclosure for this sale can be found here. 1.85% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Wealthquest Corp acquired a new position in GRAIL in the first quarter worth about $18,247,000. AQR Capital Management LLC increased its position in shares of GRAIL by 61.0% during the 1st quarter. AQR Capital Management LLC now owns 1,337,163 shares of the company's stock worth $33,991,000 after purchasing an additional 506,440 shares in the last quarter. Geode Capital Management LLC lifted its holdings in GRAIL by 60.4% during the 2nd quarter. Geode Capital Management LLC now owns 757,770 shares of the company's stock valued at $38,969,000 after purchasing an additional 285,331 shares during the last quarter. Carnegie Investment Counsel bought a new stake in GRAIL during the second quarter worth about $8,520,000. Finally, Invesco Ltd. grew its position in GRAIL by 259.1% during the 2nd quarter. Invesco Ltd. now owns 218,671 shares of the company's stock worth $11,244,000 after acquiring an additional 157,780 shares during the last quarter.

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.

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