GRAIL (NASDAQ:GRAL) Trading Down 4% Following Insider Selling

Key Points

• GRAIL's stock (NASDAQ:GRAL) fell by 4% following insider selling, with President Joshua J. Ofman selling 9,692 shares at an average price of $64.00.
• Equity analysts have issued mixed ratings for GRAIL, with one analyst recommending a buy and another a sell, while the company has a consensus rating of "Hold" and a target price of $56.67.
• GRAIL reported quarterly earnings missing estimates, with an EPS of (3.18) compared to expectations of (3.14), and a revenue of $35.54 million, below the forecast of $37.57 million.

GRAIL, Inc. (NASDAQ:GRAL - Get Free Report) shares were down 4% on Monday after an insider sold shares in the company. The company traded as low as $60.02 and last traded at $62.95. Approximately 494,947 shares traded hands during trading, a decline of 61% from the average daily volume of 1,277,161 shares. The stock had previously closed at $65.55.

Specifically, President Joshua J. Ofman sold 9,692 shares of the company's stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $64.00, for a total value of $620,288.00. Following the transaction, the president directly owned 478,182 shares in the company, valued at $30,603,648. The trade was a 1.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Weiss Ratings restated a "sell (d-)" rating on shares of GRAIL in a research note on Saturday, September 27th. Canaccord Genuity Group increased their price objective on shares of GRAIL from $43.00 to $75.00 and gave the stock a "buy" rating in a research note on Friday. Finally, UBS Group set a $75.00 price objective on shares of GRAIL in a research note on Friday. One investment analyst has rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $56.67.

GRAIL Trading Down 3.5%

The firm's 50-day moving average is $38.69 and its 200-day moving average is $37.25. The firm has a market cap of $2.28 billion, a price-to-earnings ratio of -4.82 and a beta of 4.11.

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

Institutional Trading of GRAIL

Hedge funds have recently bought and sold shares of the business. Caldwell Sutter Capital Inc. bought a new position in GRAIL during the 1st quarter valued at $28,000. KBC Group NV lifted its stake in 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 acquiring an additional 933 shares in the last quarter. S.A. Mason LLC lifted its stake in GRAIL by 50.1% during the 1st quarter. S.A. Mason LLC now owns 1,499 shares of the company's stock valued at $38,000 after acquiring an additional 500 shares in the last quarter. Farther Finance Advisors LLC lifted its stake in GRAIL by 768.1% during the 2nd quarter. Farther Finance Advisors LLC now owns 816 shares of the company's stock valued at $42,000 after acquiring an additional 722 shares in the last quarter. Finally, NewEdge Advisors LLC lifted its stake in GRAIL by 390.3% during the 1st quarter. NewEdge Advisors LLC now owns 1,760 shares of the company's stock valued at $45,000 after acquiring an additional 1,401 shares in 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.