Joshua Ofman Sells 6,114 Shares of GRAIL (NASDAQ:GRAL) Stock

Key Points

• Joshua Ofman, President of GRAIL, Inc., sold 6,114 shares of stock for a total value of $501,409.14, decreasing his holdings by 1.58%.
• GRAIL's stock rose by $10.89 during trading, closing at $86.41, with a market capitalization of $3.11 billion.
• Analysts have mixed ratings on GRAIL, with one "Buy," three "Hold," and one "Sell," while the consensus price target stands at $56.67.

GRAIL, Inc. (NASDAQ:GRAL - Get Free Report) President Joshua Ofman sold 6,114 shares of the firm's stock in a transaction on Thursday, October 16th. The shares were sold at an average price of $82.01, for a total value of $501,409.14. Following the transaction, the president directly owned 381,818 shares of the company's stock, valued at $31,312,894.18. This represents a 1.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

GRAIL Stock Performance

Shares of GRAIL stock traded up $10.89 during trading on Thursday, hitting $86.41. The company's stock had a trading volume of 2,082,810 shares, compared to its average volume of 1,271,702. GRAIL, Inc. has a 52 week low of $12.76 and a 52 week high of $89.57. The company has a market capitalization of $3.11 billion, a PE ratio of -6.59 and a beta of 4.11. The company has a fifty day simple moving average of $44.22 and a two-hundred day simple moving average of $39.30.

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

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on GRAL shares. Weiss Ratings reiterated a "sell (d-)" rating on shares of GRAIL in a research note on Wednesday, October 8th. Canaccord Genuity Group lifted their target price on shares of GRAIL from $43.00 to $75.00 and gave the stock a "buy" rating in a report on Friday, October 3rd. Finally, UBS Group set a $75.00 price target on GRAIL in a report on Friday, October 3rd. One analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, GRAIL currently has a consensus rating of "Hold" and an average price target of $56.67.

Institutional Investors Weigh In On GRAIL

A number of large investors have recently added to or reduced their stakes in the stock. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of GRAIL by 21.4% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 34,195 shares of the company's stock valued at $1,758,000 after buying an additional 6,032 shares during the period. GAMMA Investing LLC increased its position in GRAIL by 4,102.5% during the first quarter. GAMMA Investing LLC now owns 25,131 shares of the company's stock valued at $642,000 after acquiring an additional 24,533 shares during the last quarter. Scientech Research LLC purchased a new stake in GRAIL during the first quarter valued at $644,000. Wesbanco Bank Inc. lifted its holdings in GRAIL by 39.1% in the second quarter. Wesbanco Bank Inc. now owns 44,500 shares of the company's stock valued at $2,288,000 after acquiring an additional 12,500 shares during the period. Finally, Dakota Wealth Management purchased a new position in GRAIL in the second quarter worth about $2,656,000.

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.