Cambridge Investment Research Advisors Inc. Sells 8,612 Shares of GRAIL, Inc. (NASDAQ:GRAL)

Cambridge Investment Research Advisors Inc. decreased its position in shares of GRAIL, Inc. (NASDAQ:GRAL) by 42.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,715 shares of the company’s stock after selling 8,612 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in GRAIL were worth $299,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Sessa Capital IM L.P. acquired a new position in GRAIL during the fourth quarter worth $53,550,000. Primecap Management Co. CA acquired a new stake in shares of GRAIL in the 4th quarter valued at approximately $37,118,000. Baker BROS. Advisors LP bought a new position in GRAIL in the 4th quarter valued at approximately $29,098,000. Vanguard Group Inc. bought a new position in GRAIL during the 4th quarter worth approximately $25,902,000. Finally, Jacobs Levy Equity Management Inc. bought a new position in GRAIL during the 4th quarter worth approximately $18,209,000.

Wall Street Analyst Weigh In

Several research analysts have weighed in on GRAL shares. Morgan Stanley upped their price objective on shares of GRAIL from $16.00 to $20.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 18th. Canaccord Genuity Group upped their price target on GRAIL from $32.00 to $43.00 and gave the company a “buy” rating in a research report on Wednesday, May 14th.

GRAIL Stock Performance

Shares of GRAIL stock opened at $40.73 on Friday. The company’s 50 day moving average price is $41.54 and its 200-day moving average price is $33.66. GRAIL, Inc. has a 52-week low of $12.33 and a 52-week high of $63.99. The stock has a market capitalization of $1.47 billion and a price-to-earnings ratio of -0.67.

GRAIL (NASDAQ:GRAL) last posted its quarterly earnings results on Tuesday, May 13th. The company reported ($3.10) earnings per share (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 firm had revenue of $31.84 million during the quarter, compared to analyst estimates of $35.80 million. As a group, equities research analysts forecast that GRAIL, Inc. will post -15.15 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Robert P. Ragusa sold 94,035 shares of the firm’s stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $33.93, for a total transaction of $3,190,607.55. Following the transaction, the chief executive officer owned 734,627 shares in the company, valued at approximately $24,925,894.11. This trade represents a 11.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, President Joshua J. Ofman sold 48,213 shares of the firm’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 sale, the president directly owned 511,460 shares of the company’s stock, valued at approximately $17,353,837.80. This represents a 8.61% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 532,890 shares of company stock valued at $23,556,972. Insiders own 1.85% of the company’s stock.

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.