Carnegie Investment Counsel Increases Stake in GRAIL, Inc. $GRAL

Carnegie Investment Counsel boosted its stake in GRAIL, Inc. (NASDAQ:GRAL) by 48.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 245,315 shares of the company’s stock after purchasing an additional 79,630 shares during the quarter. Carnegie Investment Counsel owned about 0.68% of GRAIL worth $14,505,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. AQR Capital Management LLC grew its stake 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 valued at $33,991,000 after buying an additional 506,440 shares during the period. Geode Capital Management LLC boosted its holdings in GRAIL by 60.4% in the second quarter. Geode Capital Management LLC now owns 757,770 shares of the company’s stock valued at $38,969,000 after acquiring an additional 285,331 shares during the last quarter. Invesco Ltd. grew its position in GRAIL by 259.1% during the second quarter. Invesco Ltd. now owns 218,671 shares of the company’s stock valued at $11,244,000 after acquiring an additional 157,780 shares during the period. Allianz Asset Management GmbH acquired a new stake in GRAIL during the second quarter worth about $6,164,000. Finally, Pier Capital LLC purchased a new position in shares of GRAIL in the 2nd quarter worth about $5,538,000.

GRAIL Trading Down 0.3%

GRAL stock opened at $91.59 on Friday. The stock’s 50 day simple moving average is $91.30 and its 200 day simple moving average is $60.25. GRAIL, Inc. has a 12-month low of $16.56 and a 12-month high of $115.76. The firm has a market cap of $3.57 billion, a P/E ratio of -7.88 and a beta of 4.23.

GRAIL (NASDAQ:GRAL) last issued its earnings results on Wednesday, November 12th. The company reported ($2.46) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($3.40) by $0.94. The firm had revenue of $36.19 million for the quarter, compared to analysts’ expectations of $33.83 million. GRAIL had a negative net margin of 286.43% and a negative return on equity of 15.69%. On average, research analysts forecast that GRAIL, Inc. will post -15.15 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Canaccord Genuity Group boosted their price objective on shares of GRAIL from $85.00 to $105.00 and gave the stock a “buy” rating in a research note on Monday, November 17th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of GRAIL in a research report on Wednesday, October 8th. Morgan Stanley increased their target price on GRAIL from $85.00 to $110.00 and gave the company an “equal weight” rating in a research note on Monday, December 1st. Guggenheim raised GRAIL from a “neutral” rating to a “buy” rating and set a $100.00 price target on the stock in a research report on Wednesday, November 12th. Finally, UBS Group set a $75.00 price objective on shares of GRAIL in a research report on Friday, October 3rd. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $97.50.

Insider Buying and Selling at GRAIL

In other news, CEO Robert P. Ragusa sold 7,239 shares of the firm’s stock in a transaction on Wednesday, October 15th. The stock was sold at an average price of $68.88, for a total transaction of $498,622.32. Following the transaction, the chief executive officer directly owned 727,388 shares of the company’s stock, valued at approximately $50,102,485.44. This trade represents a 0.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Joshua J. Ofman sold 6,114 shares of GRAIL stock in a transaction dated Thursday, October 16th. The shares were sold at an average price of $82.01, for a total transaction of $501,409.14. Following the sale, the president owned 381,818 shares in the company, valued at approximately $31,312,894.18. This represents a 1.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 113,295 shares of company stock worth $7,380,888 in the last ninety days. 1.85% of the stock is owned by company insiders.

GRAIL Profile

GRAIL, Inc (NASDAQ: GRAL) is a biotechnology company dedicated to the early detection of cancer through a multi-cancer blood test. Leveraging advances in next-generation sequencing, cell-free DNA (cfDNA) analysis and machine learning, GRAIL has developed the Galleri™ test, which aims to identify more than 50 types of cancer at their earliest stages. The company’s platform analyzes methylation patterns in circulating tumor DNA to pinpoint tumor presence and tissue of origin, enabling physicians to pursue timely diagnostic follow-up.

Founded in 2016 as a spin-out from Illumina, GRAIL established its headquarters in Menlo Park, California, with additional research and operations centers in the United Kingdom.