Geode Capital Management LLC Increases Stock Holdings in GRAIL, Inc. $GRAL

Geode Capital Management LLC boosted its holdings in shares of GRAIL, Inc. (NASDAQ:GRAL) by 60.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 757,770 shares of the company’s stock after buying an additional 285,331 shares during the quarter. Geode Capital Management LLC owned approximately 2.11% of GRAIL worth $38,969,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in GRAL. PNC Financial Services Group Inc. lifted its holdings in GRAIL by 38.9% during the second quarter. PNC Financial Services Group Inc. now owns 8,450 shares of the company’s stock valued at $434,000 after purchasing an additional 2,365 shares in the last quarter. Nwam LLC increased its holdings in shares of GRAIL by 93.0% in the 2nd quarter. Nwam LLC now owns 20,613 shares of the company’s stock worth $1,060,000 after buying an additional 9,932 shares during the last quarter. ProShare Advisors LLC bought a new stake in shares of GRAIL in the 2nd quarter valued at approximately $391,000. 1ST Source Bank lifted its position in GRAIL by 18.3% in the second quarter. 1ST Source Bank now owns 10,042 shares of the company’s stock worth $516,000 after buying an additional 1,555 shares during the last quarter. Finally, Cypress Capital Management LLC WY bought a new position in GRAIL during the 2nd quarter valued at about $72,000.

GRAIL Stock Performance

Shares of GRAIL stock opened at $110.16 on Thursday. The company has a market cap of $4.29 billion, a P/E ratio of -9.47 and a beta of 4.31. The firm has a 50-day simple moving average of $76.05 and a two-hundred day simple moving average of $51.69. GRAIL, Inc. has a fifty-two week low of $16.10 and a fifty-two week high of $115.76.

GRAIL (NASDAQ:GRAL) last posted its quarterly earnings data on Wednesday, November 12th. The company reported ($2.46) EPS for the quarter, beating analysts’ consensus estimates of ($3.40) by $0.94. GRAIL had a negative return on equity of 15.69% and a negative net margin of 286.43%.The business had revenue of $36.19 million during the quarter, compared to analysts’ expectations of $33.83 million. Equities research analysts forecast that GRAIL, Inc. will post -15.15 EPS for the current year.

Wall Street Analysts Forecast Growth

GRAL has been the subject of several research analyst reports. Canaccord Genuity Group lifted their target price on GRAIL from $85.00 to $105.00 and gave the stock a “buy” rating in a research report on Monday, November 17th. UBS Group set a $75.00 price objective on GRAIL in a research report on Friday, October 3rd. Guggenheim raised shares of GRAIL from a “neutral” rating to a “buy” rating and set a $100.00 price target on the stock in a report on Wednesday, November 12th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of GRAIL in a report on Wednesday, October 8th. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $75.00.

Insider Activity

In other GRAIL news, CEO Robert P. Ragusa sold 7,239 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer directly owned 727,388 shares in the company, valued at approximately $50,102,485.44. The trade was a 0.99% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Joshua J. Ofman sold 6,114 shares of the 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 completion of the transaction, the president directly owned 381,818 shares of the company’s stock, valued at approximately $31,312,894.18. This represents a 1.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 113,295 shares of company stock worth $7,380,888. 1.85% of the stock is currently owned by insiders.

GRAIL Company 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.