Reynders McVeigh Capital Management LLC Reduces Holdings in GRAIL, Inc. $GRAL

by · The Cerbat Gem

Reynders McVeigh Capital Management LLC reduced its position in GRAIL, Inc. (NASDAQ:GRAL – Free Report) by 40.1% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 71,304 shares of the company’s stock after selling 47,761 shares during the quarter. Reynders McVeigh Capital Management LLC’s holdings in GRAIL were worth $4,868,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GRAL. The Manufacturers Life Insurance Company grew its holdings in shares of GRAIL by 26.3% during the second quarter. The Manufacturers Life Insurance Company now owns 21,597 shares of the company’s stock worth $1,474,000 after buying an additional 4,498 shares in the last quarter. Integrated Wealth Concepts LLC purchased a new position in shares of GRAIL in the second quarter worth about $82,000. Arizona State Retirement System lifted its stake in shares of GRAIL by 8.6% in the second quarter. Arizona State Retirement System now owns 10,470 shares of the company’s stock worth $715,000 after buying an additional 833 shares in the last quarter. Nykredit A S acquired a new position in GRAIL during the second quarter worth about $96,000. Finally, HighTower Advisors LLC boosted its position in GRAIL by 3.5% during the second quarter. HighTower Advisors LLC now owns 40,565 shares of the company’s stock worth $2,769,000 after acquiring an additional 1,357 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of research firms have commented on GRAL. UBS Group began coverage on shares of GRAIL in a report on Wednesday, September 9th. They issued a “buy” rating and a $105.00 price objective for the company. Weiss Ratings restated a “sell (d-)” rating on shares of GRAIL in a research report on Friday, July 17th. The Goldman Sachs Group initiated coverage on GRAIL in a report on Friday, June 5th. They issued a “neutral” rating and a $60.00 price target for the company. Wall Street Zen upgraded GRAIL from a “sell” rating to a “hold” rating in a research report on Sunday. Finally, Wolfe Research assumed coverage on GRAIL in a research note on Tuesday, June 2nd. They set a “peer perform” rating on the stock. Five research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, GRAIL presently has an average rating of “Hold” and a consensus price target of $71.11.

Read Our Latest Stock Analysis on GRAL

Insider Buying and Selling at GRAIL

In other news, CFO Aaron Freidin sold 7,900 shares of the company’s stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $85.01, for a total value of $671,579.00. Following the transaction, the chief financial officer owned 253,083 shares of the company’s stock, valued at $21,514,585.83. This represents a 3.03% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Joshua J. Ofman sold 5,000 shares of the stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $85.02, for a total value of $425,100.00. Following the transaction, the chief executive officer owned 397,271 shares of the company’s stock, valued at approximately $33,775,980.42. This represents a 1.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.83% of the stock is owned by company insiders.

GRAIL Stock Up 0.5%

Shares of GRAIL stock traded up $0.36 during mid-day trading on Tuesday, hitting $75.89. The stock had a trading volume of 1,514,615 shares, compared to its average volume of 904,530. The firm has a 50-day moving average of $73.62 and a two-hundred day moving average of $62.86. The firm has a market cap of $3.39 billion, a P/E ratio of -7.78 and a beta of 3.25. GRAIL, Inc. has a 12-month low of $36.98 and a 12-month high of $118.84.

GRAIL (NASDAQ:GRAL – Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported ($2.56) EPS for the quarter, beating the consensus estimate of ($2.66) by $0.10. GRAIL had a negative net margin of 236.95% and a negative return on equity of 15.88%. The firm had revenue of $44.69 million for the quarter, compared to analyst estimates of $42.39 million. Sell-side analysts expect that GRAIL, Inc. will post -10.41 earnings per share for the current year.

GRAIL Profile

(Free Report)

GRAIL, Inc is a healthcare company focused on developing blood-based tests for the early detection of cancer. Its technology uses genomic and epigenomic signals, including patterns of DNA methylation, to identify signals associated with multiple cancer types from a single blood sample.

The company’s primary product is Galleri, a prescription blood test designed to screen for signals of more than 50 types of cancer, including cancers that currently lack recommended screening methods. Galleri is intended to complement, not replace, guideline-recommended cancer screenings, and a positive result requires follow-up diagnostic testing to determine whether cancer is present and where it may be located.

GRAIL was founded in 2016 as a subsidiary of Illumina and became an independent publicly traded company following its separation from Illumina in 2021.

See Also

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