8 Stocks Jeff Bezos is Buying

4.  GRAIL, Inc. (NASDAQ:GRAL)

Number of Hedge Fund Holders: 32

GRAIL, Inc. (NASDAQ:GRAL), a biotechnology company based in Menlo Park, California, was originally a startup and former subsidiary of Illumina. It focuses on developing early cancer screening tests for asymptomatic individuals.

Following its separation from Illumina, GRAIL, Inc. (NASDAQ:GRAL) expects to record a significant goodwill impairment charge, estimated at $888.9 million, tied to the application of pushdown accounting after its acquisition by Illumina. Additionally, the company foresees a large impairment charge for its in-process research and development (IPR&D) assets, valued at $560.0 million.

In August of this year, GRAIL, Inc. (NASDAQ:GRAL) reported its first results as an independent public company. Q2 2024 revenue reached $32.0 million, marking a 43% year-over-year increase, although the company posted a net loss of $1.6 billion for the quarter, including amortization and impairment of acquisition-related intangibles. Gross loss came in at $17.9 million, while non-GAAP adjusted gross profit stood at $16.0 million, and non-GAAP adjusted EBITDA was $139.4 million.

As of Q2 2024, 32 hedge funds rerported holding shares of the biotech company, with a total stake value coming in at $91.6 million.