Raul Valle, the 16-year-old Connecticut high schooler accused of fatally stabbing a teen from another Catholic school outside a party earlier this month, has been released on $2 million bond, according to local reports.

Valle, of Milford, posted $2 million bond last week after a judge refused his lawyer’s request to cut it in half, the Connecticut Post reported.

He was released the same day.

Connecticut 17-year-old stabbing victim Jimmy McGrath

Mourners set up a heart-shaped memorial outside the Shelton, Connecticut home where four teens were stabbed in a fight. Inset: Fairfield Prep student James "Jimmy" McGrath. (Fairfield College Preparatory School/ Fox News Digital)

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A May 14 house party turned violent after Valle and a group of other teens allegedly crashed the event and kicked off a fight involving as many as 25 teens, according to a police report.

Three teens were stabbed, including James "Jimmy" McGrath, a 17-year-old from Shelton who played lacrosse at the nearby Fairfield College Preparatory School.

Raul Valle's home in Shelton, Connecticut.

High school stabbing suspect Raul Valle's home in Shelton, Connecticut. (Fox News Digital)

"Multiple witnesses reported that three to four people who were not invited to the party arrived and exited a dark colored Honda SUV," the police report states. "Witnesses further stated that when the parties exited the vehicle a physical altercation with multiple male participants took place on the front lawn."

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McGrath died from a stab wound to the heart, according to authorities.

A representative from St. Joseph High School, where Valle attended in Trumbull, told Fox News Digital that the teen was in good academic standing and had not been in any fights at school before the May 14 incident.

James McGrath played lacrosse for Fairfield Prep

James McGrath poses in his lacrosse uniform. (Fairfield College Preparatory School)

"They were very friendly. The kids are polite and respectful," Valle's neighbor told Fox News Digital of the suspect and his family. "This is hard to believe."

Valle faces one charge of murder and two counts of first-degree assault.

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Additional charges could be possible as investigators continue to look into the parties involved in the fight.