Graham Capital Management L.P. Buys New Stake in Grail, Inc. (NASDAQ:GRAL)

Graham Capital Management L.P. bought a new stake in Grail, Inc. (NASDAQ:GRAL) during the fourth quarter, HoldingsChannel reports. The institutional investor bought 15,447 shares of the company’s stock, valued at approximately $276,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. State of Tennessee Department of Treasury purchased a new stake in Grail in the 4th quarter valued at approximately $28,000. Lindbrook Capital LLC purchased a new stake in Grail in the 4th quarter valued at approximately $28,000. Sterling Capital Management LLC purchased a new stake in Grail in the 4th quarter valued at approximately $29,000. Wellington Shields Capital Management LLC purchased a new stake in Grail in the 4th quarter valued at approximately $33,000. Finally, Public Employees Retirement Association of Colorado purchased a new stake in Grail in the 4th quarter valued at approximately $50,000.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on GRAL shares. Morgan Stanley upped their target price on Grail from $16.00 to $20.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 18th. Canaccord Genuity Group boosted their price target on Grail from $32.00 to $43.00 and gave the company a “buy” rating in a report on Wednesday.

Grail Stock Performance

Shares of GRAL opened at $39.91 on Friday. The stock has a fifty day moving average of $30.01 and a two-hundred day moving average of $26.65. The company has a market capitalization of $1.41 billion and a PE ratio of -0.65. Grail, Inc. has a fifty-two week low of $12.33 and a fifty-two week high of $63.99.

Grail (NASDAQ:GRAL) last issued its quarterly earnings results on Tuesday, May 13th. The company reported ($3.10) earnings per share for the quarter, beating the consensus estimate of ($4.03) by $0.93. The business had revenue of $31.84 million during the quarter, compared to analyst estimates of $35.80 million. As a group, equities research analysts forecast that Grail, Inc. will post -15.15 earnings per share for the current fiscal year.

Insider Buying and Selling at Grail

In related news, President Joshua J. Ofman sold 2,109 shares of Grail stock in a transaction on Friday, March 7th. The stock was sold at an average price of $31.20, for a total value of $65,800.80. Following the transaction, the president now owns 559,673 shares in the company, valued at approximately $17,461,797.60. This trade represents a 0.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Robert P. Ragusa sold 7,625 shares of the business’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $31.21, for a total value of $237,976.25. Following the sale, the chief executive officer now directly owns 828,662 shares of the company’s stock, valued at approximately $25,862,541.02. This trade represents a 0.91% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 194,948 shares of company stock worth $6,583,130. Insiders own 1.85% of the company’s stock.

Grail 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.