Freestone Grove Partners LP Takes $217,000 Position in Grail, Inc. (NASDAQ:GRAL)

Freestone Grove Partners LP acquired a new position in shares of Grail, Inc. (NASDAQ:GRAL) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 12,163 shares of the company’s stock, valued at approximately $217,000.

A number of other hedge funds have also modified their holdings of GRAL. FNY Investment Advisers LLC acquired a new position in Grail during the 4th quarter worth approximately $26,000. State of Tennessee Department of Treasury acquired a new position in Grail during the fourth quarter worth $28,000. Lindbrook Capital LLC bought a new position in Grail in the fourth quarter valued at $28,000. Sterling Capital Management LLC acquired a new stake in Grail in the 4th quarter valued at $29,000. Finally, Wellington Shields Capital Management LLC bought a new stake in Grail during the 4th quarter worth about $33,000.

Analyst Ratings Changes

GRAL has been the subject of several analyst reports. Morgan Stanley raised their price objective on Grail from $16.00 to $20.00 and gave the company an “equal weight” rating in a report on Tuesday, March 18th. Canaccord Genuity Group initiated coverage on Grail in a research report on Monday, April 21st. They set a “buy” rating and a $32.00 price target on the stock.

Grail Price Performance

Shares of GRAL opened at $34.26 on Tuesday. The firm has a 50-day moving average of $29.89 and a 200-day moving average of $25.29. Grail, Inc. has a one year low of $12.33 and a one year high of $63.99.

Grail (NASDAQ:GRAL) last announced its quarterly earnings results on Thursday, February 20th. The company reported ($1.86) earnings per share for the quarter, topping analysts’ consensus estimates of ($4.41) by $2.55. The business had revenue of $38.25 million for the quarter, compared to analyst estimates of $35.33 million. As a group, analysts expect that Grail, Inc. will post -15.15 EPS for the current year.

Insider Buying and Selling

In other news, CEO Robert P. Ragusa sold 94,035 shares of the firm’s stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $33.93, for a total transaction of $3,190,607.55. Following the completion of the sale, the chief executive officer now owns 734,627 shares in the company, valued at approximately $24,925,894.11. This trade represents a 11.35 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Aaron Freidin sold 41,150 shares of the company’s stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $33.93, for a total transaction of $1,396,219.50. Following the completion of the transaction, the chief financial officer now owns 294,020 shares in the company, valued at approximately $9,976,098.60. This trade represents a 12.28 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 146,735 shares of company stock valued at $4,947,263.

About Grail

GRAIL, Inc is a healthcare company. It engages in the development of a technology for early detection of cancer. The company was founded by Jeffrey T. Huber, William H. Rastetter, and Mostafa Ronaghi on September 11, 2015 and is headquartered in Menlo Park, CA.