Gabelli Funds LLC Takes Position in Grail, Inc. (NASDAQ:GRAL)

Gabelli Funds LLC purchased a new position in shares of Grail, Inc. (NASDAQ:GRAL) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 31,310 shares of the company’s stock, valued at approximately $559,000. Gabelli Funds LLC owned 0.09% of Grail at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Crcm LP bought a new stake in shares of Grail during the 4th quarter worth $65,061,000. Primecap Management Co. CA bought a new stake in Grail in the fourth quarter worth about $37,118,000. Vanguard Group Inc. bought a new stake in Grail in the fourth quarter worth about $25,902,000. Arbiter Partners Capital Management LLC purchased a new position in Grail in the fourth quarter valued at about $14,827,000. Finally, Geode Capital Management LLC bought a new position in shares of Grail during the 4th quarter valued at approximately $7,920,000.

Wall Street Analyst Weigh In

Separately, Morgan Stanley lifted their price target on shares of Grail from $16.00 to $20.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 18th.

Insider Buying and Selling

In related news, President Joshua J. Ofman sold 2,109 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $31.20, for a total transaction of $65,800.80. Following the sale, the president now owns 559,673 shares of the company’s stock, valued at approximately $17,461,797.60. This represents a 0.38 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Aaron Freidin sold 1,816 shares of the stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $31.20, for a total transaction of $56,659.20. Following the completion of the sale, the chief financial officer now owns 335,170 shares in the company, valued at $10,457,304. This represents a 0.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 11,550 shares of company stock valued at $360,436.

Grail Trading Up 1.9 %

Shares of NASDAQ:GRAL opened at $27.00 on Friday. The company has a 50-day moving average price of $32.83 and a two-hundred day moving average price of $23.64. Grail, Inc. has a twelve month low of $12.33 and a twelve month high of $63.99.

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

Grail Profile

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.