Moors & Cabot Inc. Acquires Shares of 13,680 Grail, Inc. (NASDAQ:GRAL)

Moors & Cabot Inc. purchased a new position in shares of Grail, Inc. (NASDAQ:GRAL - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 13,680 shares of the company's stock, valued at approximately $244,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. FNY Investment Advisers LLC acquired a new stake in shares of Grail during the fourth quarter worth approximately $26,000. Lindbrook Capital LLC acquired a new stake in shares of Grail during the fourth quarter worth approximately $28,000. New York State Common Retirement Fund acquired a new stake in shares of Grail during the fourth quarter worth approximately $59,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Grail during the fourth quarter worth approximately $64,000. Finally, PNC Financial Services Group Inc. acquired a new stake in shares of Grail during the fourth quarter worth approximately $86,000.

Insider Activity at Grail

In related news, CFO Aaron Freidin sold 1,816 shares of the firm'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 value of $56,659.20. Following the completion of the sale, the chief financial officer now owns 335,170 shares of the company's stock, valued at $10,457,304. This trade represents a 0.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Robert P. Ragusa sold 7,625 shares of the firm's stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $31.21, for a total transaction of $237,976.25. Following the completion of the transaction, the chief executive officer now directly owns 828,662 shares in the company, valued at approximately $25,862,541.02. The trade was a 0.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 11,550 shares of company stock valued at $360,436 over the last quarter.

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Analysts Set New Price Targets

Separately, Morgan Stanley raised their price objective on shares of Grail from $16.00 to $20.00 and gave the stock an "equal weight" rating in a report on Tuesday.

Grail Stock Performance

Shares of Grail stock traded down $0.20 during midday trading on Thursday, reaching $27.81. The company had a trading volume of 858,518 shares, compared to its average volume of 1,221,654. The stock has a fifty day simple moving average of $32.41 and a 200 day simple moving average of $21.63. Grail, Inc. has a 1-year low of $12.33 and a 1-year high of $63.99.

Grail (NASDAQ:GRAL - Get Free Report) last issued its quarterly earnings results on Thursday, February 20th. The company reported ($1.86) earnings per share for the quarter, beating analysts' consensus estimates of ($4.41) by $2.55. The company had revenue of $38.25 million during the quarter, compared to analyst estimates of $35.33 million. Sell-side analysts predict that Grail, Inc. will post -15.15 earnings per share for the current fiscal year.

Grail Company 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.