Bank of New York Mellon Corp Purchases New Position in Grail, Inc. (NASDAQ:GRAL)

Bank of New York Mellon Corp acquired a new stake in Grail, Inc. (NASDAQ:GRAL - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 350,814 shares of the company's stock, valued at approximately $6,262,000. Bank of New York Mellon Corp owned about 1.04% of Grail at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Y Intercept Hong Kong Ltd purchased a new position in shares of Grail during the 4th quarter worth approximately $500,000. TCW Group Inc. purchased a new position in Grail during the fourth quarter worth $5,095,000. Ieq Capital LLC acquired a new position in shares of Grail in the fourth quarter worth $355,000. New York State Common Retirement Fund purchased a new stake in shares of Grail in the fourth quarter valued at $59,000. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new stake in Grail during the 4th quarter worth about $244,000.

Wall Street Analysts Forecast Growth

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

Grail Price Performance

Shares of GRAL stock traded down $0.18 during mid-day trading on Thursday, hitting $27.84. 679,220 shares of the company's stock were exchanged, compared to its average volume of 1,221,067. Grail, Inc. has a fifty-two week low of $12.33 and a fifty-two week high of $63.99. The stock has a 50-day simple moving average of $32.41 and a two-hundred day simple moving average of $21.63.

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Grail (NASDAQ:GRAL - Get Free Report) last posted its quarterly earnings results on Thursday, February 20th. The company reported ($1.86) EPS for the quarter, beating the consensus estimate of ($4.41) by $2.55. The business had revenue of $38.25 million during the quarter, compared to analysts' expectations of $35.33 million. Equities research analysts expect that Grail, Inc. will post -15.15 EPS for the current year.

Insider Activity at Grail

In other Grail news, CFO Aaron Freidin sold 1,816 shares of the business's stock in a transaction dated 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 of the company's stock, valued at approximately $10,457,304. The trade was a 0.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Joshua J. Ofman sold 2,109 shares of the company's stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $31.20, for a total value of $65,800.80. Following the sale, the president now owns 559,673 shares of the company's stock, valued at $17,461,797.60. This represents a 0.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 11,550 shares of company stock worth $360,436.

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.