Crcm LP Makes New Investment in Grail, Inc. (NASDAQ:GRAL)

Crcm LP acquired a new position in Grail, Inc. (NASDAQ:GRAL - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 3,644,855 shares of the company's stock, valued at approximately $65,061,000. Grail accounts for 26.5% of Crcm LP's investment portfolio, making the stock its 2nd largest position. Crcm LP owned about 10.85% of Grail at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. FNY Investment Advisers LLC purchased a new stake in Grail in the 4th quarter worth approximately $26,000. Lindbrook Capital LLC purchased a new stake in Grail in the 4th quarter worth approximately $28,000. New York State Common Retirement Fund purchased a new stake in Grail in the 4th quarter worth approximately $59,000. Wilmington Savings Fund Society FSB purchased a new stake in Grail in the 4th quarter worth approximately $64,000. Finally, PNC Financial Services Group Inc. purchased a new stake in Grail in the 4th quarter worth approximately $86,000.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on GRAL shares. Morgan Stanley started coverage on shares of Grail in a research report on Wednesday, November 27th. They issued an "equal weight" rating and a $16.00 target price for the company. Wolfe Research started coverage on shares of Grail in a research report on Friday, November 15th. They issued a "peer perform" rating for the company.

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Insider Buying and Selling

In related news, CFO Aaron Freidin sold 1,816 shares of Grail stock in a transaction 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 transaction, the chief financial officer now owns 335,170 shares in the company, valued at $10,457,304. This trade represents a 0.54 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 transaction of $65,800.80. Following the completion of the transaction, the president now owns 559,673 shares in the company, valued at $17,461,797.60. This trade represents a 0.38 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 11,550 shares of company stock worth $360,436 in the last quarter.

Grail Stock Up 10.5 %

Shares of Grail stock traded up $2.82 during midday trading on Friday, reaching $29.74. 1,412,295 shares of the company's stock traded hands, compared to its average volume of 1,227,877. The company's 50 day simple moving average is $31.60 and its 200 day simple moving average is $21.19. Grail, Inc. has a 52 week low of $12.33 and a 52 week high of $63.99.

Grail (NASDAQ:GRAL - Get Free Report) last released 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 business had revenue of $38.25 million for the quarter, compared to the consensus estimate of $35.33 million. Sell-side analysts forecast that Grail, Inc. will post -15.15 earnings per share 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.