Gabelli Funds LLC Invests $559,000 in Grail, Inc. (NASDAQ:GRAL)

Gabelli Funds LLC acquired a new position in Grail, Inc. (NASDAQ:GRAL - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 31,310 shares of the company's stock, valued at approximately $559,000. Gabelli Funds LLC owned about 0.09% of Grail at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the company. FNY Investment Advisers LLC acquired a new stake in shares of Grail during the fourth quarter worth about $26,000. Lindbrook Capital LLC purchased a new stake in shares of Grail in the fourth quarter valued at about $28,000. Sterling Capital Management LLC purchased a new stake in shares of Grail in the fourth quarter valued at about $29,000. Wellington Shields Capital Management LLC purchased a new stake in shares of Grail during the 4th quarter worth $33,000. Finally, New York State Common Retirement Fund acquired a new stake in Grail in the fourth quarter valued at $59,000.

Grail Price Performance

NASDAQ:GRAL traded down $0.27 during midday trading on Friday, hitting $37.42. 433,298 shares of the stock were exchanged, compared to its average volume of 1,220,974. Grail, Inc. has a one year low of $12.33 and a one year high of $63.99. The business has a 50-day moving average price of $31.34 and a two-hundred day moving average price of $24.09.

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

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Morgan Stanley boosted their price objective on shares of Grail from $16.00 to $20.00 and gave the company an "equal weight" rating in a research report on Tuesday, March 18th. Canaccord Genuity Group assumed coverage on shares of Grail in a report on Monday. They issued a "buy" rating and a $32.00 price target on the stock.

Insider Buying and Selling

In related news, CFO Aaron Freidin sold 1,816 shares of the company's stock in a transaction on Friday, March 7th. The shares were 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 directly owns 335,170 shares of the company's stock, valued at approximately $10,457,304. This represents a 0.54 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Joshua J. Ofman sold 2,109 shares of Grail stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $31.20, for a total value of $65,800.80. Following the completion of the transaction, the president now directly owns 559,673 shares in the company, valued at approximately $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 ninety days, insiders sold 11,550 shares of company stock worth $360,436.

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.