Primecap Management Co. CA Buys Shares of 2,079,416 Grail, Inc. (NASDAQ:GRAL)

Primecap Management Co. CA bought a new stake in Grail, Inc. (NASDAQ:GRAL) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 2,079,416 shares of the company’s stock, valued at approximately $37,118,000. Primecap Management Co. CA owned about 6.19% of Grail at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Crcm LP acquired a new stake in shares of Grail in the fourth quarter valued at about $65,061,000. Bank of New York Mellon Corp acquired a new stake in shares of Grail in the fourth quarter valued at about $6,262,000. TCW Group Inc. acquired a new stake in shares of Grail in the fourth quarter valued at about $5,095,000. abrdn plc acquired a new stake in shares of Grail in the fourth quarter valued at about $3,768,000. Finally, Commonwealth Equity Services LLC acquired a new stake in shares of Grail in the fourth quarter valued at about $3,278,000.

Grail Stock Down 3.3 %

NASDAQ GRAL opened at $28.18 on Wednesday. The business has a 50 day simple moving average of $32.20 and a 200 day simple moving average of $21.59. Grail, Inc. has a one year low of $12.33 and a one year high of $63.99.

Grail (NASDAQ:GRAL) last released its earnings results on Thursday, February 20th. The company reported ($1.86) EPS for the quarter, topping the consensus estimate of ($4.41) by $2.55. The business had revenue of $38.25 million for the quarter, compared to analyst estimates of $35.33 million. On average, equities analysts predict that Grail, Inc. will post -15.15 EPS for the current year.

Insider Buying and Selling

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 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 $10,457,304. This trade represents a 0.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, President Joshua J. Ofman sold 2,109 shares of the firm’s 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 sale, the president now directly owns 559,673 shares of the company’s stock, valued at $17,461,797.60. This represents a 0.38 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 11,550 shares of company stock valued at $360,436 over the last 90 days.

Wall Street Analysts Forecast Growth

Separately, Morgan Stanley increased their price target on Grail from $16.00 to $20.00 and gave the company an “equal weight” rating in a research note on Tuesday.

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.