Gabelli Funds LLC Buys Shares of 31,310 Grail, Inc. (NASDAQ:GRAL)

Gabelli Funds LLC purchased a new position in Grail, Inc. (NASDAQ:GRAL) during the fourth quarter, Holdings Channel reports. The fund purchased 31,310 shares of the company’s stock, valued at approximately $559,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in GRAL. Ontario Teachers Pension Plan Board bought a new position in Grail in the fourth quarter valued at $691,000. XTX Topco Ltd bought a new position in shares of Grail during the 4th quarter valued at about $232,000. Mariner LLC purchased a new position in shares of Grail during the 4th quarter valued at about $190,000. Barclays PLC bought a new stake in Grail in the 4th quarter worth approximately $429,000. Finally, Reynders McVeigh Capital Management LLC purchased a new stake in Grail in the fourth quarter worth approximately $1,784,000.

Grail Price Performance

NASDAQ GRAL opened at $27.00 on Friday. The stock has a 50-day moving average of $32.83 and a 200-day moving average of $23.64. Grail, Inc. has a 1-year low of $12.33 and a 1-year high of $63.99.

Grail (NASDAQ:GRAL) last issued its earnings results on Thursday, February 20th. The company reported ($1.86) earnings per share (EPS) 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 the consensus estimate of $35.33 million. As a group, equities research analysts forecast that Grail, Inc. will post -15.15 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, Morgan Stanley upped their price objective on shares of Grail from $16.00 to $20.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 18th.

Insider Activity

In related news, President Joshua J. Ofman sold 2,109 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 $65,800.80. Following the sale, the president now owns 559,673 shares in the company, valued at $17,461,797.60. The trade was a 0.38 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Robert P. Ragusa sold 7,625 shares of the firm’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $31.21, for a total transaction of $237,976.25. Following the completion of the sale, the chief executive officer now directly owns 828,662 shares of the company’s stock, valued at approximately $25,862,541.02. This represents a 0.91 % 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 valued at $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.