Baker BROS. Advisors LP Acquires Shares of 1,630,125 Grail, Inc. (NASDAQ:GRAL)

Baker BROS. Advisors LP acquired a new stake in Grail, Inc. (NASDAQ:GRAL) in the fourth quarter, HoldingsChannel.com reports. The fund acquired 1,630,125 shares of the company’s stock, valued at approximately $29,098,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new position in Grail during the fourth quarter worth $244,000. Moloney Securities Asset Management LLC bought a new position in Grail in the 4th quarter valued at about $559,000. Rhumbline Advisers acquired a new stake in Grail during the fourth quarter worth approximately $456,000. Wesbanco Bank Inc. bought a new stake in shares of Grail during the fourth quarter worth approximately $523,000. Finally, Slow Capital Inc. acquired a new position in shares of Grail in the fourth quarter valued at approximately $2,379,000.

Insider Activity at Grail

In related news, CEO Robert P. Ragusa sold 7,625 shares of the stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $31.21, for a total transaction of $237,976.25. Following the sale, the chief executive officer now owns 828,662 shares in the company, valued at approximately $25,862,541.02. This trade represents a 0.91 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, President Joshua J. Ofman sold 2,109 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $31.20, for a total transaction of $65,800.80. Following the transaction, the president now owns 559,673 shares of the company’s stock, 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. Insiders sold a total of 11,550 shares of company stock valued at $360,436 over the last quarter.

Grail Trading Up 10.1 %

NASDAQ GRAL opened at $35.78 on Friday. The company has a 50 day moving average of $30.08 and a 200-day moving average of $25.08. Grail, Inc. has a 1-year low of $12.33 and a 1-year high of $63.99.

Grail (NASDAQ:GRAL) last announced its quarterly earnings data on Thursday, February 20th. The company reported ($1.86) earnings per share for the quarter, beating the consensus estimate of ($4.41) by $2.55. The company had revenue of $38.25 million during the quarter, compared to analyst estimates of $35.33 million. Sell-side analysts expect that Grail, Inc. will post -15.15 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on GRAL. Canaccord Genuity Group assumed coverage on Grail in a research note on Monday, April 21st. They issued a “buy” rating and a $32.00 price target for the company. Morgan Stanley upped their price target 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.

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.