Sessa Capital IM L.P. Invests $53.55 Million in Grail, Inc. (NASDAQ:GRAL)

Sessa Capital IM L.P. purchased a new position in shares of Grail, Inc. (NASDAQ:GRAL) during the fourth quarter, HoldingsChannel reports. The fund purchased 3,000,000 shares of the company’s stock, valued at approximately $53,550,000. Grail accounts for approximately 1.9% of Sessa Capital IM L.P.’s holdings, making the stock its 13th biggest holding. Sessa Capital IM L.P. owned about 0.09% of Grail at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in GRAL. Lindbrook Capital LLC acquired a new stake in shares of Grail during the fourth quarter worth $28,000. State of Tennessee Department of Treasury acquired a new position in shares of Grail during the 4th quarter worth about $28,000. Sterling Capital Management LLC bought a new stake in shares of Grail during the 4th quarter worth about $29,000. Wellington Shields Capital Management LLC bought a new stake in shares of Grail during the 4th quarter worth about $33,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Grail during the 4th quarter worth about $41,000.

Grail Stock Performance

Shares of NASDAQ GRAL opened at $39.91 on Friday. Grail, Inc. has a 52-week low of $12.33 and a 52-week high of $63.99. The firm has a 50 day moving average price of $30.01 and a two-hundred day moving average price of $26.56. The stock has a market cap of $1.41 billion and a P/E ratio of -0.65.

Grail (NASDAQ:GRAL) last posted its quarterly earnings data on Tuesday, May 13th. The company reported ($3.10) earnings per share for the quarter, topping the consensus estimate of ($4.03) by $0.93. The firm had revenue of $31.84 million for the quarter, compared to analyst estimates of $35.80 million. Analysts predict that Grail, Inc. will post -15.15 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Grail news, CFO Aaron Freidin sold 1,816 shares of the firm’s 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 directly owns 335,170 shares of the company’s stock, valued at approximately $10,457,304. This trade represents a 0.54% decrease in their ownership of the stock. 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 the firm’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 $65,800.80. Following the completion of the transaction, the president now directly owns 559,673 shares in the company, valued at $17,461,797.60. This trade represents a 0.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 194,948 shares of company stock valued at $6,583,130 over the last ninety days. 1.85% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on GRAL. 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 report on Tuesday, March 18th. Canaccord Genuity Group increased their price objective on shares of Grail from $32.00 to $43.00 and gave the company a “buy” rating in a research note on Wednesday.

Grail Company Profile

GRAIL, Inc operates as a commercial-stage healthcare company, which engages in the development of a technology for early detection of cancer. It utilizes machine learning, software, and automation to detect and identify multiple deadly cancer types in earlier stages. The company was founded by Jeffrey T.