Legal & General Group Plc Makes New $1.29 Million Investment in Grail, Inc. (NASDAQ:GRAL)

Legal & General Group Plc bought a new stake in shares of Grail, Inc. (NASDAQ:GRAL) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 72,398 shares of the company’s stock, valued at approximately $1,292,000.

Other large investors also recently modified their holdings of the company. Crcm LP acquired a new position in Grail in the fourth quarter valued at about $65,061,000. Primecap Management Co. CA acquired a new position in shares of Grail in the 4th quarter valued at approximately $37,118,000. Vanguard Group Inc. bought a new stake in shares of Grail during the 4th quarter worth approximately $25,902,000. Geode Capital Management LLC acquired a new stake in shares of Grail during the 4th quarter worth approximately $7,920,000. Finally, Bank of New York Mellon Corp bought a new position in Grail in the fourth quarter valued at approximately $6,262,000.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on GRAL. Morgan Stanley upped their target price on Grail from $16.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 18th. Canaccord Genuity Group started coverage on Grail in a research note on Monday, April 21st. They issued a “buy” rating and a $32.00 price objective on the stock.

Insider Buying and Selling at Grail

In other Grail news, CFO Aaron Freidin sold 1,816 shares of the company’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 value of $56,659.20. Following the completion of the transaction, the chief financial officer now directly owns 335,170 shares in the company, valued at approximately $10,457,304. This represents a 0.54 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Robert P. Ragusa sold 7,625 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer now directly owns 828,662 shares of the company’s stock, valued at $25,862,541.02. The trade was a 0.91 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 11,550 shares of company stock worth $360,436.

Grail Price Performance

Shares of NASDAQ:GRAL opened at $37.20 on Friday. Grail, Inc. has a one year low of $12.33 and a one year high of $63.99. The firm has a 50 day simple moving average of $31.14 and a 200 day simple moving average of $24.34.

Grail (NASDAQ:GRAL) last announced its quarterly earnings results on Thursday, February 20th. The company reported ($1.86) EPS for the quarter, beating analysts’ consensus estimates 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. Sell-side analysts forecast that Grail, Inc. will post -15.15 EPS for the current fiscal year.

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.