Bank of New York Mellon Corp Acquires Shares of 350,814 Grail, Inc. (NASDAQ:GRAL)

Bank of New York Mellon Corp bought a new stake in shares of Grail, Inc. (NASDAQ:GRAL) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 350,814 shares of the company’s stock, valued at approximately $6,262,000. Bank of New York Mellon Corp owned about 1.04% of Grail at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in GRAL. TCW Group Inc. purchased a new position in shares of Grail during the 4th quarter valued at approximately $5,095,000. abrdn plc bought a new position in Grail during the fourth quarter worth $3,768,000. Douglas Lane & Associates LLC bought a new position in Grail during the fourth quarter worth $3,034,000. Slow Capital Inc. bought a new position in Grail during the fourth quarter worth $2,379,000. Finally, 180 Wealth Advisors LLC acquired a new stake in Grail in the fourth quarter worth $1,681,000.

Analysts Set New Price Targets

Separately, Morgan Stanley started coverage on Grail in a report on Wednesday, November 27th. They set an “equal weight” rating and a $16.00 price target on the stock.

Grail Price Performance

Shares of GRAL opened at $29.74 on Monday. The stock’s fifty day moving average is $31.81 and its 200-day moving average is $21.39. 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) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($4.41) by $2.55. The firm had revenue of $38.25 million for the quarter, compared to analyst estimates of $35.33 million. Research analysts anticipate that Grail, Inc. will post -15.15 earnings per share for the current fiscal year.

Insider Activity at Grail

In other Grail news, President Joshua J. Ofman sold 2,109 shares of the firm’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $31.20, for a total transaction of $65,800.80. Following the completion of the sale, the president now directly owns 559,673 shares in the company, valued at approximately $17,461,797.60. This trade represents a 0.38 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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 value of $237,976.25. Following the sale, the chief executive officer now owns 828,662 shares of the company’s stock, valued at $25,862,541.02. The trade was a 0.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 11,550 shares of company stock worth $360,436 in the last quarter.

Grail 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.