Alliancebernstein L.P. Purchases New Position in Grail, Inc. (NASDAQ:GRAL)

Alliancebernstein L.P. purchased a new stake in Grail, Inc. (NASDAQ:GRAL - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 13,992 shares of the company's stock, valued at approximately $250,000.

Other hedge funds have also recently made changes to their positions in the company. Wellington Management Group LLP purchased a new stake in Grail in the fourth quarter valued at approximately $408,000. Arrowstreet Capital Limited Partnership bought a new stake in shares of Grail during the 4th quarter worth $205,000. Orion Portfolio Solutions LLC purchased a new position in Grail in the fourth quarter worth $503,000. Norges Bank bought a new position in Grail in the fourth quarter valued at $1,184,000. Finally, Eagle Health Investments LP purchased a new stake in Grail during the fourth quarter valued at about $948,000.

Insiders Place Their Bets

In other news, President Joshua J. Ofman sold 2,109 shares of the business's stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $31.20, for a total value of $65,800.80. Following the sale, the president now directly owns 559,673 shares of the company's stock, valued at $17,461,797.60. The trade was a 0.38 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Robert P. Ragusa sold 7,625 shares of Grail stock in a transaction on Friday, March 7th. The shares were sold at an average price of $31.21, for a total value of $237,976.25. Following the transaction, 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 position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 11,550 shares of company stock worth $360,436.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on GRAL shares. Morgan Stanley increased their price objective on Grail from $16.00 to $20.00 and gave the company an "equal weight" rating in a research report on Tuesday, March 18th. Canaccord Genuity Group initiated coverage on shares of Grail in a research report on Monday, April 21st. They set a "buy" rating and a $32.00 price target on the stock.

Grail Trading Down 1.3 %

Shares of NASDAQ GRAL traded down $0.49 during midday trading on Friday, reaching $37.20. The company had a trading volume of 939,800 shares, compared to its average volume of 1,223,240. Grail, Inc. has a one year low of $12.33 and a one year high of $63.99. The firm's fifty day moving average price is $31.14 and its 200-day moving average price is $24.26.

Grail (NASDAQ:GRAL - Get Free Report) last issued its quarterly earnings data on Thursday, February 20th. The company reported ($1.86) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($4.41) by $2.55. The company had revenue of $38.25 million for the quarter, compared to analysts' expectations of $35.33 million. As a group, sell-side analysts forecast that Grail, Inc. will post -15.15 EPS for the current year.

About Grail

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.