Baker BROS. Advisors LP Invests $29.10 Million in Grail, Inc. (NASDAQ:GRAL)

Baker BROS. Advisors LP bought a new position in shares of Grail, Inc. (NASDAQ:GRAL - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,630,125 shares of the company's stock, valued at approximately $29,098,000. Baker BROS. Advisors LP owned 4.85% of Grail as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Crcm LP purchased a new position in shares of Grail in the 4th quarter valued at approximately $65,061,000. Primecap Management Co. CA acquired a new stake in shares of Grail during the fourth quarter worth $37,118,000. Vanguard Group Inc. purchased a new position in Grail in the 4th quarter valued at $25,902,000. AQR Capital Management LLC purchased a new position in Grail in the 4th quarter valued at $14,828,000. Finally, Arbiter Partners Capital Management LLC acquired a new position in Grail in the 4th quarter valued at $14,827,000.

Grail Price Performance

Grail stock traded up $2.58 during midday trading on Wednesday, reaching $34.74. The company's stock had a trading volume of 1,367,647 shares, compared to its average volume of 1,225,649. Grail, Inc. has a fifty-two week low of $12.33 and a fifty-two week high of $63.99. The stock's 50 day simple moving average is $29.75 and its 200 day simple moving average is $25.34.

Grail (NASDAQ:GRAL - Get Free Report) last announced its quarterly earnings results 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 during the quarter, compared to analysts' expectations of $35.33 million. As a group, analysts predict that Grail, Inc. will post -15.15 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Morgan Stanley lifted their target price 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 assumed coverage on Grail in a report on Monday, April 21st. They issued a "buy" rating and a $32.00 price objective on the stock.

Insider Buying and Selling

In related news, CEO Robert P. Ragusa sold 94,035 shares of Grail stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $33.93, for a total transaction of $3,190,607.55. Following the completion of the transaction, the chief executive officer now directly owns 734,627 shares in the company, valued at $24,925,894.11. The trade was a 11.35 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, President Joshua J. Ofman sold 2,109 shares of the firm's stock in a transaction 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 transaction, 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 disclosure for this sale can be found here. Insiders have sold 194,948 shares of company stock worth $6,583,130 in the last three months.

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.