Empyrean Capital Partners LP Takes Position in Grail, Inc. (NASDAQ:GRAL)

Empyrean Capital Partners LP purchased a new stake in shares of Grail, Inc. (NASDAQ:GRAL - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 176,000 shares of the company's stock, valued at approximately $3,142,000. Empyrean Capital Partners LP owned approximately 0.52% of Grail at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Crcm LP bought a new position in shares of Grail in the fourth quarter worth $65,061,000. Primecap Management Co. CA acquired a new position in shares of Grail in the 4th quarter valued at $37,118,000. Baker BROS. Advisors LP acquired a new position in shares of Grail in the 4th quarter valued at $29,098,000. Vanguard Group Inc. purchased a new stake in Grail in the 4th quarter worth about $25,902,000. Finally, AQR Capital Management LLC purchased a new stake in Grail in the 4th quarter worth about $14,828,000.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on GRAL. Morgan Stanley raised their price target 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 began coverage on Grail in a report on Monday, April 21st. They issued a "buy" rating and a $32.00 target price on the stock.

Grail Price Performance

Shares of NASDAQ:GRAL traded down $0.90 during trading on Friday, hitting $35.20. 878,412 shares of the stock were exchanged, compared to its average volume of 1,223,599. Grail, Inc. has a 1-year low of $12.33 and a 1-year high of $63.99. The company's fifty day simple moving average is $29.54 and its 200-day simple moving average is $25.87.

Grail (NASDAQ:GRAL - Get Free Report) last announced its quarterly earnings results on Thursday, February 20th. The company reported ($1.86) EPS for the quarter, beating the consensus estimate of ($4.41) by $2.55. The company had revenue of $38.25 million during the quarter, compared to analyst estimates of $35.33 million. Sell-side analysts predict that Grail, Inc. will post -15.15 earnings per share for the current year.

Insider Buying and Selling at Grail

In other news, CEO Robert P. Ragusa sold 7,625 shares of the business's stock in a transaction on Friday, March 7th. The stock was sold at an average price of $31.21, for a total transaction of $237,976.25. Following the completion of the sale, the chief executive officer now owns 828,662 shares in the company, valued at $25,862,541.02. The trade was a 0.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, President Joshua J. Ofman sold 2,109 shares of the business'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 sale, the president now owns 559,673 shares of the company's stock, valued at approximately $17,461,797.60. The trade was a 0.38% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 194,948 shares of company stock worth $6,583,130. 1.85% of the stock is currently owned by insiders.

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.