Envestnet Asset Management Inc. Buys New Shares in Grail, Inc. (NASDAQ:GRAL)

Envestnet Asset Management Inc. acquired a new stake in Grail, Inc. (NASDAQ:GRAL - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 18,859 shares of the company's stock, valued at approximately $337,000. Envestnet Asset Management Inc. owned approximately 0.06% of Grail as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GRAL. FNY Investment Advisers LLC purchased a new stake in Grail in the 4th quarter worth $26,000. Lindbrook Capital LLC purchased a new position in Grail during the 4th quarter valued at approximately $28,000. Wellington Shields Capital Management LLC purchased a new position in Grail during the 4th quarter valued at approximately $33,000. New York State Common Retirement Fund bought a new stake in Grail in the 4th quarter worth approximately $59,000. Finally, Wilmington Savings Fund Society FSB purchased a new stake in shares of Grail during the 4th quarter worth approximately $64,000.

Grail Trading Down 6.1 %

Shares of Grail stock opened at $32.16 on Wednesday. The stock has a 50 day moving average price of $29.75 and a 200-day moving average price of $25.34. Grail, Inc. has a one year low of $12.33 and a one year high of $63.99.

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

Analyst Ratings Changes

GRAL has been the topic of several research reports. Morgan Stanley boosted their price target on shares of Grail from $16.00 to $20.00 and gave the stock an "equal weight" rating in a research report on Tuesday, March 18th. Canaccord Genuity Group assumed coverage on shares of Grail in a report on Monday, April 21st. They issued a "buy" rating and a $32.00 target price on the stock.

Insider Buying and Selling

In other Grail news, CEO Robert P. Ragusa sold 94,035 shares of the stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $33.93, for a total value of $3,190,607.55. Following the sale, the chief executive officer now owns 734,627 shares in the company, valued at $24,925,894.11. This trade represents a 11.35 % decrease in their ownership of the stock. The transaction 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 company'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 transaction, the president now owns 559,673 shares in the company, valued at approximately $17,461,797.60. The trade was a 0.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 194,948 shares of company stock valued at $6,583,130 in the last ninety days.

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.

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