Northern Trust Corp Invests $2.61 Million in Grail, Inc. (NASDAQ:GRAL)

Northern Trust Corp acquired a new stake in shares of Grail, Inc. (NASDAQ:GRAL - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 145,949 shares of the company's stock, valued at approximately $2,605,000. Northern Trust Corp owned about 0.43% of Grail at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Wesbanco Bank Inc. bought a new position in Grail during the fourth quarter valued at approximately $523,000. Exchange Traded Concepts LLC acquired a new position in shares of Grail during the 4th quarter worth $507,000. Slow Capital Inc. bought a new position in shares of Grail during the 4th quarter valued at $2,379,000. Perigon Wealth Management LLC bought a new position in shares of Grail during the 4th quarter valued at $260,000. Finally, China Universal Asset Management Co. Ltd. acquired a new stake in shares of Grail in the 4th quarter valued at $127,000.

Wall Street Analysts Forecast Growth

Several research firms have commented on GRAL. Canaccord Genuity Group increased their target price on shares of Grail from $32.00 to $43.00 and gave the stock a "buy" rating in a research report on Wednesday, May 14th. Morgan Stanley increased their price objective on Grail from $16.00 to $20.00 and gave the company an "equal weight" rating in a report on Tuesday, March 18th.

Insider Transactions at Grail

In other Grail news, President Joshua J. Ofman sold 2,109 shares of the firm'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 owns 559,673 shares of the company's stock, valued at $17,461,797.60. This trade represents a 0.38% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Robert P. Ragusa sold 94,035 shares of the company's stock in a transaction that occurred 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 transaction, the chief executive officer now owns 734,627 shares of the company's stock, valued at approximately $24,925,894.11. This trade represents a 11.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 194,948 shares of company stock worth $6,583,130. Company insiders own 1.85% of the company's stock.

Grail Stock Performance

Shares of Grail stock traded up $2.16 on Tuesday, reaching $42.34. The stock had a trading volume of 1,533,368 shares, compared to its average volume of 1,257,181. The business's 50-day moving average price is $31.24 and its two-hundred day moving average price is $27.79. The stock has a market cap of $1.52 billion and a P/E ratio of -0.69. Grail, Inc. has a fifty-two week low of $12.33 and a fifty-two week high of $63.99.

Grail (NASDAQ:GRAL - Get Free Report) last announced its earnings results on Tuesday, May 13th. The company reported ($3.10) EPS for the quarter, topping the consensus estimate of ($4.03) by $0.93. The firm had revenue of $31.84 million during the quarter, compared to the consensus estimate of $35.80 million. As a group, equities analysts forecast that Grail, Inc. will post -15.15 earnings per share for the current fiscal year.

About Grail

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.