8,487 Shares in GRAIL, Inc. (NASDAQ:GRAL) Bought by 1ST Source Bank

1ST Source Bank bought a new position in GRAIL, Inc. (NASDAQ:GRAL - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 8,487 shares of the company's stock, valued at approximately $217,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Signaturefd LLC increased its stake in GRAIL by 273.0% during the 1st quarter. Signaturefd LLC now owns 1,876 shares of the company's stock worth $48,000 after buying an additional 1,373 shares during the period. Slow Capital Inc. boosted its stake in shares of GRAIL by 2.0% during the 1st quarter. Slow Capital Inc. now owns 135,957 shares of the company's stock worth $3,472,000 after purchasing an additional 2,673 shares during the last quarter. CWM LLC boosted its position in shares of GRAIL by 248.3% in the first quarter. CWM LLC now owns 22,715 shares of the company's stock worth $580,000 after acquiring an additional 16,193 shares during the last quarter. Westmount Partners LLC acquired a new stake in shares of GRAIL in the first quarter worth approximately $205,000. Finally, Arizona State Retirement System acquired a new position in GRAIL during the first quarter valued at approximately $220,000.

Insider Activity

In related news, CFO Aaron Freidin sold 41,150 shares of the business'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 transaction of $1,396,219.50. Following the completion of the sale, the chief financial officer directly owned 294,020 shares in the company, valued at approximately $9,976,098.60. The trade was a 12.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Robert P. Ragusa sold 94,035 shares of the stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $33.93, for a total value of $3,190,607.55. Following the completion of the sale, the chief executive officer directly owned 734,627 shares in the company, valued at $24,925,894.11. This represents a 11.35% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 540,890 shares of company stock worth $23,868,412 over the last ninety days.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group upped their target price on shares of GRAIL from $32.00 to $43.00 and gave the company a "buy" rating in a research report on Wednesday, May 14th.

GRAIL Stock Up 4.3%

Shares of GRAIL stock traded up $1.60 during trading on Wednesday, hitting $38.76. 364,567 shares of the company were exchanged, compared to its average volume of 1,158,085. The firm has a 50 day moving average price of $41.81 and a 200 day moving average price of $34.43. The stock has a market capitalization of $1.39 billion and a price-to-earnings ratio of -0.63. 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 issued its earnings results on Tuesday, May 13th. The company reported ($3.10) earnings per share for the quarter, beating the consensus estimate of ($4.03) by $0.93. GRAIL had a negative net margin of 1,464.53% and a negative return on equity of 17.99%. The business had revenue of $31.84 million for the quarter, compared to analyst estimates of $35.80 million. Analysts predict that GRAIL, Inc. will post -15.15 earnings per share for the current year.

GRAIL 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.