Tang Capital Management LLC Acquires Shares of 200,000 Grail, Inc. (NASDAQ:GRAL)

Tang Capital Management LLC purchased a new stake in shares of Grail, Inc. (NASDAQ:GRAL - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 200,000 shares of the company's stock, valued at approximately $3,570,000. Tang Capital Management LLC owned approximately 0.60% of Grail as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. State of Tennessee Department of Treasury bought a new stake in Grail in the fourth quarter worth $28,000. Lindbrook Capital LLC bought a new position in shares of Grail in the 4th quarter valued at approximately $28,000. Sterling Capital Management LLC acquired a new stake in Grail in the 4th quarter worth approximately $29,000. Wellington Shields Capital Management LLC acquired a new stake in Grail in the 4th quarter worth approximately $33,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Grail during the fourth quarter worth approximately $41,000.

Insider Activity

In other news, CEO Robert P. Ragusa sold 7,625 shares of Grail stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $31.21, for a total transaction of $237,976.25. Following the sale, the chief executive officer now directly owns 828,662 shares in the company, valued at approximately $25,862,541.02. The trade was a 0.91% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Joshua J. Ofman sold 48,213 shares of the company's stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $33.93, for a total transaction of $1,635,867.09. Following the completion of the sale, the president now directly owns 511,460 shares in the company, valued at approximately $17,353,837.80. The trade was a 8.61% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 194,948 shares of company stock valued at $6,583,130. Insiders own 1.85% of the company's stock.

Grail Trading Down 4.7%

NASDAQ:GRAL traded down $1.86 during mid-day trading on Wednesday, hitting $37.46. 1,000,858 shares of the company's stock traded hands, compared to its average volume of 1,256,695. The firm has a 50 day moving average of $30.41 and a two-hundred day moving average of $27.00. The firm has a market capitalization of $1.35 billion and a price-to-earnings ratio of -0.61. Grail, Inc. has a 12 month low of $12.33 and a 12 month high of $63.99.

Grail (NASDAQ:GRAL - Get Free Report) last announced its quarterly earnings data on Tuesday, May 13th. The company reported ($3.10) EPS for the quarter, beating analysts' consensus estimates of ($4.03) by $0.93. The company had revenue of $31.84 million for the quarter, compared to analyst estimates of $35.80 million. As a group, equities research analysts expect that Grail, Inc. will post -15.15 earnings per share for the current year.

Analyst Ratings Changes

GRAL has been the subject of a number of analyst reports. Canaccord Genuity Group boosted their price objective on shares of Grail from $32.00 to $43.00 and gave the stock a "buy" rating in a research note on Wednesday, May 14th. Morgan Stanley lifted their target price on shares of Grail from $16.00 to $20.00 and gave the stock an "equal weight" rating in a report on Tuesday, March 18th.

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.