Ameriprise Financial Inc. Makes New Investment in Grail, Inc. (NASDAQ:GRAL)

Ameriprise Financial Inc. bought a new position in shares of Grail, Inc. (NASDAQ:GRAL - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 38,142 shares of the company's stock, valued at approximately $681,000. Ameriprise Financial Inc. owned approximately 0.11% of Grail at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. State of Tennessee Department of Treasury purchased a new stake in Grail during the 4th quarter worth about $28,000. Lindbrook Capital LLC purchased a new stake in Grail during the 4th quarter worth about $28,000. Sterling Capital Management LLC purchased a new stake in Grail during the 4th quarter worth about $29,000. Wellington Shields Capital Management LLC purchased a new stake in Grail during the 4th quarter worth about $33,000. Finally, Public Employees Retirement Association of Colorado purchased a new stake in Grail during the 4th quarter worth about $50,000.

Insider Activity

In related news, President Joshua J. Ofman sold 2,109 shares of the 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 transaction, the president now directly owns 559,673 shares in the company, valued at approximately $17,461,797.60. This represents a 0.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Aaron Freidin sold 1,816 shares of the stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $31.20, for a total value of $56,659.20. Following the transaction, the chief financial officer now owns 335,170 shares in the company, valued at $10,457,304. This trade represents a 0.54% 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 worth $6,583,130 over the last three months. 1.85% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

GRAL has been the topic of several recent research reports. Canaccord Genuity Group upped their price target on Grail from $32.00 to $43.00 and gave the stock a "buy" rating in a 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.

Grail Price Performance

Shares of NASDAQ:GRAL traded down $0.52 during trading on Thursday, reaching $39.49. The company had a trading volume of 1,679,805 shares, compared to its average volume of 1,259,949. The firm has a market capitalization of $1.42 billion and a price-to-earnings ratio of -0.65. The stock's fifty day moving average price is $32.70 and its 200 day moving average price is $28.80. 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 quarterly earnings data on Tuesday, May 13th. The company reported ($3.10) earnings per share for the quarter, topping analysts' consensus estimates of ($4.03) by $0.93. The business had revenue of $31.84 million for the quarter, compared to analyst estimates of $35.80 million. On average, equities analysts anticipate that Grail, Inc. will post -15.15 EPS 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.