Arizona State Retirement System Takes $220,000 Position in GRAIL, Inc. (NASDAQ:GRAL)

Arizona State Retirement System bought a new stake in GRAIL, Inc. (NASDAQ:GRAL - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 8,627 shares of the company's stock, valued at approximately $220,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in GRAL. State of Tennessee Department of Treasury acquired a new position in GRAIL during the 4th quarter worth $28,000. Caldwell Sutter Capital Inc. acquired a new position in GRAIL during the 1st quarter worth $28,000. Sterling Capital Management LLC acquired a new position in GRAIL during the 4th quarter worth $29,000. KBC Group NV grew its holdings in GRAIL by 187.7% during the 1st quarter. KBC Group NV now owns 1,430 shares of the company's stock worth $37,000 after acquiring an additional 933 shares in the last quarter. Finally, S.A. Mason LLC grew its holdings in GRAIL by 50.1% during the 1st quarter. S.A. Mason LLC now owns 1,499 shares of the company's stock worth $38,000 after acquiring an additional 500 shares in the last quarter.

Insider Activity at GRAIL

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

GRAIL Stock Performance

Shares of NASDAQ GRAL opened at $37.16 on Wednesday. GRAIL, Inc. has a 52-week low of $12.33 and a 52-week high of $63.99. 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 cap of $1.34 billion and a P/E ratio of -0.61.

GRAIL (NASDAQ:GRAL - Get Free Report) last released its quarterly earnings results on Tuesday, May 13th. The company reported ($3.10) EPS 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 the consensus estimate of $35.80 million. Analysts predict that GRAIL, Inc. will post -15.15 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

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.

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