GAMMA Investing LLC Increases Position in GRAIL, Inc. (NASDAQ:GRAL)

GAMMA Investing LLC boosted its holdings in GRAIL, Inc. (NASDAQ:GRAL - Free Report) by 4,102.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 25,131 shares of the company's stock after purchasing an additional 24,533 shares during the period. GAMMA Investing LLC owned approximately 0.07% of GRAIL worth $642,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Van ECK Associates Corp purchased a new position in shares of GRAIL in the fourth quarter valued at about $475,000. Rhumbline Advisers purchased a new position in shares of GRAIL in the fourth quarter valued at about $456,000. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new position in shares of GRAIL in the fourth quarter valued at about $244,000. New York State Common Retirement Fund purchased a new position in shares of GRAIL in the fourth quarter valued at about $59,000. Finally, Ieq Capital LLC purchased a new position in shares of GRAIL in the fourth quarter valued at about $355,000.

Analyst Ratings Changes

GRAL has been the topic 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 company a "buy" rating in a research report on Wednesday, May 14th. Morgan Stanley boosted their price target on shares of GRAIL from $16.00 to $20.00 and gave the company an "equal weight" rating in a research report on Tuesday, March 18th.

GRAIL Price Performance

Shares of NASDAQ GRAL traded down $2.81 during midday trading on Friday, hitting $45.63. 2,221,788 shares of the company traded hands, compared to its average volume of 1,268,339. GRAIL, Inc. has a 12-month low of $12.33 and a 12-month high of $63.99. The stock has a 50-day moving average price of $36.81 and a 200 day moving average price of $30.77.

GRAIL (NASDAQ:GRAL - Get Free Report) last announced its quarterly earnings results on Tuesday, May 13th. The company reported ($3.10) earnings per share (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 company had revenue of $31.84 million for the quarter, compared to analysts' expectations of $35.80 million. On average, sell-side analysts expect that GRAIL, Inc. will post -15.15 earnings per share for the current year.

Insider Activity at GRAIL

In other GRAIL news, CFO Aaron Freidin sold 41,150 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 value of $1,396,219.50. Following the sale, the chief financial officer now owns 294,020 shares in the company, valued at approximately $9,976,098.60. This represents 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 this link. Also, CEO Robert P. Ragusa sold 94,035 shares of the company's stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $33.93, for a total transaction of $3,190,607.55. Following the completion of the sale, the chief executive officer now owns 734,627 shares in the company, 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 have sold 183,398 shares of company stock worth $6,222,694 over the last 90 days. 1.85% of the stock is owned by company insiders.

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.