Man Group plc Acquires New Shares in Grail, Inc. (NASDAQ:GRAL)

Man Group plc purchased a new stake in Grail, Inc. (NASDAQ:GRAL - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 27,152 shares of the company's stock, valued at approximately $485,000. Man Group plc owned 0.08% of Grail as of its most recent filing with the SEC.

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

Grail Trading Down 8.3%

NASDAQ:GRAL traded down $3.40 during midday trading on Friday, hitting $37.70. 1,588,983 shares of the stock were exchanged, compared to its average volume of 1,256,076. The company has a market capitalization of $1.36 billion and a price-to-earnings ratio of -0.62. Grail, Inc. has a one year low of $12.33 and a one year high of $63.99. The business has a 50-day moving average price of $32.06 and a two-hundred day moving average price of $28.40.

Grail (NASDAQ:GRAL - Get Free Report) last released its earnings results on Tuesday, May 13th. The company reported ($3.10) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($4.03) by $0.93. The firm had revenue of $31.84 million for the quarter, compared to analyst estimates of $35.80 million. Sell-side analysts forecast that Grail, Inc. will post -15.15 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently weighed in on GRAL. Canaccord Genuity Group increased their price objective on shares of 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 stock an "equal weight" rating in a report on Tuesday, March 18th.

Insiders Place Their Bets

In other news, President Joshua J. Ofman sold 2,109 shares of the business's stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $31.20, for a total transaction of $65,800.80. Following the sale, the president now owns 559,673 shares in the company, valued at $17,461,797.60. The trade was a 0.38% 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, CFO Aaron Freidin sold 41,150 shares of the stock in a transaction on 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 sale, the chief financial officer now owns 294,020 shares of the company's stock, valued at $9,976,098.60. The trade was a 12.28% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 194,948 shares of company stock worth $6,583,130. 1.85% of the stock is owned by insiders.

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.