Millennium Management LLC Purchases New Shares in Grail, Inc. (NASDAQ:GRAL)

Millennium Management LLC purchased a new stake in Grail, Inc. (NASDAQ:GRAL - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 295,523 shares of the company's stock, valued at approximately $5,275,000. Millennium Management LLC owned approximately 0.88% of Grail at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of GRAL. Crcm LP purchased a new position in shares of Grail during the fourth quarter valued at approximately $65,061,000. Primecap Management Co. CA purchased a new position in shares of Grail during the fourth quarter valued at approximately $37,118,000. Baker BROS. Advisors LP purchased a new position in shares of Grail during the fourth quarter valued at approximately $29,098,000. Vanguard Group Inc. purchased a new position in shares of Grail during the fourth quarter valued at approximately $25,902,000. Finally, Jacobs Levy Equity Management Inc. purchased a new position in shares of Grail during the fourth quarter valued at approximately $18,209,000.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on GRAL shares. Canaccord Genuity Group upped their price objective 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. Morgan Stanley upped their price objective on shares of Grail from $16.00 to $20.00 and gave the company an "equal weight" rating in a research note on Tuesday, March 18th.

Insiders Place Their Bets

In other news, CFO Aaron Freidin sold 41,150 shares of the firm's 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 transaction, the chief financial officer now owns 294,020 shares of the company's stock, valued at approximately $9,976,098.60. This trade represents a 12.28% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, President Joshua J. Ofman sold 2,109 shares of the firm's stock in a transaction 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 completion of 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 194,948 shares of company stock valued at $6,583,130 over the last quarter. Company insiders own 1.85% of the company's stock.

Grail Price Performance

NASDAQ:GRAL traded down $0.91 during trading hours on Monday, reaching $37.50. 1,479,928 shares of the company were exchanged, compared to its average volume of 1,257,007. The firm has a market cap of $1.35 billion and a price-to-earnings ratio of -0.61. Grail, Inc. has a 52-week low of $12.33 and a 52-week high of $63.99. The stock has a 50 day simple moving average of $32.06 and a 200 day simple moving average of $28.49.

Grail (NASDAQ:GRAL - Get Free Report) last posted its quarterly earnings results 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 company had revenue of $31.84 million for the quarter, compared to analysts' expectations of $35.80 million. On average, analysts predict that Grail, Inc. will post -15.15 EPS for the current fiscal year.

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.