Jacobs Levy Equity Management Inc. Makes New Investment in Grail, Inc. (NASDAQ:GRAL)

Jacobs Levy Equity Management Inc. purchased a new position in shares of Grail, Inc. (NASDAQ:GRAL - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 1,020,105 shares of the company's stock, valued at approximately $18,209,000. Jacobs Levy Equity Management Inc. owned 3.04% of Grail as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently modified their holdings of the business. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new position in Grail during the fourth quarter worth $244,000. Moloney Securities Asset Management LLC bought a new position in Grail during the fourth quarter worth $559,000. Rhumbline Advisers bought a new position in Grail during the fourth quarter worth $456,000. Wesbanco Bank Inc. bought a new position in Grail during the fourth quarter worth $523,000. Finally, Slow Capital Inc. bought a new position in Grail during the fourth quarter worth $2,379,000.

Grail Stock Up 2.4%

GRAL traded up $0.92 during midday trading on Friday, hitting $39.91. The company had a trading volume of 2,065,714 shares, compared to its average volume of 1,257,258. Grail, Inc. has a 52 week low of $12.33 and a 52 week high of $63.99. The company has a market capitalization of $1.41 billion and a price-to-earnings ratio of -0.65. The stock's 50 day moving average price is $30.01 and its 200 day moving average price is $26.75.

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, beating the consensus estimate of ($4.03) by $0.93. The company had revenue of $31.84 million during the quarter, compared to the consensus estimate of $35.80 million. Research analysts predict that Grail, Inc. will post -15.15 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Morgan Stanley lifted their target price on shares of Grail from $16.00 to $20.00 and gave the stock an "equal weight" rating in a research note on Tuesday, March 18th. Canaccord Genuity Group lifted their target price on shares of Grail from $32.00 to $43.00 and gave the stock a "buy" rating in a research note on Wednesday.

Insider Buying and Selling at Grail

In other Grail news, CFO Aaron Freidin sold 1,816 shares of Grail stock in a transaction on Friday, March 7th. The shares were sold at an average price of $31.20, for a total value of $56,659.20. Following the completion of the sale, the chief financial officer now directly owns 335,170 shares of the company's stock, valued at approximately $10,457,304. The trade was a 0.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Robert P. Ragusa sold 7,625 shares of the business's stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $31.21, for a total transaction of $237,976.25. Following the sale, the chief executive officer now directly owns 828,662 shares of the company's stock, valued at approximately $25,862,541.02. The trade was a 0.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 194,948 shares of company stock valued at $6,583,130. Corporate insiders own 1.85% of the company's stock.

Grail 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.