Panoramic Capital LLC Takes $495,000 Position in Grail, Inc. (NASDAQ:GRAL)

Panoramic Capital LLC bought a new stake in shares of Grail, Inc. (NASDAQ:GRAL - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 27,738 shares of the company's stock, valued at approximately $495,000. Panoramic Capital LLC owned approximately 0.08% of Grail at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. FNY Investment Advisers LLC purchased a new stake in shares of Grail in the fourth quarter worth about $26,000. State of Tennessee Department of Treasury purchased a new position in Grail during the fourth quarter worth approximately $28,000. Lindbrook Capital LLC purchased a new position in Grail during the fourth quarter worth approximately $28,000. Sterling Capital Management LLC purchased a new position in Grail during the fourth quarter worth approximately $29,000. Finally, Wellington Shields Capital Management LLC purchased a new position in Grail during the fourth quarter worth approximately $33,000.

Insider Activity at Grail

In related news, CEO Robert P. Ragusa sold 7,625 shares of the stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $31.21, for a total value of $237,976.25. Following the completion of the sale, the chief executive officer now owns 828,662 shares of the company's stock, valued at approximately $25,862,541.02. This trade represents a 0.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, President Joshua J. Ofman sold 2,109 shares of the stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $31.20, for a total value of $65,800.80. Following the completion of the sale, the president now directly owns 559,673 shares of the company's stock, 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. Over the last 90 days, insiders sold 194,948 shares of company stock valued at $6,583,130. 1.85% of the stock is currently owned by insiders.

Grail Stock Down 7.3%

Shares of NASDAQ GRAL traded down $2.91 during midday trading on Monday, hitting $37.00. The stock had a trading volume of 721,105 shares, compared to its average volume of 1,460,268. The company has a market capitalization of $1.31 billion and a PE ratio of -0.61. The stock has a 50 day simple moving average of $30.01 and a 200-day simple moving average of $26.75. Grail, Inc. has a 1 year low of $12.33 and a 1 year high of $63.99.

Grail (NASDAQ:GRAL - Get Free Report) last released its 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 firm had revenue of $31.84 million during the quarter, compared to analysts' expectations of $35.80 million. As a group, analysts expect that Grail, Inc. will post -15.15 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

GRAL has been the topic of a number of recent analyst reports. Morgan Stanley increased their price target on Grail from $16.00 to $20.00 and gave the stock an "equal weight" rating in a research report on Tuesday, March 18th. Canaccord Genuity Group increased their price target on Grail from $32.00 to $43.00 and gave the stock a "buy" rating in a research report on Wednesday, May 14th.

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.