Schonfeld Strategic Advisors LLC Purchases New Stake in Grail, Inc. (NASDAQ:GRAL)

Schonfeld Strategic Advisors LLC purchased a new position in Grail, Inc. (NASDAQ:GRAL - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 57,504 shares of the company's stock, valued at approximately $1,026,000. Schonfeld Strategic Advisors LLC owned about 0.17% of Grail as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the company. Crcm LP bought a new stake in shares of Grail in the fourth quarter worth about $65,061,000. Primecap Management Co. CA purchased a new stake in Grail in the 4th quarter worth approximately $37,118,000. Vanguard Group Inc. purchased a new stake in Grail in the 4th quarter worth approximately $25,902,000. AQR Capital Management LLC bought a new stake in shares of Grail in the 4th quarter worth approximately $14,828,000. Finally, Arbiter Partners Capital Management LLC purchased a new position in shares of Grail during the fourth quarter valued at approximately $14,827,000.

Grail Trading Up 8.0 %

GRAL opened at $34.74 on Thursday. The stock has a fifty day simple moving average of $29.67 and a two-hundred day simple moving average of $25.41. Grail, Inc. has a 12-month low of $12.33 and a 12-month high of $63.99.

Grail (NASDAQ:GRAL - Get Free Report) last issued its quarterly earnings results on Thursday, February 20th. The company reported ($1.86) earnings per share (EPS) for the quarter, topping the consensus estimate of ($4.41) by $2.55. The business had revenue of $38.25 million during the quarter, compared to the consensus estimate of $35.33 million. Research analysts forecast that Grail, Inc. will post -15.15 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Morgan Stanley lifted their price target on shares of Grail from $16.00 to $20.00 and gave the company an "equal weight" rating in a report on Tuesday, March 18th. Canaccord Genuity Group began coverage on shares of Grail in a research note on Monday, April 21st. They set a "buy" rating and a $32.00 target price on the stock.

Insider Activity

In other news, President Joshua J. Ofman sold 2,109 shares of the firm's stock in a transaction on Friday, March 7th. The stock was 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 $17,461,797.60. This trade represents a 0.38 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Aaron Freidin sold 41,150 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 $1,396,219.50. Following the completion of the transaction, the chief financial officer now owns 294,020 shares in the company, valued at approximately $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 ninety days, insiders sold 194,948 shares of company stock worth $6,583,130.

About Grail

GRAIL, Inc is a healthcare company. It engages in the development of a technology for early detection of cancer. The company was founded by Jeffrey T. Huber, William H. Rastetter, and Mostafa Ronaghi on September 11, 2015 and is headquartered in Menlo Park, CA.

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