Sessa Capital IM L.P. Purchases New Stake in Grail, Inc. (NASDAQ:GRAL)

Sessa Capital IM L.P. bought a new position in Grail, Inc. (NASDAQ:GRAL - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 3,000,000 shares of the company's stock, valued at approximately $53,550,000. Grail accounts for 1.9% of Sessa Capital IM L.P.'s investment portfolio, making the stock its 13th largest holding. Sessa Capital IM L.P. owned approximately 8.93% of Grail as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. B & T Capital Management DBA Alpha Capital Management bought a new position in Grail in the fourth quarter valued at $387,000. Wesbanco Bank Inc. bought a new position in shares of Grail in the 4th quarter valued at about $523,000. Exchange Traded Concepts LLC bought a new position in shares of Grail in the 4th quarter valued at about $507,000. Slow Capital Inc. bought a new stake in Grail during the fourth quarter worth about $2,379,000. Finally, Perigon Wealth Management LLC bought a new stake in Grail during the fourth quarter worth about $260,000.

Grail Trading Up 2.9%

Shares of Grail stock traded up $1.09 during trading on Tuesday, hitting $39.32. 958,250 shares of the stock were exchanged, compared to its average volume of 1,257,802. Grail, Inc. has a 1-year low of $12.33 and a 1-year high of $63.99. The stock has a market capitalization of $1.41 billion and a price-to-earnings ratio of -0.64. The company has a fifty day moving average price of $30.16 and a 200-day moving average price of $26.92.

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

Insider Buying and Selling at Grail

In related news, President Joshua J. Ofman sold 2,109 shares of Grail stock in a transaction dated 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 sale, the president now owns 559,673 shares of the company's stock, valued at approximately $17,461,797.60. The trade was a 0.38% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Aaron Freidin sold 1,816 shares of the business's stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $31.20, for a total value of $56,659.20. Following the sale, the chief financial officer now owns 335,170 shares of the company's stock, valued at approximately $10,457,304. This represents a 0.54% decrease in their position. The disclosure for this sale can be found here. Insiders sold 194,948 shares of company stock valued at $6,583,130 in the last quarter. 1.85% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts recently issued reports on GRAL shares. Morgan Stanley upped their target price on Grail from $16.00 to $20.00 and gave the stock an "equal weight" rating in a report on Tuesday, March 18th. Canaccord Genuity Group upped their target price on Grail from $32.00 to $43.00 and gave the stock a "buy" rating in a report on Wednesday, May 14th.

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.