Legal & General Group Plc acquired a new position in GRAIL, Inc. (NASDAQ:GRAL – Free Report) in the 2nd quarter, Holdings Channel.com reports. The firm acquired 100,638 shares of the company’s stock, valued at approximately $6,871,000.
A number of other institutional investors also recently bought and sold shares of the stock. BlackRock Inc. lifted its position in GRAIL by 20.5% during the second quarter. BlackRock Inc. now owns 3,577,075 shares of the company’s stock valued at $244,207,000 after purchasing an additional 608,539 shares in the last quarter. Farallon Capital Management LLC increased its position in GRAIL by 73.7% in the fourth quarter. Farallon Capital Management LLC now owns 2,342,684 shares of the company’s stock worth $200,510,000 after buying an additional 993,684 shares in the last quarter. Baker BROS. Advisors LP raised its stake in shares of GRAIL by 27.9% in the fourth quarter. Baker BROS. Advisors LP now owns 2,085,333 shares of the company’s stock worth $178,484,000 after buying an additional 455,208 shares during the period. Vanguard Group Inc. raised its stake in shares of GRAIL by 9.0% in the fourth quarter. Vanguard Group Inc. now owns 1,980,783 shares of the company’s stock worth $169,535,000 after buying an additional 163,790 shares during the period. Finally, State Street Corp lifted its position in shares of GRAIL by 38.8% during the 4th quarter. State Street Corp now owns 1,827,523 shares of the company’s stock valued at $156,418,000 after buying an additional 510,546 shares in the last quarter.
GRAIL Trading Up 1.0%
Shares of GRAL stock opened at $80.56 on Thursday. The stock has a market capitalization of $3.60 billion, a price-to-earnings ratio of -8.26 and a beta of 3.25. GRAIL, Inc. has a 12-month low of $31.75 and a 12-month high of $118.84. The stock’s 50-day moving average price is $71.97 and its 200-day moving average price is $62.96.
Insider Activity at GRAIL
In other news, CFO Aaron Freidin sold 7,900 shares of the stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $85.01, for a total transaction of $671,579.00. Following the completion of the transaction, the chief financial officer directly owned 253,083 shares in the company, valued at approximately $21,514,585.83. This represents a 3.03% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Joshua J. Ofman sold 5,000 shares of the company’s stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $85.02, for a total transaction of $425,100.00. Following the sale, the chief executive officer directly owned 397,271 shares in the company, valued at approximately $33,775,980.42. The trade was a 1.24% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.83% of the stock is owned by corporate insiders.
Analysts Set New Price Targets
GRAL has been the subject of a number of recent research reports. The Goldman Sachs Group began coverage on GRAIL in a research note on Friday, June 5th. They set a “neutral” rating and a $60.00 price objective for the company. TD Cowen restated a “buy” rating on shares of GRAIL in a research note on Wednesday, July 15th. Wall Street Zen upgraded shares of GRAIL from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Piper Sandler increased their price objective on shares of GRAIL from $54.00 to $56.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 6th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of GRAIL in a research report on Friday, July 17th. Four research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $67.78.
View Our Latest Analysis on GRAL
GRAIL Profile
GRAIL, Inc (NASDAQ: GRAL) is a biotechnology company dedicated to the early detection of cancer through a multi-cancer blood test. Leveraging advances in next-generation sequencing, cell-free DNA (cfDNA) analysis and machine learning, GRAIL has developed the Galleri™ test, which aims to identify more than 50 types of cancer at their earliest stages. The company’s platform analyzes methylation patterns in circulating tumor DNA to pinpoint tumor presence and tissue of origin, enabling physicians to pursue timely diagnostic follow-up.
Founded in 2016 as a spin-out from Illumina, GRAIL established its headquarters in Menlo Park, California, with additional research and operations centers in the United Kingdom.
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