JPMorgan Chase & Co. Sells 48,591 Shares of Grail, Inc. (NASDAQ:GRAL)

JPMorgan Chase & Co. reduced its stake in shares of Grail, Inc. (NASDAQ:GRAL) by 73.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 17,404 shares of the company’s stock after selling 48,591 shares during the quarter. JPMorgan Chase & Co. owned 0.05% of Grail worth $311,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Crcm LP acquired a new stake in Grail during the 4th quarter worth approximately $65,061,000. Primecap Management Co. CA acquired a new position in shares of Grail during the 4th quarter valued at $37,118,000. Vanguard Group Inc. bought a new position in Grail during the fourth quarter worth $25,902,000. Bank of New York Mellon Corp bought a new stake in Grail in the fourth quarter valued at $6,262,000. Finally, TCW Group Inc. bought a new position in shares of Grail during the 4th quarter worth about $5,095,000.

Insider Transactions at Grail

In other news, CEO Robert P. Ragusa sold 7,625 shares of Grail stock in a transaction on 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 in the company, valued at $25,862,541.02. The trade was a 0.91 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, President Joshua J. Ofman sold 2,109 shares of the 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 transaction, 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 disclosure for this sale can be found here. Insiders have sold 11,550 shares of company stock worth $360,436 in the last 90 days.

Analyst Upgrades and Downgrades

A number of analysts have commented on GRAL shares. Morgan Stanley boosted their price target on shares of Grail from $16.00 to $20.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 18th. Canaccord Genuity Group assumed coverage on shares of Grail in a research report on Monday, April 21st. They set a “buy” rating and a $32.00 target price for the company.

Grail Trading Up 10.1 %

Shares of Grail stock opened at $35.78 on Friday. The stock has a fifty day simple moving average of $30.08 and a 200 day simple moving average of $25.01. Grail, Inc. has a 12-month low of $12.33 and a 12-month high of $63.99.

Grail (NASDAQ:GRAL) last posted its 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 firm had revenue of $38.25 million during the quarter, compared to the consensus estimate of $35.33 million. On average, research analysts anticipate that Grail, Inc. will post -15.15 earnings per share for the current year.

Grail Profile

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.