Man Group plc Buys New Position in Grail, Inc. (NASDAQ:GRAL)

Man Group plc bought a new stake in shares of Grail, Inc. (NASDAQ:GRAL) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 27,152 shares of the company’s stock, valued at approximately $485,000. Man Group plc owned 0.08% of Grail at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. State of Tennessee Department of Treasury bought a new position in shares of Grail in the fourth quarter worth approximately $28,000. Lindbrook Capital LLC bought a new position in shares of Grail in the fourth quarter worth approximately $28,000. Sterling Capital Management LLC bought a new position in shares of Grail in the fourth quarter worth approximately $29,000. Wellington Shields Capital Management LLC bought a new position in shares of Grail in the fourth quarter worth approximately $33,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Grail in the fourth quarter worth approximately $41,000.

Analyst Ratings Changes

A number of equities analysts have weighed in on GRAL shares. Canaccord Genuity Group upped their price target on shares of Grail from $32.00 to $43.00 and gave the stock a “buy” rating in a research report on Wednesday, May 14th. Morgan Stanley upped their price target on shares of Grail from $16.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 18th.

Grail Trading Up 3.6%

Shares of GRAL opened at $40.18 on Tuesday. Grail, Inc. has a twelve month low of $12.33 and a twelve month high of $63.99. The company has a market cap of $1.45 billion and a P/E ratio of -0.66. The company’s fifty day simple moving average is $31.24 and its 200-day simple moving average is $27.79.

Grail (NASDAQ:GRAL) last posted its quarterly earnings results on Tuesday, May 13th. The company reported ($3.10) EPS for the quarter, topping analysts’ consensus estimates of ($4.03) by $0.93. The company had revenue of $31.84 million during the quarter, compared to the consensus estimate of $35.80 million. Analysts predict that Grail, Inc. will post -15.15 earnings per share for the current fiscal year.

Insider Activity

In related news, President Joshua J. Ofman sold 48,213 shares of the stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $33.93, for a total value of $1,635,867.09. Following the completion of the transaction, the president now directly owns 511,460 shares of the company’s stock, valued at $17,353,837.80. This trade represents a 8.61% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Robert P. Ragusa sold 7,625 shares of the stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $31.21, for a total transaction of $237,976.25. Following the completion of the transaction, the chief executive officer now directly owns 828,662 shares of the company’s stock, valued at $25,862,541.02. The trade was a 0.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 194,948 shares of company stock worth $6,583,130. Corporate insiders own 1.85% of the company’s stock.

Grail Company 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.