Ameriprise Financial Inc. Takes $681,000 Position in Grail, Inc. (NASDAQ:GRAL)

Ameriprise Financial Inc. bought a new stake in Grail, Inc. (NASDAQ:GRAL) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 38,142 shares of the company’s stock, valued at approximately $681,000. Ameriprise Financial Inc. owned 0.11% of Grail as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. State of Tennessee Department of Treasury purchased a new position in Grail during the fourth quarter valued at $28,000. Lindbrook Capital LLC purchased a new position in Grail during the fourth quarter valued at $28,000. Sterling Capital Management LLC purchased a new position in Grail during the fourth quarter valued at $29,000. Wellington Shields Capital Management LLC purchased a new position in Grail during the fourth quarter valued at $33,000. Finally, Public Employees Retirement Association of Colorado purchased a new position in Grail during the fourth quarter valued at $50,000.

Grail Trading Up 2.8%

Grail stock opened at $38.55 on Wednesday. Grail, Inc. has a 12 month low of $12.33 and a 12 month high of $63.99. The firm has a market cap of $1.39 billion and a price-to-earnings ratio of -0.63. The stock has a fifty day simple moving average of $32.44 and a two-hundred day simple moving average of $28.72.

Grail (NASDAQ:GRAL) last issued its quarterly earnings data on Tuesday, May 13th. The company reported ($3.10) EPS for the quarter, topping the consensus estimate of ($4.03) by $0.93. The firm had revenue of $31.84 million during the quarter, compared to the consensus estimate of $35.80 million. On average, equities research analysts forecast that Grail, Inc. will post -15.15 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have commented on GRAL. Morgan Stanley lifted 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 lifted 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.

Insider Buying and Selling

In other news, CFO Aaron Freidin sold 1,816 shares of the company’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $31.20, for a total value of $56,659.20. Following the completion of the transaction, the chief financial officer now owns 335,170 shares of the company’s stock, valued at $10,457,304. This represents a 0.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Robert P. Ragusa sold 7,625 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $31.21, for a total value of $237,976.25. Following the sale, the chief executive officer now owns 828,662 shares in the company, valued at approximately $25,862,541.02. This trade represents a 0.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 194,948 shares of company stock valued at $6,583,130 over the last 90 days. Company insiders own 1.85% of the company’s stock.

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.