Wellington Shields & Co. LLC Makes New $190,000 Investment in Grail, Inc. (NASDAQ:GRAL)

Wellington Shields & Co. LLC acquired a new position in Grail, Inc. (NASDAQ:GRAL) in the 4th quarter, HoldingsChannel reports. The fund acquired 10,662 shares of the company’s stock, valued at approximately $190,000.

Several other institutional investors have also added to or reduced their stakes in the company. Crcm LP purchased a new position in shares of Grail during the fourth quarter worth approximately $65,061,000. Bank of New York Mellon Corp purchased a new position in shares of Grail during the fourth quarter worth approximately $6,262,000. TCW Group Inc. purchased a new position in shares of Grail during the fourth quarter worth approximately $5,095,000. abrdn plc purchased a new position in shares of Grail during the fourth quarter worth approximately $3,768,000. Finally, Commonwealth Equity Services LLC purchased a new position in shares of Grail during the fourth quarter worth approximately $3,278,000.

Grail Price Performance

Shares of GRAL stock opened at $29.74 on Friday. The company’s 50 day moving average is $31.81 and its 200 day moving average is $21.29. Grail, Inc. has a 52-week low of $12.33 and a 52-week high of $63.99.

Grail (NASDAQ:GRAL) last issued its quarterly earnings data on Thursday, February 20th. The company reported ($1.86) earnings per share (EPS) for the quarter, beating the consensus estimate of ($4.41) by $2.55. The business had revenue of $38.25 million for the quarter, compared to analysts’ expectations of $35.33 million. Sell-side analysts expect that Grail, Inc. will post -15.15 EPS for the current year.

Insider Activity at Grail

In other Grail news, CEO Robert P. Ragusa sold 7,625 shares of Grail stock in a transaction 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 transaction, the chief executive officer now directly owns 828,662 shares of the company’s stock, valued at approximately $25,862,541.02. The trade was a 0.91 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Aaron Freidin sold 1,816 shares of Grail stock in a transaction on Friday, March 7th. The stock was sold at an average price of $31.20, for a total transaction of $56,659.20. Following the completion of the transaction, the chief financial officer now directly owns 335,170 shares in the company, valued at $10,457,304. This represents a 0.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 11,550 shares of company stock valued at $360,436 over the last ninety days.

Analysts Set New Price Targets

A number of equities analysts have recently commented on GRAL shares. Morgan Stanley started coverage on shares of Grail in a research report on Wednesday, November 27th. They set an “equal weight” rating and a $16.00 target price on the stock. Wolfe Research started coverage on shares of Grail in a research report on Friday, November 15th. They set a “peer perform” rating on the stock.

About Grail

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.