Legato Capital Management LLC Makes New $1.15 Million Investment in GRAIL, Inc. $GRAL

by · The Cerbat Gem

Legato Capital Management LLC bought a new position in shares of GRAIL, Inc. (NASDAQ:GRAL – Free Report) in the fourth quarter, Holdings Channel reports. The firm bought 13,435 shares of the company’s stock, valued at approximately $1,150,000.

A number of other institutional investors have also recently bought and sold shares of the business. WIM INVESTMENT MANAGEMENT Ltd raised its stake in GRAIL by 200.0% during the 3rd quarter. WIM INVESTMENT MANAGEMENT Ltd now owns 63,000 shares of the company’s stock worth $3,725,000 after buying an additional 42,000 shares during the period. JPMorgan Chase & Co. raised its stake in GRAIL by 159.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 206,120 shares of the company’s stock worth $12,188,000 after buying an additional 126,576 shares during the period. Farallon Capital Management LLC raised its stake in GRAIL by 168.7% during the 3rd quarter. Farallon Capital Management LLC now owns 1,349,000 shares of the company’s stock worth $79,766,000 after buying an additional 847,000 shares during the period. Y Intercept Hong Kong Ltd acquired a new stake in GRAIL during the 3rd quarter worth $885,000. Finally, Trifecta Capital Advisors LLC raised its stake in GRAIL by 89.9% during the 3rd quarter. Trifecta Capital Advisors LLC now owns 21,650 shares of the company’s stock worth $1,280,000 after buying an additional 10,250 shares during the period.

GRAIL Stock Performance

GRAL opened at $67.19 on Monday. The stock has a market capitalization of $2.88 billion, a P/E ratio of -6.48 and a beta of 3.03. GRAIL, Inc. has a 12 month low of $29.95 and a 12 month high of $118.84. The firm’s fifty day simple moving average is $53.45 and its 200 day simple moving average is $76.55.

GRAIL (NASDAQ:GRAL – Get Free Report) last posted its quarterly earnings data on Tuesday, May 5th. The company reported ($2.29) EPS for the quarter, beating the consensus estimate of ($2.76) by $0.47. The business had revenue of $40.79 million for the quarter, compared to analysts’ expectations of $39.16 million. GRAIL had a negative net margin of 253.22% and a negative return on equity of 16.42%. On average, equities research analysts predict that GRAIL, Inc. will post -10.91 EPS for the current fiscal year.

Insider Activity at GRAIL

In other GRAIL news, CFO Aaron Freidin sold 45,806 shares of the business’s stock in a transaction dated Wednesday, April 8th. The shares were sold at an average price of $49.92, for a total transaction of $2,286,635.52. Following the sale, the chief financial officer directly owned 260,669 shares of the company’s stock, valued at $13,012,596.48. The trade was a 14.95% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, President Joshua J. Ofman sold 61,665 shares of the business’s stock in a transaction dated Wednesday, April 8th. The stock was sold at an average price of $49.92, for a total transaction of $3,078,316.80. Following the sale, the president directly owned 371,216 shares in the company, valued at $18,531,102.72. This trade represents a 14.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 310,267 shares of company stock valued at $15,485,396. 1.83% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts recently commented on GRAL shares. Guggenheim dropped their price objective on GRAIL from $130.00 to $75.00 and set a “buy” rating on the stock in a research note on Monday, March 30th. Wall Street Zen raised GRAIL from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Mizuho started coverage on GRAIL in a research note on Friday, April 10th. They set a “neutral” rating and a $58.00 price objective on the stock. Robert W. Baird set a $70.00 price objective on GRAIL in a research note on Wednesday, May 6th. Finally, TD Cowen raised their price objective on GRAIL from $65.00 to $69.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Four research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $67.88.

View Our Latest Stock Report on GRAIL

GRAIL Company Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding GRAL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for GRAIL, Inc. (NASDAQ:GRAL – Free Report).