Norges Bank Takes Position in Grail, Inc. (NASDAQ:GRAL)

Norges Bank acquired a new position in shares of Grail, Inc. (NASDAQ:GRAL) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 66,342 shares of the company’s stock, valued at approximately $1,184,000. Norges Bank owned about 0.20% of Grail at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new position in Grail in the fourth quarter worth about $244,000. Moloney Securities Asset Management LLC purchased a new position in shares of Grail in the 4th quarter worth approximately $559,000. Rhumbline Advisers bought a new position in shares of Grail during the 4th quarter worth approximately $456,000. Wesbanco Bank Inc. purchased a new stake in Grail during the fourth quarter valued at approximately $523,000. Finally, Slow Capital Inc. acquired a new stake in Grail in the fourth quarter valued at approximately $2,379,000.

Analyst Upgrades and Downgrades

Separately, Morgan Stanley upped their price target on Grail from $16.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 18th.

Insider Activity at Grail

In related news, 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 value of $237,976.25. Following the transaction, the chief executive officer now owns 828,662 shares in the company, valued at approximately $25,862,541.02. This represents a 0.91 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Aaron Freidin sold 1,816 shares of Grail stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $31.20, for a total transaction of $56,659.20. Following the sale, the chief financial officer now owns 335,170 shares of the company’s stock, valued at approximately $10,457,304. The trade was 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 in the last ninety days.

Grail Stock Performance

Shares of GRAL stock opened at $23.26 on Friday. Grail, Inc. has a fifty-two week low of $12.33 and a fifty-two week high of $63.99. The stock’s 50-day simple moving average is $33.52 and its 200-day simple moving average is $23.20.

Grail (NASDAQ:GRAL) last released its earnings results on Thursday, February 20th. The company reported ($1.86) earnings per share for the quarter, topping the consensus estimate of ($4.41) by $2.55. The company had revenue of $38.25 million for the quarter, compared to analysts’ expectations of $35.33 million. Equities analysts anticipate that Grail, Inc. will post -15.15 earnings per share for the current fiscal year.

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.