California State Teachers Retirement System Takes Position in Grail, Inc. (NASDAQ:GRAL)

California State Teachers Retirement System bought a new stake in shares of Grail, Inc. (NASDAQ:GRAL) in the fourth quarter, Holdings Channel reports. The institutional investor bought 26,022 shares of the company’s stock, valued at approximately $464,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. State of Tennessee Department of Treasury bought a new position in shares of Grail during the 4th quarter valued at approximately $28,000. Lindbrook Capital LLC bought a new stake in Grail in the fourth quarter worth $28,000. Sterling Capital Management LLC bought a new stake in Grail in the fourth quarter worth $29,000. Wellington Shields Capital Management LLC bought a new stake in Grail in the fourth quarter worth $33,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Grail in the fourth quarter worth $41,000.

Analysts Set New Price Targets

GRAL has been the subject of a number of analyst reports. Canaccord Genuity Group raised their price target on Grail from $32.00 to $43.00 and gave the stock a “buy” rating in a research report on Wednesday, May 14th. Morgan Stanley raised 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.

Grail Trading Up 4.1%

NASDAQ:GRAL opened at $43.87 on Thursday. 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 $1.58 billion and a price-to-earnings ratio of -0.72. The stock has a fifty day simple moving average of $34.30 and a 200-day simple moving average of $29.67.

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

Insider Transactions at Grail

In related news, President Joshua J. Ofman sold 48,213 shares of Grail stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $33.93, for a total value of $1,635,867.09. Following the completion of the sale, the president now directly owns 511,460 shares in the company, valued at $17,353,837.80. The trade was a 8.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Aaron Freidin sold 41,150 shares of the business’s stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $33.93, for a total transaction of $1,396,219.50. Following the completion of the transaction, the chief financial officer now owns 294,020 shares of the company’s stock, valued at $9,976,098.60. This represents a 12.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 183,398 shares of company stock worth $6,222,694. 1.85% of the stock is currently owned by insiders.

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.