5 Recent Spin-off Companies That Hedge Funds Are Piling Into

4. Grail Inc. (NASDAQ:GRAL)

Grail Inc. (NASDAQ:GRAL) ranks among the recent spin-off companies that hedge funds are piling into. Following investor meetings with company management, Guggenheim reiterated its Buy rating and $130 price target for Grail Inc. (NASDAQ:GRAL) on March 23. The firm believes Galleri has long-term value as a broad-based multi-cancer early detection test, especially now that a legislative avenue for Medicare funding of an FDA-approved test has been established.

Guggenheim said it is optimistic that the FDA will approve Galleri, making it the first FDA-approved multi-cancer early detection test. The firm anticipates that future releases of more detailed data from the NHS trial will resolve the concerns raised by the trial’s primary endpoint miss and show that Galleri’s performance, safety, and efficacy remain comparable with the PATHFINDER 2 ESMO data reading.

This came after the company suffered a setback when its NHS-Galleri study failed to fulfill its primary target of lowering Stage III-IV cancer diagnoses.

Grail Inc. (NASDAQ:GRAL) is a commercial-stage healthcare company that develops a technology for the early detection of cancer. The company employs software, machine learning, and automation to identify and detect multiple deadly cancer types at earlier stages.