Grail (NASDAQ:GRAL) Trading Up 5.4% – What’s Next?

Grail, Inc. (NASDAQ:GRAL) shares traded up 5.4% during mid-day trading on Wednesday . The company traded as high as $35.10 and last traded at $34.94. 238,647 shares traded hands during mid-day trading, a decline of 77% from the average session volume of 1,049,903 shares. The stock had previously closed at $33.15.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on GRAL. Morgan Stanley began coverage on shares of Grail in a research report on Wednesday, November 27th. They set an “equal weight” rating and a $16.00 price target for the company. Guggenheim initiated coverage on shares of Grail in a research note on Thursday, October 17th. They issued a “neutral” rating on the stock. Finally, Wolfe Research began coverage on Grail in a research note on Friday, November 15th. They issued a “peer perform” rating for the company.

Grail Trading Up 17.6 %

The stock’s fifty day simple moving average is $22.29 and its two-hundred day simple moving average is $17.43.

Grail (NASDAQ:GRAL) last issued its earnings results on Tuesday, November 12th. The company reported ($3.94) earnings per share for the quarter. The business had revenue of $28.65 million during the quarter. Sell-side analysts anticipate that Grail, Inc. will post -65.16 EPS for the current fiscal year.

Insider Activity

In other news, CFO Aaron Freidin sold 30,452 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $14.02, for a total value of $426,937.04. Following the completion of the sale, the chief financial officer now directly owns 268,277 shares of the company’s stock, valued at approximately $3,761,243.54. This represents a 10.19 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Institutional Investors Weigh In On Grail

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GRAL. Douglas Lane & Associates LLC acquired a new position in shares of Grail during the 4th quarter valued at $3,034,000. A. D. Beadell Investment Counsel Inc. bought a new position in Grail during the fourth quarter valued at about $430,000. FNY Investment Advisers LLC acquired a new position in Grail during the fourth quarter worth about $26,000. 180 Wealth Advisors LLC bought a new stake in Grail in the fourth quarter worth about $1,681,000. Finally, B & T Capital Management DBA Alpha Capital Management acquired a new stake in Grail in the 4th quarter valued at about $387,000.

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.