Grail (NASDAQ:GRAL) Trading 5.9% Higher – What’s Next?

Grail, Inc. (NASDAQ:GRAL) shares shot up 5.9% during mid-day trading on Monday . The stock traded as high as $40.92 and last traded at $39.40. 301,135 shares were traded during mid-day trading, a decline of 75% from the average session volume of 1,219,245 shares. The stock had previously closed at $37.20.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on GRAL. Canaccord Genuity Group assumed coverage on shares of Grail in a report on Monday, April 21st. They set a “buy” rating and a $32.00 target price on the stock. Morgan Stanley increased their target price on shares of Grail from $16.00 to $20.00 and gave the company an “equal weight” rating in a research report on Tuesday, March 18th.

Grail Trading Down 0.1 %

The stock’s 50-day moving average price is $31.14 and its 200 day moving average price is $24.42.

Grail (NASDAQ:GRAL) last posted its quarterly earnings data on Thursday, February 20th. The company reported ($1.86) EPS for the quarter, topping analysts’ consensus estimates of ($4.41) by $2.55. The business had revenue of $38.25 million during the quarter, compared to analyst estimates of $35.33 million. Sell-side analysts forecast that Grail, Inc. will post -15.15 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, President Joshua J. Ofman sold 2,109 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $31.20, for a total transaction of $65,800.80. Following the transaction, the president now directly owns 559,673 shares of the company’s stock, valued at approximately $17,461,797.60. The trade was a 0.38 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Aaron Freidin sold 1,816 shares of Grail stock in a transaction on Friday, March 7th. The stock was sold at an average price of $31.20, for a total transaction of $56,659.20. Following the transaction, the chief financial officer now directly owns 335,170 shares of the company’s stock, valued at approximately $10,457,304. This trade represents a 0.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 11,550 shares of company stock worth $360,436 over the last ninety days.

Institutional Investors Weigh In On Grail

A number of institutional investors have recently modified their holdings of the business. Douglas Lane & Associates LLC acquired a new stake in Grail during the 4th quarter worth approximately $3,034,000. A. D. Beadell Investment Counsel Inc. acquired a new position in shares of Grail during the fourth quarter valued at about $430,000. FNY Investment Advisers LLC acquired a new position in shares of Grail during the fourth quarter valued at about $26,000. 180 Wealth Advisors LLC acquired a new stake in shares of Grail in the 4th quarter worth about $1,681,000. Finally, B & T Capital Management DBA Alpha Capital Management acquired a new stake in shares of Grail in the 4th quarter worth 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.